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Item 5.02
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Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain
Officers; Compensatory
Arrangements of Certain Officer
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Effective October 2, 2017, Devon Loosdrecht resigned as
president, chief executive officer, secretary, treasurer and as a director of
our company. Mr. Loosdrecht's resignation was not the result of any
disagreements with our company regarding our operations, policies, practices or
otherwise.
Concurrently with the resignation of Mr. Loosdrecht, Lawrence
Stephenson was appointed as our president, chief executive officer secretary,
treasurer and as the sole director of our board of directors. There is no
understanding or arrangement between Mr. Stephenson and any other person
pursuant to which Mr. Stephenson was selected as a director. Mr. Stephenson does
not have any family relationship with any director, executive officer or person
nominated or chosen by us to become a director or executive officer.
Lawrence Stephenson - President, Chief Executive Officer,
Secretary, Treasurer and Director
Mr. Laurie Stephenson, MBA, BSc, Geologist, graduated in 1975,
from Carlton University in Ottawa, Ontario, Canada, with a Bachelor of Science
Degree in geology and in 1985, from York University in Toronto, Ontario, Canada,
with a Masters of Business Administration is responsible for negotiations with
numerous exploration companies, prospectors and governmental departments to
secure prospects and permits to enable various junior companies to conduct their
exploration programs. In addition, to hiring and evaluating geological staff,
preparing engineering and assessment reports, investor reports and business
plans, he was responsible for ensuring the company conformed to Securities and
Mining regulations.
From 1975 to 1985, Mr. Stephenson was District Geologist for
Duval International Corporation of Toronto, Ontario where his duties the
planning, organizing and budgeting for exploration programs throughout Eastern
Canada and the United States. During that time, he assisted in the formation of
local governmental lobby groups in the Province of Newfoundland and Labrador.
In October 1987, Mr. Stephenson became a director of Glencairn
Explorations Ltd., a company listed on the TSX Venture Exchange where he was
instrumental in organizing the company’s venture into a South American diamond
placer project and participating in financing and geological advise with respect
to ongoing ventures for the company including the start up of gold producer
Wheaton River Explorations Inc., an independent subsidiary of Glencairn
Explorations Ltd. He remained a director of this company until 2002.
In 1989, he initiated a junior exploration company, Kokanee
Explorations Ltd. which raised over $8 million for exploration ventures in
Canada and the United States and was the director of exploration for Golden
Chief Resources when it concluded and operated it’s 1998-1999 joint venture with
Kinross Gold Company on the Atlanta Property of eastern Nevada.
Since 1999, Mr. Stephenson was involved in the reorganization
of Sutcliffe Resources Inc., a company listed on the TSX Venture Exchange in
Canada, which subsequently raised $55 million for projects in Russia.
In addition, to working with Sutcliffe Resources Inc.
(2001-2008) he worked with several associated Junior mineral exploration and
development companies in the Senior Geologist Manager role including
Consolidated Goldwin Ventures (Now WestKam Gold Inc.), Sidon International
Resources (now Cameo Resources Ltd.) and Douglas Lake Minerals Inc (now Handeni
Gold Inc.) directing exploration for the companies throughout Canada the United
States and throughout the world (South America; Africa and Australia including
Diamond Projects in NWT, copper platinum in Ungava Northern Quebec Canada,
copper and gold in Kamloops British Columbia, Canada, gold in Tanzania and gold
and Diamonds in Brazil).
Mr. Stephenson has over 35 years of experience working for
junior and senior mining companies in Canada, USA Mexico, South America and
Tanzania. He is a member of the Professional Engineers Association of Ontario.
Our company believes that Mr. Stephenson ' professional
background experience give him the qualifications and skills necessary to serve
as a director and officer of our company.
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