News & Media

Galane Gold Ltd. Announces Meeting Date and Adoption of Advance Notice Bylaw and Shareholder Rights Plan

April 29, 2014

TORONTO, Apr. 29, 2014 /CNW/ - Galane Gold Ltd. ("Galane Gold" or the "Corporation") (TSX VENTURE:GG) today announced that its annual and special meeting of shareholders will take place at 10:00 a.m. on Tuesday, June 3, 2014 at the offices of Aird & Berlis LLP, Brookfield Place, 181 Bay Street, Suite 1800, Toronto, Ontario.

The special business to be acted on at the meeting includes a resolution regarding the amendment of the Corporation's Bylaw No. 1 to provide for advance notice of nominations of directors in certain circumstances (the "Advance Notice Provision"). The purpose of the Advance Notice Provision is to give sufficient notice and information regarding director nominations so that shareholders can register an informed vote, and to establish a clear, orderly and efficient process for such nominations. The Advance Notice Provision was adopted by the board of directors of Galane Gold and is effective immediately. It will be placed before shareholders for confirmation at the upcoming shareholder meeting.

The Corporation also announced that its board of directors has adopted and implemented a shareholder rights plan agreement (the "Rights Plan"). The Rights Plan helps to ensure the fair treatment of Galane Gold's shareholders in connection with any takeover bid for shares of the Corporation. The Rights Plan provides Galane Gold's board and shareholders with additional time to evaluate any unsolicited takeover bids and provides the board with adequate time, where appropriate, to seek out alternatives to maximize shareholder value. The Rights Plan is effective immediately and is subject to acceptance by the TSX Venture Exchange and approval by shareholders. The Rights Plan has not been instituted in response to any anticipated takeover bid, but rather as a general planning measure.

Copies of the Advance Notice Provision and the Rights Plan can be viewed under the Corporation's profile on SEDAR at www.sedar.com. Details regarding the above-noted matters will be included in the Corporation's management information circular, to be mailed to shareholders and filed under the Corporation's profile on www.sedar.com.

About Galane Gold

Galane Gold is an un-hedged gold producer and explorer with mining operations and exploration tenements in Botswana. Galane Gold is a public company and its shares are quoted on the TSX Venture Exchange and the Botswana Stock Exchange under the symbol GG. Galane Gold's management team is comprised of senior mining professionals with extensive experience in managing mining and processing operations and large-scale exploration programmes. Galane Gold is committed to operating at world-class standards and is focused on the safety of its employees, respecting the environment, and contributing to the communities in which it operates.

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.