Ms. Alison Alfer reports

WESTERN PACIFIC TRUST COMPANY SHAREHOLDERS APPROVE ALL RESOLUTIONS AT ANNUAL GENERAL AND SPECIAL MEETING

At Western Pacific Trust Co.'s annual general and special meeting, held on May 31, 2023, shareholders of the company voted in favour of management's director nominees, reappointed the auditor and approved the company's new 20-per-cent fixed stock option plan.

Option plan

The board of directors approved the new option plan on Jan. 18, 2023, subject to regulatory and shareholder approval. The option plan is in compliance with the new share-based compensation policy adopted by the TSX Venture Exchange in November, 2021, and supersedes the previous stock option plan. There were no options outstanding under the superseded stock option plan.

The option plan is a 20-per-cent fixed stock option plan, which governs the granting of stock options to directors, officers, employees and consultants of the company for the purchase of up to 20 per cent of the issued and outstanding common shares in the capital of the company. The maximum aggregate number of common shares issuable under the option plan is 5,258,711.

About Western Pacific Trust Co.

Western Pacific is a non-deposit-taking trust company, licensed under the Financial Institutions Act in British Columbia and registered extraprovincially in Alberta as a non-deposit-taking trust company.