Probe Mines Announces Annual and Special Shareholder Meeting; Nominates Basil
Haymann to the Board of Directors; and Announces
Proposed Shareholders' Rights Plan
TORONTO, ONTARIO -- (Marketwired) -- 09/19/13 -- Probe Mines Limited
(TSX VENTURE:PRB) ("Probe" or the "Company") wishes to announce that
the 2013 Annual and Special Shareholder Meeting will be held on
Tuesday, October 29 at 2pm EST at the Toronto Board of Trade, located
at 77 Adelaide Street West, Toronto, ON M5X 1C1 (the "Meeting"). The
meeting is being called to elect directors and appoint auditors, as
well as to consider certain special business including confirmation
of a new shareholder rights plan adopted by the board of directors of
Probe. A copy of the information circular for the annual and special
meeting will be available on SEDAR at www.sedar.com.
The directors nominated for election by management are Patrick Reid
(Chair), David Palmer (President & CEO), John Gammon, Gord McCreary,
Dennis Peterson and Basil Haymann, a new nominee.
Mr. Haymann is an accomplished businessman and successful
entrepreneur, with over 40 years of experience focused on
identifying, developing and advancing a broad spectrum of business
A native of South Africa who immigrated to the United States over
thirty years ago, he developed a series of successful companies in in
the diamond/fine jewelry sector in the first part of his career some
of which were sold to a NASDAQ-listed public company. In 1991, Mr.
Haymann expanded his business interests and became Chairman and CEO
of Sun Ports International, Inc., a manufacturer of shade structures.
Sun Ports merged with Shade Structures in 2000, a west coast producer
of shade structures, and FabriTec Structures, producer of large
waterproof fabric structures such as those used for stadiums or
airports. In 2004, the company formed Vehicle Protection Structures
for automobile dealerships and parking facilities, and Shade Concepts
to produce structures for the wholesale market. In 2006, Mr. Haymann
established USA SHADE & Fabric Structures, Inc., a holding company,
for all of these businesses. He is currently Chairman of the Board.
Mr. Haymann founded D4D Technologies LLC in 2002, to develop 3-D
laser technology for dentistry and served as Chairman and CEO. In
2006, he sold a significant interest in D4D Technologies to Fortune
500 companies, Henry Schein Dental, one of the largest global
distributors of dental products, and 3M ESPE, a manufacturer and
marketer of more than 2000 dental products and services. Upon D4D
Technologies' product becoming commercialized, Mr. Haymann resigned
in 2009, but remains a Board Member and retains his ownership
In 2009, he co-founded Guard-All Building Solutions Ltd., a business
which manufactures and installs tension fabric buildings operating in
the United States and Canada. Mr. Haymann is currently on the Board.
Patrick Reid, Chairman of Probe, states: "We are extremely pleased to
nominate Basil to the Probe Board of Directors. His wealth of
experience, entrepreneurial vision, outstanding business acumen and
ability to take companies to the next step will provide a significant
contribution to the Company as the Borden Gold Project continues its
progress towards development."
Adoption of a Shareholder Rights Plan
The new shareholder rights plan (the "Rights Plan") has been adopted
by the board of directors of Probe and is effective September 19,
2013. Probe intends to seek shareholder confirmation of the Rights
Plan at the annual and special meeting of shareholders currently
scheduled to be held on October 29, 2013. The Company's rights plan
implemented with shareholder approval on August 16, 2010 will be
allowed to expire at the meeting in accordance with its terms.
The objective of the Rights Plan is to ensure, to the extent
possible, that all shareholders of the Company are treated equally
and fairly in connection with any initiative to acquire control of
the Company. The Rights Plan is not intended to and will not prevent
a take-over of the Company. The purpose of the Rights Plan is to
encourage a potential bidder to make a "Permitted Bid", having terms
and conditions designed to meet the objectives of the Rights Plan, or
to negotiate the terms of an offer with the board of directors of the
Company. A Permitted Bid is a take-over bid that is made to all
holders of voting shares of the Company for all of the voting shares
held by them, by way of a take-over bid circular prepared in
compliance with applicable securities laws, that remains open for
acceptance by shareholders of the Company for 90 days (or such
shorter period of time as may be approved by the board of directors
of the Company from time to time), and that satisfies certain other
If the Rights Plan is confirmed at the meeting, the Rights Plan will
continue in effect for a period of three years, unless earlier
terminated in accordance with its terms. A complete copy of the
Rights Plan is available upon request. Shareholders wishing to
receive a copy of the Rights Plan should make their request by
telephone at (416) 777-6703, by email at email@example.com or by
mail to Probe Mines Limited, 56 Temperance Street, Suite 1000,
Toronto, Ontario M5H 3V5, Attention: Mr. Patrick Langlois. A copy of
the Rights Plan is also available on SEDAR at www.sedar.com. All
capitalized terms where used in this summary without definition have
the meanings attributed to them in the Rights Plan.
About Probe Mines:
Probe Mines Limited is a Canadian precious metals exploration company
whose key asset is the Borden Gold Zone in Ontario, Canada. As of
April 30, 2013, the Company had approximately $28 million in treasury
and a portfolio of highly prospective mineral properties. In May
2013, the Company closed a private placement of $15 million. As a
result of the financing, Agnico Eagle Mines Limited now owns 9.9% of
the Company on a non-diluted basis. The Company is actively exploring
a significant new gold resource on its Borden Gold Zone near
Chapleau, Ontario and has 100% interest in the Black Creek chromite
deposit located in Northern Ontario. The Company's shares trade on
the TSX Venture Exchange under the symbol PRB.
David Palmer, Ph.D., P.Geo., is the qualified person for all
technical information in this release. To find out more about Probe
Mines Limited, visit our website at www.probemines.com.
On behalf of Probe Mines Limited,
Dr. David Palmer, President & Chief Executive Officer
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.
This News Release includes certain "forward-looking statements".
These statements are based on information currently available to the
Company and the Company provides no assurance that actual results
will meet management's expectations. Forward-looking statements
include estimates and statements that describe the Company's future
plans, objectives or goals, including words to the effect that the
Company or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as
"believes", "anticipates", "expects", "estimates", "may", "could",
"would", "will", or "plan". Since forward-looking statements are
based on assumptions and address future events and conditions, by
their very nature they involve inherent risks and uncertainties.
Actual results relating to, among other things, results of
exploration, project development, reclamation and capital costs of
the Company's mineral properties, and the Company's financial
condition and prospects, could differ materially from those currently
anticipated in such statements for many reasons such as: changes in
general economic conditions and conditions in the financial markets;
changes in demand and prices for minerals; litigation, legislative,
environmental and other judicial, regulatory, political and
competitive developments; technological and operational difficulties
encountered in connection with the activities of the Company; and
other matters discussed in this news release. This list is not
exhaustive of the factors that may affect any of the Company's
forward-looking statements. These and other factors should be
considered carefully and readers should not place undue reliance on
the Company's forward-looking statements. The Company does not
undertake to update any forward-looking statement that may be made
from time to time by the Company or on its behalf, except in
accordance with applicable securities laws.
Probe Mines Limited
Director of Corporate Communications
Probe Mines Limited
Vice President, Corporate Development
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