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BNPResources on Jun 02, 2019 6:26pm
BNP - April 2019 - 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. Marthas Vineyard Project (MVP) / New Name is Motown Corridor Project: This project has now gone live with all information now in the public domain: (a) We currently have a government subsidized bridge project (Gordie Howe Bridge), under construction, competing with a private American owned bridge (Ambassador Bridge). Due to US law being different than Canadian law, we anticipate future US legal challenges, which, in the opinion of BNP management, will delay the construction of the new Howe Bridge. It is our opinion, that the only solution, to get the Howe Bridge into the full construction phase, without legal challenges, is for the GOC to purchase the Ambassador Bridge from the US Owners. Only time will tell if our analysis and proposed solution are correct. We recommend that shareholders follow the news in the Windsor Star, as the project proceeds. The current news reported, is that this project is proceeding without delay (current construction is mainly utilities and offsites work). The Canadian federal election is scheduled for October 2019. We anticipate legal challenges, in the US courts, between May and September of 2019. (b) Lobbycanada.gc.ca BNP Resources are now registered as a Canadian lobbyist, tasked with the goal of lobbying the Government of Canada to purchase the Ambassador Bridge between Windsor and Detroit, Michigan. The Ambassador Bridge is privately owned by US interests. Warren Buffet had been an owner of Ambassador Bridge bonds, prior to the purchase by the current owners. (c) We have applied to register our Trademark, Motown Corridor, in the USA. We have chosen the name Motown Corridor to represent our project goal, which is to bring ownership of both bridges, and the Canadian land assets, under a single owner. It is our intention for trucks to use the new bridge, while cars will mainly utilize the old bridge. This is not possible under US law, unless a single owner, controls both bridges. Having ownership of the Motown Corridor, under a single entity, will allow for the preservation and redevelopment of the Historic Sandwich neighborhood. The Currie Barracks land, was redeveloped by Canada Lands, in Calgary. We will work towards a similar goal in Sandwichtown. (d) Our website domain name is motowncorridor.com. The website has been set up as a blog and one needs to navigate to the About Us screen to get the background details. This is a very basic website that was developed in house, at a total cost of $200 US. It was done quickly to meet an April 30th deadline to go-live (first draft). Thanks to our director, Dave Doody, for the photographs. Thanks to our shareholders that offered assistance. Our budgets were limited, but we did the best we could on a $200 budget, and an April 30th deadline. Well add future topics along with the project news cycle. The website may be updated and modified over time. (e) The paperwork and registration phase of the project is now complete. The next stage is sales and promotion, which is the fun part. There is no guarantee that we will succeed, but we are focused on ensuring that construction can proceed without delays, as good quality union, construction and professional jobs are our priority. It is important that we work towards keeping Canadian labor fully employed in Southern Ontario. This project will benefit the Windsor and local communities. 2. Acquisition and Divestment (A&D) Business Unit We are working on two business development proposals, both of which are early stage. A third proposal will be discussed next week, and if agreed, could become our third proposal under development. Each of these projects involves other partners, which would share in the overall proceeds. This is where our company growth will be focused. 3. Hotel and Land Development Business Unit Had discussions with a developer offering a land package zoned for 70 residential units, in a high growth / stable area of Canada. This opportunity requires access to some capital but we will continue discussions, based on potential wins from our A&D business unit. BNP would act as our own general contractor. After looking at various hotel opportunities, it is our opinion that constructing a new hotel (or full renovation of an existing hotel) is the preferred method to enter the market. Business customers and our female focus group, are very selective and have high expectations on where they will stay. 100% parking is also required for current business travelers. 4. One of our early friends of BNP Resources, Tunde Agbi, president and CEO of Ambit Energy (Nigeria oil play) has passed away on Sep 8, 2018 at age 73. I was grateful for having met Tunde as he was a gentleman, and taught me a great deal about the Nigerian Oil business and international tax law. 5. We would like to congratulate Giacomo Grassi for his appointment as a director of Spectra Inc. (C:SSA). Mr. Grassi is also a director of KFG Resources.