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Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
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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.
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.