The date of this Information Circular is April 29nd, 2022. Unless otherwise stated, all amounts herein are in Canadian dollars
To the knowledge of the directors and executive officers of the Company, no person or company beneficially owns, directly or indirectly, or exercises control or direction over, Shares carrying more than 10% of the voting rights attached to the outstanding Shares
Name and Position Year Salary 2 $ Sharebased awards $ Optionbased awards $ Non-equity incentive plan Pension Value $ All Other Compensation $ Total $ Annual Incentive Plans $ Long Term Incentive Plans
Kevin Smith CEO and Director 1 2022
$200,000 $812,400 $Nil $Nil $Nil $Nil $Nil $1,012,400
2021 $16,666 $182,450 $Nil $Nil $Nil $Nil $Nil $199,116 2020 $Nil $Nil $Nil $Nil $Nil $Nil $Nil $Nil
Braydon Hobbs 3 CFO 2022 60,000 $246,150 $Nil $Nil $Nil $Nil $Nil $306,150 2021 $5,000(2) $66,750 $15,005 $Nil $Nil $Nil $Nil $86,755 2020 $14,791 $Nil $Nil $Nil $Nil $14,791
Alex Bayer 4 General Counsel and Corporate Secretary 2022 $161,125 $479,200 $Nil $Nil $Nil $Nil $Nil $640,325 2021 $14,000 $133,500 $37,512 $Nil $Nil $Nil $Nil $185,012 2020 $Nil $Nil $Nil $Nil $Nil $Nil $Nil $Nil
Grant Carlson 5 Chief Operating Officer 2022 $100,000 $432,400 $Nil $Nil $Nil $Nil $Nil $532,400 2021 $8,750 $97,900 $22,507 $Nil $Nil $Nil $Nil $129,157 2020 $Nil $Nil $Nil $Nil $Nil $Nil $Nil $Nil
Ronald Woo 6 President 2022 $100,000 $432,400 $Nil $Nil $Nil $Nil $Nil $532,400 2021 $8,333 $97,900 $22,507 $Nil $Nil $Nil $Nil $128,740 2020 $Nil $Nil $Nil $Nil $Nil $Nil $Nil $Ni
1. Kevin Smith was appointed as a director and the Chief Executive Officer on November 5, 2018 and provides services through Bypass Equipment Ltd.
2. Members of management entered into consulting agreements effective January 1, 2021 and agreed to defer salary payments pending the commencement of commercial production. The Company anticipates beginning to pay salaries during the year ended January 31, 2023.
3. Mr. Hobbs was appointed as the Chief Financial Officer on December 23, 2020 and provides services through 1278194 BC Ltd.
4. Mr. Bayer was appointed as General Counsel and Corporate Secretary on December 23, 2020 and provides services through Bayer Law Corporation.
5. Mr. Carlson was appointed COO on December 23, 2020 and provides services through 1202798 BC Ltd.
6. Mr. Woo was appointed President on December 23, 2020 and provides services through Ronald Woo & Associates Ltd.|
The NEOs compensation in 2022 was heavily depending on the Company hitting certain milestones. The success of Company in areas relating to the Elk Gold Project. Milestones that were achieved which resulted in the conversion of a significant number of PSUs include: Finalizing the Ore Purchase Agreement and mining contract arrangements, growing the 43-101 compliant resource estimate, obtaining the mine permit and effluent discharge permit, conducting two successful capital raises, graduating to the TSX, achieving certain share price metrics and other less material milestones