Post by
BNPResources on Dec 02, 2018 9:49pm
BNP - November 2018 - Letter to 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 for this month: 1. Board of directors meeting was held on November 9-10th, 2018, in Cottam, Ontario. The following new officers have been appointed to assist with the Marthas Vineyard project: (a) Dave Doody Vice President Infrastructure. Dave is a 1987 mechanical engineering graduate from Dalhousie University, has been a BNP director since 2015, holds approximately 9% of the outstanding BNP shares, and currently lives in Cottam, Ontario. (b) Brian Doody Vice President Government Relations and General Counsel. Brian is a 1996 McGill Law School graduate, is bilingual in both the French and English languages, and is a member of the Law Society of Ontario. Brian practices law in London, Ontario. (c) John Doody Vice President Taxation. John has been a CPA since 2001 and resides in Yellowknife, NT. Officers and directors currently hold approximately 40% of the BNP shares. Salaries for the new management team are $1.00 CDN per year, per officer. 2. Marthas Vineyard Project Held meetings as planned in November. 3. US Midterm elections I was close on my senate predictions, but not close at all on the congressional results. We are now just two years away from the next US presidential election. Economy is steady with the exception of the lower oil prices. Generally, Americans dont like to pay more than $3.00 per gallon for gas. 4. Met with our previous financier (Big Rob), to discuss the following issues: - Hotel Financier believes that he can raise $20 million in debt financing, for the 200 unit hotel in Grande Prairie. We will work with him to determine if financing can be raised, within the next 3 months. - Financier is not able to raise money for a hostile takeover of the small gold producer in Nevada. We may look at M&A alternatives. 5. We determined that Chinese funding is not available. 6. Standard Exploration is being recapitalized with a new management team, at two cents per share. Standard is investing in USA production in Mississippi and Louisiana. The special meeting of shareholders will be held on Dec 11, 2018 in Calgary. Very positive, assuming the $20 million in funding closes, as planned.