MD & A August 2021 from SEDARManagement’s Discussion & Analysis – Quarterly Highlights Three and six-month periods ended August 31, 2021
Officers: Roy-Morin run the parade
Serge Roy: Chairman of the Board, Ghislain Morin: Director, Yves Dufour: Director
Andr Gauthier: Director, Martin Bourgoin: Director
Financing to friends only
a funding of a maximum of 13,636,364 units, each unit being composed of one flow-through common share at a price of $0.055 per flow-through share and one-half (½) subscription warrant, each whole warrant entitling the shareholder to purchase one common share at a price of $0.065 during 24 months following the closing date of the financing.
After Tax cost 0.015¢ per FT share
Sold top asset
August 2019, the Company signed an agreement with Monarch Gold Corporation (hereinafter “Monarch”) to sell the latter its 50% interest in the Fayolle property, for a sale price totalling $2,000,000
IAMGOLD buys Monarch’s Fayolle deposit for $11.5m
Salaries paid to Roy and Morin
On June 2, 2020, Typhoon signed two employment contracts: with its president (Ghislain Morin) and its Chairman of the Board (Serge Roy). These contracts provide the payment of a basic annual salary of $120,000 to each, Mr. Morin and Mr. Roy, for as long as they are employees of the Company. This salary is to be indexed annually according to the consumer price index.
These contracts are of unlimited duration and, if they are terminated by the Company, the Company will be required to pay Mr. Morin and Mr. Roy an amount equivalent to three times the annual indexed salary.
DRAW YOUR OWN CONCLUSION