Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On November 8, 2021, the board of directors of TrueNorth Quantum, Inc., a Nevada
corporation formerly known as United Royale Holdings Corp. (the "Company"),
appointed William Douglas (Doug) Beynon and David Mironov as directors of the
Company. Neither Mr. Beynon nor Mr. Mironov has any family relationship with any
other director, executive officer, or person nominated or chosen to become a
director or executive officer of the Company. There is currently no written
agreement between the Company and Mr. Beynon or Mr. Mironov.
Doug Beynon is a director and shareholder of TrueNorth Quantum Inc., an Alberta,
Canada corporation ("TrueNorth"), and David Mironov is a director of TrueNorth.
Both Messrs. Beynon and Mironov participated in the Company's acquisition of a
majority interest of TrueNorth, as described in the Company's Current Report on
Form 8-K filed with the SEC on October 13, 2021, as part of a related party
transaction.
With the appointments of Messrs. Beynon and Mironov, the Company's board of
directors has also formed an Audit Committee and Compensation Committee. The
Company's Audit Committee consists of Doug Beynon, as Chairman, and Witold
Ostrenko and David Mironov. The Company's Compensation Committee consists of
David Mironov, as Chairman, and Witold Ostrenko and Doug Beynon.
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