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abe resources inc (ABEPF) Key Developments

ABE Resources Inc. Announces the Acquisition by Staking of Two Large Gold and Base Metal Exploration Projects in the Abitibi Region of Québec

ABE Resources Inc. at its annual general meeting held on February 26, 2014, reported the acquisition by staking of two large gold and base metal exploration projects in the Abitibi region of Québec. The Mazarin property is located approxmately 50 km north of the town of Amos. It consists of 69 claims covering 3,706 hectares. The property covers over 20km of strike of the Octave River Formation which consists of Archean Rhyolites, Rhyodacites and Dacites, as well as Intermediate and Felsic Tuffs. The Valrennes property is located approxmately 30 km northwest of the past mining town of Joutel, itself located 130km north of Amos, Québec. The property consists of 30 claims covering 1676 hectares. Access is available through forestry roads. It is located east of the dormant Estrades high grade polymetallic deposit, and WNW of the Agnico-Eagle past producing Eagle and Telbel gold mines and the past producing Joutel base metal camp. The property covers over 14km of strike along the Valrennes Formation which is comprised of varying felsic tuffs bound by mafic volcanics to the north and south.

ABE Resources Inc. Secures $657,244 Loan from Investissement Québec

ABE Resources Inc. announced the receipt of a secured loan in the amount of $657,244 from Investissement Québec. The loan is secured by a movable hypothec on the universality of claims and accounts receivable present and future affecting in first rank the Company's tax credit receivable present and future. The loan is mainly secured by ABE's exploration tax credits receivable from Revenue Québec which total $953,702. The loan bears an interest rate of prime (actually 3%) plus 5.5% (effective rate of 11.12%). The loan will mature on December 31, 2014 unless repaid earlier in accordance with the terms and conditions of the loan. The Company intends to use the proceeds of the loan for advancement of its business plan and for working capital.

ABE Resources Adopts Advance Notice By-Law

ABE Resources Inc. announced the adoption by its board of directors of amendments to its By-Laws. By-Law 2014-1 includes a provision that requires advance notice to the Corporation in circumstances where nominations of persons for election to the Board are made by shareholders of the Corporation other than pursuant to (i) a requisition to call a shareholders meeting made pursuant to the provisions of the Business Corporations Act, or (ii) a shareholder proposal made pursuant to the provisions of the QBCA. Among other things, the Advance Notice Provision fixes a deadline by which holders of record of common shares of the Corporation must submit director nominations to the Corporation prior to any annual or special meeting of shareholders and sets forth the information that a shareholder must include in the notice to the Corporation for the notice to be in proper written form. In the case of an annual meeting of shareholders, notice to the Corporation must be made not less than 30 nor 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 40 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 10(th) day following such public announcement. In the case of a special meeting of shareholders (which is not also an annual meeting), notice to the Corporation must be made not later than the close of business on the 15(th) day following the day on which the first public announcement of the date of the special meeting was made. The Advance Notice Provision provides a clear process for shareholders to follow to nominate directors and sets out a reasonable time frame for nominee submissions along with a requirement for accompanying information. The purpose of the Advance Notice Provision is to treat all shareholders fairly by ensuring that all shareholders, including those participating in a meeting by proxy rather than in person, receive adequate notice of the nominations to be considered at a meeting and can thereby exercise their voting rights in an informed manner. In addition, the Advance Notice Provision should assist in facilitating an orderly and efficient meeting process. By-Law 2014-1 will be placed before shareholders at the next annual and special meeting of shareholders of the Corporation scheduled for February 26, 2014.

ABE Resources Inc. Proposes to Approve By-Law 2014-1

ABE Resources Inc. proposed to the Annual and Special Meeting of Shareholders to be held on February 26, 2014 to approve By-Law 2014-1 "Advance Notice Requirement for Nomination of Directors.

ABE Resources Inc., Annual General Meeting, Feb 26, 2014

ABE Resources Inc., Annual General Meeting, Feb 26, 2014., at 14:00 US Eastern Standard Time. Location: The Head Office of the Corporation. Agenda: To receive and consider the financial statements of the corporation for the financial year ended August 31, 2013, the auditors' report thereon, and the annual report of the corporation; to elect the Directors for the ensuing year; to appoint the auditors for the ensuing year and authorize the Directors to fix their remuneration; to consider, and if deemed appropriate, to adopt, with or without amendment, a resolution to approve the stock option plan for the corporation, as described in greater detail in the accompanying management proxy circular; to approve By-Law 2014-1 "Advance Notice Requirement for Nomination of Directors"; and to transact such other business as may properly come before the Meeting or any adjournment thereof.

 

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