To the knowledge of the directors and officers of the Company, the following nominee together with associates as defined by the Ontario Securities Act and the Canada Corporations Act holds 10% or more of the issued and outstanding shares of the Company. AR Se Renned yi cies ese eee a ee ee eee ee 1 Associates: Conwest Exploration Company Limited’>...5.5)5. 022-44. 550,100 550,101 Remuneration of Officers and Directors The aggregate direct remuneration paid by the company during the year ended December 31, 1974:— ita). {ilavsy soluoRReorn GGACKONES co. coscc succes ccbaceuovsnduuderrunubancas Hox $ 18,950 To the seven officers of whom five are directors .................-...2.0-- 224,300 To three others, deemed officers pursuant to the Provincial Securities Acts ..... 94,670 $ 337,920 The aggregate cost to the company during the year ended December 31, 1974, with respect to all pension benefits proposed to be paid in the event of retirement at normal retirement age (65 years):— IReidirectorsnandaoihicens memes tee ree tee alee terrane rar er rere $ 26,835 Re three others, deemed officers pursuant to the Provincial Securities Acts ...... 9,990 $ 36,825 In consideration of the Chairman contracting to continue his services to retirement, the Company is providing for additional pension benefits, the cost of which for the year under review and the annual cost thereafter to December 31, 1980, is $3,886 per annum. In consideration of the Vice-President and Secretary contracting to continue his services to 1980, the Company is providing for additional pension benefits commencing May 1, 1975, to be provided by a single payment of approximately $95,884 payable on or before May 1, 1975. Appointment of Auditors It is proposed that Clarkson, Gordon & Co., Chartered Accountants, the present Auditors, be re-appointed as auditors of the Company, to hold office until the next Annual Meeting of Shareholders at a remuneration to be fixed by the board of directors of the Company. Clarkson, Gordon & Co. have been the auditors of the Company since its inception. Other Business The management is not aware of any matters to be presented for action at the meeting other than those listed in the notice of meeting. However, if other matters properly come before the meeting, it is the intention of the persons named in the accompanying instrument of proxy to vote the said proxies in accordance with their best judgment on such matters. By Order of the Board of Directors, C. R. ELLIOTT, Secretary. DATED March 14, 1975, Toronto, Canada. PAGE TEN