Item 5.02 Departure of Directors or Certain
Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 25, 2021, the Board of Directors of
Elvictor Group, Inc., a Nevada corporation (the “Company”), approved and appointed Stavros Galanakis to the position
of Vice President of the Company. On the same date, the Board additionally approved and appointed Aikaterini (“Katerina”)
Bokou to the position of Chief Financial Officer of the Company.
Biographical Information
Stavros Galanakis is the Founder
and Chairman of Elvictor Group, which he founded in 1977. Mr. Galanakis has been a ship owner and ship manager for over 20 vessels,
primarily bulk carriers and chemical tankers. He is widely recognized as a pioneer in the field of crewing, having set up the oldest
crew services company in Greece, and leading the exploration of new markets when it comes to the supply of labor onboard. During
his time with Elvictor Group, he has offered unparalleled solutions to the crewing needs of some of the most reputable ship owners
in Greece and abroad, establishing himself as a highly respectable member in the global shipping value network. For such reasons,
he was given the honor of the title of Consul General of the Republic of Maldives from 1995 through 2017. His main role as Chairman
of Elvictor Group is to safeguard and maintain that all activities of the Group are deployed in purely sustainable, robustly professional,
and strictly ethical norms in relation to client-driven activities, as well as ensuring the well-being and fair treatment of seafarers.
Mr. Galanakis studied at the University of Athens and is married with three sons and currently resides in Athens, Greece.
Aikaterini (“Katerina”) Bokou
has over 12 years of experience as a US listed Group Financial reporting manager in the Shipping and Oil industries. Ms. Bokou
is a CPA with 4 years specialized experience in auditing. Ms. Bokou is skilled at US GAAP formatting, complex consolidations, SEC
filings, investment appraisals, PPA and acquisition accounting, group valuation, financial modelling, forecasting, budgeting, S-Ox
compliance, and Chapter 11 reporting under a restructuring plan. Prior to joining Elvictor Group, Aikaterini Bokou worked as a
Financial Reporting Manager with a NYSE listed petroleum network located in Greece, as well as working in the position of Senior
Auditor with Ernst & Young in Athens, Greece. Ms. Bokou will bring her extensive experience in financial reporting to her position
as Chief Financial Officer of Elvictor Group.
Litigation
During the past ten
years, none of the appointees have been the subject of the following events:
1. A
petition under the Federal bankruptcy laws or any state insolvency law was filed by or against, or a receiver, fiscal agent or
similar officer was appointed by a court for the business or property of such person, or any partnership in which he was a general
partner at or within two years before the time of such filing, or any corporation or business association of which he was an executive
officer at or within two years before the time of such filing;
2. Convicted
in a criminal proceeding or is a named subject of a pending criminal proceeding (excluding traffic violations and other minor offenses);
3. The
subject of any order, judgment, or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction,
permanently or temporarily enjoining him from, or otherwise limiting, the following activities;
i) Acting
as a futures commission merchant, introducing broker, commodity trading advisor, commodity pool operator, floor broker,
leverage transaction merchant, any other person regulated by the Commodity Futures Trading Commission, or an associated person
of any of the foregoing, or as an investment adviser, underwriter, broker or dealer in securities, or as an affiliated person,
director or employee of any investment company, bank, savings and loan association or insurance company, or engaging in or continuing
any conduct or practice in connection with such activity;
ii) Engaging
in any type of business practice; or
iii) Engaging
in any activity in connection with the purchase or sale of any security or commodity or in connection with any violation of Federal
or State securities laws or Federal commodities laws;
4. The
subject of any order, judgment or decree, not subsequently reversed, suspended or vacated, of any Federal or State authority barring,
suspending or otherwise limiting for more than 60 days the right of such person to engage in any activity described in paragraph
3.i in the preceding paragraph or to be associated with persons engaged in any such activity;
5. Was
found by a court of competent jurisdiction in a civil action or by the Commission to have violated any Federal or State securities
law, and the judgment in such civil action or finding by the Commission has not been subsequently reversed, suspended, or vacated;
6. Was
found by a court of competent jurisdiction in a civil action or by the Commodity Futures Trading Commission to have violated any
Federal commodities law, and the judgment in such civil action or finding by the Commodity Futures Trading Commission has not been
subsequently reversed, suspended or vacated;
7. Was
the subject of, or a party to, any Federal or State judicial or administrative order, judgment, decree, or finding, not subsequently
reversed, suspended, or vacated, relating to an alleged violation of:
i) Any
Federal or State securities or commodities law or regulation; or
ii) Any
law or regulation respecting financial institutions or insurance companies including, but not limited to, a temporary or permanent
injunction, order of disgorgement or restitution, civil money penalty or temporary or permanent cease-and-desist order, or removal
or prohibition order, or
iii) Any
law or regulation prohibiting mail or wire fraud or fraud in connection with any business entity; or
8. Was
the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization
(as defined in Section 3(a)(26) of the Exchange Act (15 U.S.C. 78c(a)(26))), any registered entity (as defined in Section 1(a)(29)
of the Commodity Exchange Act (7 U.S.C. 1(a)(29))), or any equivalent exchange, association, entity or organization that has disciplinary
authority over its members or persons associated with a member.
Material Plans, Contracts or Other Arrangements
There are currently no material plans, contracts, or other arrangements
with the new appointees.