BNP Resources Inc. V.BNX.A

BNP - Letter to Shareholders - July 2018

[BNPResources]

RE: July 2018 - Letter to Shareholders

 
Dear Shareholders:
 
The purpose of this monthly letter is to bring BNP shareholders up to date, on issues and news, since the last letter.
 
The following is a summary of business development activities and research for this month:
 

1. Planning field trip for the confidential Marthas Vineyard project, towards the end of August to early September. Internally, management and directors are very confident regarding prospects for this project. We obtained very good background information during our work, over the past month. We have a nominee for legal counsel that will be announced once this project advances. His legal skills and experience are a match for these specific project needs. We are also seeking 2-3 female shareholders with an interest in joining our board of directors. These directors would be appointed to serve until the next formal annual general meeting. Candidates must be at least 18 years old, Canadian citizens and willing to attend meetings in Calgary, Alberta, in person or by phone. Our goal is to have gender parity (50% male, 50% female) on our board, in the event that this project proceeds. Wives of shareholders are encouraged to apply.
2. If we do not see a path forward with the Marthas Vineyard project by the end of November, our focus will be to complete the tax loss accounting filing with CRA, to 2012, and work towards a merger with a marijuana company, with our main asset being a large tax loss.
3. We are dealing with a landowner wishing to have their land lease payment increased from $2,200 annually to $3,800. The well on the property has been abandoned downhole and there was never any production. The Government of Alberta has been paying these leases for companies unable to afford to do so, with a judgement issued to the operator. We are opposed to this increase and will likely go before the responsible Alberta authority to oppose this proposal.
4. The BNP offices will be closed between August 4^th and August 18^th for our annual summer break.