Stans Energy Corp V.HRE.H

RE:RE:AGM

[4putt]

Can you please explain your final note, I don't really quite understand what you mean by them.

Final note: There was a motion from the floor to replace the entire 5 directors based on the premise that the present board was incapable of managing costs. They represented about 15 - 20 M shares and only one of the group was successful on the ensuing ballot...Johnathon Buick...our former IR guy. Robert McKay was bumped from the board. One director told me that Robert's departure was not unexpected
Read more at https://www.stockhouse.com/companies/bullboard/v.hre/stans-energy-corp?postid=21771678#ymByX6QJOhO7GJrQ.99

The election of the board of Directors takes place as one of the last pieces of the formal business of every AGM. Once DV moved the re-election of the present board, a motion was made by a group of investors (sorry the only name I wrote down was Johnathon Buick) to nominate 5 other directors. Our by-laws allow for only 5 Directors. Their concern focused on the burn rate since the last PP. Only one of the group (Johnathon) had been to Krygyz and he was very vague on any details of who he met and what his understanding of the business was about. A number of questions from the floor followed the motion with a particular emphasis on whether we would be issuing a whole new series of "director" options thus diluting shareholder value. At first they vehemently denied any such intention and proclaiming they were simply acting shareholders best interests. However, in the heat of the conversation, one blurted out that they would be entitled to what the existing directors receive. The other point that John kept saying is that the management would not change if they were elected. The end result was 3 of the nominees rec'd about 15 M votes each which were more than Robert's 11M and less than the present 4 directors. The group of dissenters then all confrerred and 4 withdrew leaving Mr Buick as the new director.

I would suggest that investors write to Mr Buiick asking for a fuller explanation of their attempted coup. The good news is that everyone in management and on the board are on full alert. One final comment: Gord Taylor, stood and spoke to the group saying that none of them had visited the office and asked to review the financials and the expenditures of the company and that they and any other investor was more than welcome to come. The company, he said, has nothing to hide and is open to discussion.