Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers
On August 20, 2019, Michael Hough issued a resignation as the Secretary of
Playbox(US), Inc. pursuant to a Securities Purchase Agreement with Hydro Power
Technologies Inc.
Concurrently, the following new Officers and Directors have been selected to
service the Company and ensure continuity of its business and corporate affairs:
Michael Shamber, President/Director
Calvin Lucyshyn, CFO,
Darren Timmer, Secretary, Treasurer,
Marlene Schluter, VP, Bus. Affairs, Manager, Corporate Governance,
John Versfelt, Director of the Company
The biographical information for the new Officers and Directors is as follows:
Michael Shamber - President/Director
Michael joined Hydro Power Technologies, Inc in August 2013 as President.
Michael's previous roles included Vice President of Acquisitions at
International Properties Group Ltd. a publicly held real estate corporation.
Michael was a key facilitator of large and complex commercial real estate
transactions and successfully transitioned into the role of Vice President at
Mortgage Alliance Canada. Over the last 14 years, Michael was responsible for
key account relationships for both public and private sector clients. Currently
Michael is overseeing the transition of the company to a publicly traded entity.
Michael will manage all vendor financial plans and prepare budgets, tax
structures and strategies as required.
Calvin Lucyshyn - CFO
Mr. Lucyshyn is a Director and CFO of Credent. Mr. Lucyshyn, a chartered
accountant since 1993, has held financial control and reporting positions in the
drilling industry for over eighteen years. From 1994-2005 he was the Controller
for Westbay SonshipYacht Builders Ltd., a semi-custom builder of fiberglass
motor yachts. From 1998 to 2003 he was the Financial Controller at The Crossing
Company Inc., a civil engineering horizontal drilling company operating in
Canada and the USA. He is currently the CFO/Controller of Cabo Drilling Corp., a
drilling service contractor for the mineral exploration industry, with locations
throughout Canada, Central and South America, and Western Europe, a position he
has held since 2005, and the CFO for IMMC, a position he has held since 2006.
Mr. Lucyshyn was the Director and CFO of Fortify Resources Inc. from July 2015
to November 2016. Mr. Lucyshyn was the CFO of Cabre Capital Corp. from March
2010 to June, 2011. Mr. Lucyshyn earned a Bachelor of Commerce degree from the
University of Saskatchewan in 1990. Mr. Lucyshyn will devote such time and
expertise as is reasonably required by the Resulting Issuer.
Darren Timmer - Secretary, Treasurer
Mr. Timmer is Corporate Secretary of Credent. Mr. Timmer has 13 years of
regulatory and policy experience. He has worked for Cabo Drilling since 2005,
and is currently Corporate Secretary, a position he has held since 2011. Mr.
Timmer is also Corporate Secretary for IMMC and Fortify Resources. Mr. Timmer
was the President of Coquitlam Search and Rescue Society, from 2014 to 2016 and
a Board Member from 20018 to 2018. Mr. Timmer earned a Bachelor of Science
(Honors) in Geography from the University of Victoria in 2001 and a Master of
Arts in Geography from the University of Guelph in 2004. Mr. Timmer will devote
such time and expertise as is reasonably required by the Resulting Issuer.
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Marlene Schluter VP, Bus. Affairs, Manager, Corporate Governance
Vice President, Corporate Governance On board of Hydro Power Technologies, Inc
in June 2014 as Vice President of Corporate Governance Marlene is currently
responsible for all compliance, corporate resources, regulatory requirements
while working in partnership with the Board to ensure corporate mission
statement, strategic initiatives and social responsibility. As one of a few
female senior executives in the hydropower generation industry; Marlene brings
more than 25+ years of global experience working with SME's, public
corporations, merchant banks, social enterprises, NGO's and regulatory agencies.
Prior to joining Hydro Power Technologies, Inc. (HPT), Marlene co-developed and
led three start-up businesses in mining, technology and M/A sectors where she
held senior roles with corporate finance, regulatory compliance, capital raise
transactions and corporate resources . Marlene maintains professional
association with Women's Executive Network WXN, Vancouver Board of Trade, 100
Women Who Care and Variety Children's Charity and retains licenses with the
Canadian Securities Institute Series 7/63 ( NASD)- US securities broker, and
alumni of Ivey Executive Leadership Program form Western University. Marlene
holds a Bachelor of Education (Economics) from Simon Fraser University and an
MBA from University of British Columbia in International Business. Serves on
several boards of public and private companies, acts as an advisor and held
senior leadership roles as COO, CFO and VP.
John Versfelt - Director
Mr. Versfelt is a Director, President and CEO of Credent; and a Director,
Chairman, President and CEO of Cabo Drilling Corp., a Canadian drilling services
company. He has been an officer of Cabo Drilling Corp. since 1992. He is a
Director, President and CEO of International Millennium Mining Corp. ("IMMC"), a
mineral exploration company and has been an officer of it since 1992. Both of
these companies are British Columbia/Alberta reporting issuers trading on the
TSX-Venture Exchange.
Mr. Versfelt is also currently a Director of Fortify Resources Inc., a reporting
issuer in British Columbia, Alberta and Ontario, listed on the Canadian
Securities Exchange. Mr. Versfelt was a director of Cabre Capital Corp., Avian
Capital Inc., and Open EC Technologies Inc., and is currently the President of
American Resource Management Consultants Inc., a private company that has
provided management consulting, accounting, administration and
paralegal/regulatory services to numerous private and public companies since
1982.
Mr. Versfelt earned a Bachelor of Arts (Commerce) from Simon Fraser University
in 1976.
Item 8.01 Other Events
As of August 20, 2019, the Company's current address is 4200 Morris Drive,
Burlington, ONT L7L5L6 Canada and the telephone number is (888) 993-0989.
On January 13, 2020, the Company issued a Proxy Statement to all record holder
shareholders as of December 31, 2019 to Ratify the new officers and directors of
the Company and a vote to petition the Wyoming First District Court to Terminate
the Custodianship. The shareholder meeting will be held on February 4th, 2020.
Additionally, Hydro Power Technology, Inc. has appointed Mountain Share Transfer
as Trustee for the 1 Billion shares obtained pursuant to the Securities Purchase
Agreement with Michael Hough. Mountain Share Transfer will be issuing the
Playbox(US), Inc. common stock to Hydro Power Technology, Inc. shareholders in
return for Hydro Power Technology, Inc. shares, Mountain Share Transfer will be
returning 500 Million of the 1 Billion shares to the Company treasury and will
be holding the remaining shares to be determined future transfers by Hydro Power
Technology, Inc. The Company will also be filing a civil complaint to return
32,000,000 shares of common stock to the Company for non-payment for shares
issued in 2011. The Company has the original certificates which were never
delivered.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit Number Description
99.1 Resignation Letter of Michael Hough dated August 22nd , 2019
99.2 Proxy Statement to Shareholders
99.3 Affidavit of Mailing January 13, 2020 for Record Shareholders on
December 31, 2019
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