VANCOUVER, British Columbia
Dec. 3, 2012
/PRNewswire/ -- St. Elias Mines Ltd. (SLI – TSX:V) (Frankfurt Exchange: EKL) (U.S. Clearing Symbol: SELSF) today announced that it has filed and is mailing its Management Information Circular for the Annual and Special Meeting of Shareholders (the "Meeting") scheduled for
December 27, 2012
At the Meeting, shareholders will be asked to approve resolutions to elect five directors, to approve St. Elias' incentive stock option policy and to appoint an auditor for the Company.
"This year's Annual and Special Meeting of Shareholders is particular important for the future of our Company," said
, President and CEO. "More than ever, it is crucial that the St. Elias Board has the right mix of experience and expertise to oversee the company for the benefit of all shareholders."
St. Elias has received notice that Mr.
Gilby Len Hastman
, an electrician from
Spruce Grove, Alberta
, intends to put forward five potential nominees in opposition to the Company's nominees for election to the St. Elias Board. As described in more detail in a letter to shareholders included in this news release, two of the potential nominees are prohibited by the Company's articles from being elected at this meeting because they did not provide their consent to serve within the time frame established under the Company's articles. Based on biographies provided to St. Elias, the remaining three have insufficient experience to lead St. Elias.
St. Elias urges shareholders to carefully review the Letter to Shareholders and the Management Information Circular and vote only the WHITE proxy well in advance of the proxy voting deadline of
Friday, December 21, 2012
St. Elias' Letter to Shareholders and Circular have been filed on SEDAR and posted to St. Elias' website at
St. Elias recommends that shareholders vote only the WHITE proxy:
Letter to Shareholders
- FOR the five St. Elias director nominees
- FOR the incentive stock option plan
- FOR the appointment of auditors
- FOR an Amendment to the articles of the Company to remove staggered terms for the Board
The complete Letter to Shareholders from St. Elias follows: