On page 9 & 10 of the management circular, it states that the TSX has made a new ruling that all directors must resign and be re-elected on a yearly basis.
But then it goes on to say that this will be voted on at the meeting. If it is a TSX requirement, why would it be voted on at the AGM?
Interesting to see that Murry has not resigned, and yet they have replaced his name with Robert Krause??
In the absence of instructions to the contrary, the persons whose names appear on the
enclosed WHITE proxy will vote for the special resolution to amend the Company’s
Articles to remove the staggered board provisions.
SIZE OF THE BOARD OF DIRECTORS
In the absence of instructions to the contrary, the persons whose names appear on the
enclosed WHITE proxy will vote for the resolution to fix the number of directors at five.
ELECTION OF DIRECTORS
The Company’s Board currently has five members. The term of office expires this year for two
members, Lori L. McClenahan and Donald Bastien. Further, as required by the Exchange and as
discussed above, the Company has received resignations from Tina Whyte and Paul McDonald,
two of the three incumbent members of the Board whose terms do not expire. The Company has
requested, but has not yet received, the resignation of Murry Braucht, the third incumbent
member of the Board whose term does not expire. St. Elias has nominated Ms. McClenahan, Ms.
Whyte, Mr. McDonald, Mr. Bastien and Robert Krause for election as directors at the Meeting
