Canada Directors Resolution to Transfer Flow-Through Shares

Authorize the transfer of flow-through shares in a Canadian oil and gas company with this template Directors Resolution.

• The company's Board of Directors resolves to transfer flow-through shares from the company's treasury to a shareholder (investor) who has subscribed and paid for the shares.
• The shares in question are called 'flow-through shares' because the company agrees to flow through to the purchasers of these shares certain tax deductions that are generated from the company's capital expenditure programs.