VANCOUVER, Sept. 17, 2013 /PRNewswire/ - Polaris Minerals Corporation (TSX:PLS) (the "Company") advises that the Board of Directors has now adopted a Majority Voting Policy (the "Policy") in respect of the election of directors at the Annual Meeting of Shareholders.
This Policy has been implemented, in accordance with best corporate governance practices, because the Board of Directors believes that each serving director should have the confidence and support of the shareholders of the Corporation. In connection with the election of directors of the Corporation at an annual meeting, if a director nominee has more votes withheld than are voted in their favour, then the nominee will be considered by the Board not to have received the support of shareholders and will be expected to submit their resignation as a director forthwith. Certain exceptions to the Policy may apply such as a proxy battle involving nominees not supported by the Board.
The full text of the policy is available on the Company's website at www.polarmin.com under "Governance".
Polaris Minerals Corporation is exclusively focused on the development of quarries and the production of construction aggregates in British Columbia for marine transport to urban markets on the Pacific coasts of North America to meet growing local supply deficits. In 2007, Polaris began shipping sand and gravel from the Orca Quarry to San Francisco Bay, Vancouver and Hawaii.SOURCE Polaris Minerals Corporation