Eastmain Resources Inc. Announces Amendments to RSU Plan
TORONTO, ONTARIO--(Marketwired - April 19, 2017) -
NOT FOR DISSEMINATION IN THE U.S. OR FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
Eastmain Resources Inc. (TSX:ER) ("Eastmain") announces today amendments to its proposed restricted share unit plan (the "RSU Plan") which is to be considered and voted upon at its annual and special shareholder meeting scheduled to be held on Thursday, April 27, 2017 (the "Meeting").
The management information circular of Eastmain dated March 16, 2017 (the "Circular") indicated that at the Meeting, shareholders would be invited to consider, and if deemed fit, authorize the RSU Plan in the form appended as Exhibit "I" to Schedule "A" of the Circular. Eastmain proposes to amend the form of the proposed RSU Plan attached to the Circular in order to incorporate a limitation which would restrict the number of restricted share units issuable thereunder to such number as is equal to 5% of the aggregate number of common shares of Eastmain issued and outstanding from time to time.
Eastmain is committed to best corporate governance practices and has proposed the above amendment in accordance with such mandate. Accordingly, management and the board of directors of Eastmain are of the opinion that the RSU Plan, as amended as described above, is in the best interests of Eastmain and its shareholders and accordingly, unanimously recommend that the shareholders vote for the approval and confirmation of such matters at the Meeting. A copy of the amended RSU Plan has been filed on SEDAR at www.sedar.com.
About Eastmain Resources Inc. (TSX:ER)
Eastmain is a Canadian exploration company with 100% interest in the Eau Claire and Eastmain gold deposits, both of which are located within the James Bay District of Québec. Eau Claire, the Company's core asset, has superior infrastructure within a favourable jurisdiction and is royalty free. Eastmain also holds a pipeline of exploration projects in this new Canadian mining district, including being a partner in the Éléonore South Joint Venture.
Forward Looking Statements - Certain information set forth in this news release may contain forward-looking statements that involve substantial known and unknown risks and uncertainties. These forward-looking statements are subject to numerous risks and uncertainties, certain of which are beyond the control of Eastmain, including, but not limited to the receipt of applicable shareholder and regulatory approvals of the RSU Plan. Readers are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Contact
Eastmain Resources Inc.
Claude Lemasson
President and CEO
+1 647-347-3765
lemasson@eastmain.com
Eastmain Resources Inc.
Alison Dwoskin
Manager Investor Relations
+1 647-347-3735
dwoskin@eastmain.com
