Mr. Derek Liu reports
CROWFLIGHT AMENDS DISCLOSURE RECORD
Crowflight Minerals Inc., consequent upon a review by
staff of the Ontario Securities Commission (OSC), on Jan. 13,
2011, filed supplemental executive compensation disclosure
to supplement the information contained in the company's management
information circular dated April 9, 2010, on SEDAR.
This supplemental disclosure is to comply with the requirements of Form
51-102F6, statement of executive compensation, to provide additional
executive compensation disclosure for the company to supplement the
information contained in the circular. Specifically, it includes
information stating that Stan Bharti was a "named executive
officer," which was not disclosed in the circular, correcting and
clarifying the company's disclosure regarding the use of benchmarking
to determine salaries of executive officers (including the chief
executive officer) and the establishment of performance goals to
determine bonuses, and including a discussion of how the trend in
the performance graph compares with the trend in the company's
compensation of executive officers.
The company also filed on SEDAR on Nov. 25, 2010, a redacted version of
a material contract, namely its Bucko Lake concentrate sales agreement
dated July 11, 2007, between the company and Xstrata Nickel Inc. Pursuant to the offtake arrangement, the
company has agreed to sell, and Xstrata Nickel has agreed to
purchase, 100 per cent of the nickel concentrate produced at the Bucko Lake mine
at commercially competitive terms during the life of the Bucko Lake
mine. This material contract should have been filed at an earlier date
and was filed as a result of a review by the OSC.
The material change report filed on Jan. 5, 2011, related to the company's Stockwatch news release dated Dec. 29, 2010, about the issuance of 58.4 million
shares for partial debenture conversion, and the material change
reports filed on Aug. 16, 2010, related to the company's Stockwatch news release dated June
16, 2010, about the change of board of directors and King Place's
additional investment in the company, and the company's Stockwatch news release dated
Nov. 16, 2009, about the temporary suspension of Bucko Lake mine
operation, should have been filed at an earlier date and
were filed as a result of a review by the OSC.
We seek Safe Harbor.
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