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Brookwater Adopts Advance Notice Policy


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© Marketwire 2013
2013-02-27 23:02:24 -

CALGARY, ALBERTA -- (Marketwire) -- 02/27/13 -- Brookwater Ventures Inc. (TSX VENTURE:BW) has adopted a new policy that requires advance notice to the company for nominations of directors other than by management, through a requisition for a meeting or by way of a shareholder proposal.


Among other things, the policy fixes a deadline by which holders of record of common shares of Brookwater must submit director nominations to the company prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to Brookwater for the notice to be in proper written form.


In the case of an annual meeting of shareholders, notice to Brookwater must be made not less than 30 nor more than 65 days prior to the date of the annual meeting, provided that in the event that the annual meeting is to be held on a date that is less than 50 days after the date on which the first public announcement of the date of the annual meeting was made, notice may be made not later than the close of business on the tenth day following such public announcement.



In the case of a special meeting of shareholders (which is not also an annual meeting), notice to Brookwater must be made not later than the close of business on the 15th day following the day on which the first public announcement of the date of the special meeting was made.


The new policy is intended to: (i) facilitate an orderly and efficient annual general or special meeting process; (ii) ensure that all shareholders receive adequate notice of the director nominations and sufficient information regarding all director nominees; and (iii) allow shareholders to register an informed vote after having been afforded reasonable time for appropriate deliberation.


The policy is effective immediately and will be placed before Brookwater's shareholders for approval at the company's annual general and special meeting of shareholders scheduled to be held on March 26, 2013.


The full text of the policy is available under Brookwater's profile at www.sedar.com.


About Brookwater:


Brookwater Ventures Inc. is a Canadian independent oil exploration company focused on growing its asset base primarily in Brazil.


Forward-looking information


This news release contains forward-looking information relating to the Company's growth and corporate strategy, and other statements that are not historical facts. Forward-looking information relates to management's future outlook and anticipated events or results, and may include statements or information regarding the advance notice policy; and the future plans or prospects of the Company. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended.


Forward looking-information is subject to certain factors, including risks and uncertainties that could cause actual results to differ materially from what is currently expected. These factors include risks and uncertainties associated with oil and gas exploration, development, exploitation, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, reliance on key personnel, regulatory risks and delays and other risks and uncertainties discussed in the management discussion and analysis section of the Company's interim and most recent annual financial statement or other reports and filings with the TSX Venture Exchange and applicable Canadian securities regulations. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information.


The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, the Company undertakes no obligation to comment on the expectations of, or statements made by, third parties in respect of the matters discussed above.


NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.


Contacts:

Brookwater Ventures Inc.

Ahmed Said

President & CEO

403-263 3000
asaid@forbesenergygroup.com :

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