Bison LCV Inc. is incorporated under the ABCA and currently has two directors (COO and CEO). Bison LCV is owned by its employees, directors and key service providers and has a commitment in hand to provide the funding required to complete100% of the Evaluation Permit phase activity on its first project. As additional opportunities need to be funded Bison LCV will look to raise capital to fund subsequent stages of the initial project and an expansion of our portfolio of opportunities, and has received very positive support in regards to there being a market interest in investments in the green infrastructure space, into which these projects would fall. Although we expect the company will remain private through this capital raise, we will establish a Board of Directors with representation from new investors, existing investors and people independent of the business with a normal range of duties and responsibilities, at that stage.

Although we have a very positive view on the progression of CCUS as a business opportunity in Alberta, clearly the financial drivers that establish a value for CO2 that affords the ability to pay for services associated with capture and storage will need to be viewed as adequate and permanent, to support investment. They are not today. We feel comfortable dealing with this uncertainty in parallel with progressing the technical definition of the project during the Evaluation Permit phase (<10% of capital) with an expectation the certainty will evolve by the time we seek a commercial Sequestration Lease and final investment decision (90+% of capital) in approximately 18 months after tenure award.

As governance principles we demand honesty and we accept diversity in all its forms. Diverse opinions make for better decisions. Diverse opinions often come from different backgrounds and experiences. Embracing diversity ensures we can hire the best people.