ICIZF

Innovative Composites International, Inc.

 
Ordinary Shares
OTCQX Advisor: Hodgson Russ LLP OTCQX International
 

OTC Disclosure & News Service

 

INNOVATIVE COMPOSITES INTERNATIONAL INC. ANNOUNCES ADVANCED NOTICE BY-LAW

May 14, 2013

OTC Disclosure & News Service

Toronto, ONT, Canada -

May 7, 2013 - Toronto, Ontario - Innovative Composites International Inc. (“ICI” or the 
“Company”), (TSXV: IC) (OTCQX: ICIZF), a producer of proprietary engineered composite 
products, announced today that its board of directors (the “Board”) has approved the amending 
and restating of the Company’s by-laws to introduce an advance notice requirement in connection 
with shareholders intending to nominate directors in certain circumstances (the “Advance Notice 
Procedures”).

The Advance Notice Procedures set forth a procedure requiring advance notice to the Company 
by any shareholder who intends to nominate any person for election as director of the Company 
other than pursuant to (i) a requisition of a meeting made pursuant to the provisions of the 
Business Corporations Act (Ontario) (the “OBCA”), or (ii) a shareholder proposal made pursuant 
to the provisions of the OBCA. Among other things, the Advance Notice Procedures set a 
deadline by which such shareholders must notify the Company in writing of any intention to 
nominate directors prior to any meeting of shareholders at which directors are to be elected and 
set forth the information that the shareholder must include in their notice for it to be considered 
valid.

The Advance Notice Procedures provide a clear and transparent process for all shareholders to 
follow if they intend to nominate directors. In that regard, the Advance Notice Procedures provide 
a reasonable time frame for shareholders to notify the Company of their intention to nominate 
directors and require shareholders to disclose information concerning the proposed nominees that 
is mandated by applicable securities laws.

In the case of an annual meeting of shareholders, notice to the Company must be made not less 
than 20 and not more than 65 days prior to the date of the annual meeting; provided, however, 
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 10th day following such public 
announcement.

In the case of a special meeting of shareholders (which is not also an annual meeting), notice to 
the Company 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 Advance Notice Procedures is effective immediately and will be placed before shareholders 
for ratification at the upcoming annual meeting of shareholders of the Company (the “Meeting”) 
to be held on June 6, 2013.

The Advance Notice Procedures are in effect until confirmed, confirmed as amended or rejected 
by shareholders at the Meeting and, if confirmed at the Meeting, the Advance Notice Procedures 
will continue in effect in the form in which they were so confirmed.

About Innovative Composites International Inc.
Headquartered in Toronto, Canada, Innovative Composites International Inc. (TSXV: IC) 
(OTCQX: ICIZF) is a high-tech engineering and manufacturing company whose goal is to utilize 
its proprietary “green” composite materials and building systems to provide innovative, 
engineered product solutions to markets that include prefabricated modular housing, shelters and 
containers, and industrial applications.

To find out more about ICI please visit our website at: www.innovativecompositesinc.com.

Contact Information:
Sam Greiss
Chief Financial Officer
(416) 646 0754
sgreiss@innovativecompositesinc.com

Neither 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.

Statements made in this press release include forward-looking statements that involve a number 
of risks and uncertainties. These statements relate to future events or future performance and 
reflect management's current expectations and assumptions. A number of factors could cause 
actual events, performance or results to differ materially from the events, performance and 
results discussed in the forward-looking statements, such as the economy, generally, competition 
in its target markets, the demand for ICI’s products and the availability of funding. These 
forward-looking statements are made as of the date hereof and ICI does not assume any 
obligation to update or revise them to reflect new events or circumstances. Actual events or 
results could differ materially from ICI’s expectations and projections.

Copyright © 2013 OTC Markets. All Rights Reserved


The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.