Delbrook Capital Advisors Inc. enters board refreshment agreement with Benchmark Metals Inc.
August 29, 2022
On August 29, 2022, Delbrook Capital Advisors Inc. ("Delbrook") who collectively holds approximately 10.6% of the outstanding common shares of Benchmark Metals Inc. ("Benchmark"), announced that it had entered into a board refreshment agreement with Benchmark.
Delbrook had two of their independent nominees appointed to the 5-person Board (in place of the CFO and another individual who agreed to resign) and related governance enhancements. The other governance changes included having one Delbrook nominee appointed as independent Lead Director of Benchmark’s Board, reconstituting the Audit Committee to include Delbrook's two nominees and having one Delbrook nominee appointed as Chair of that committee. The related governance enhancements also included requiring Benchmark to form an entirely independent 3-person Governance, Nominating and Compensation Committee, also including both of Delbrook's nominees.
Delbrook, based in Vancouver, British Colombia, is an independent investment manager focused on alternative strategies within the metals & mining sector.
Benchmark, based in Edmonton, Alberta, is a mineral exploration company focused on proving and developing the substantial resource potential of the Lawyers Gold and Silver project.
McCarthy Tetrault advised Delbrook with a team led by Jennifer Longhurst that included Michael Shahinian and Leisa Hickey.