PIEDMONT, QC, Aug. 28, 2020 /CNW Telbec/ - Typhoon Exploration Inc. (TSX-V: TYP) ("Typhoon" or "the Company") announces the following changes the information circular issued for its Annual general meeting to be held on September 9th.
The Company has decided to:
- Lower the salaries of Mr. Ghislain Morin (CEO) and Mr. Serge Roy (Chairman of the Board) by 50%, for the duration of one (1) year starting September 1, 2020;
- Lower by 50% the provisions of Mr. Morin's and Mr. Roy's employment contracts;
- Cancel the purchase of a property belonging to 9400-4579 Quebec Inc.
Since the arrival of the new Board of directors in November 2019, market capitalization has tripled. Typhoon's new leadership is currently developing an operating strategy to increase the value of the Company's assets for the benefit of its shareholders.
The TSX Venture Exchange and its regulatory service provider (as defined by the TSX-V Venture Exchange rules) cannot be held responsible for the accuracy or veracity of this press release.
SOURCE Typhoon Exploration Inc.