Signant Two Holdings Ltd.

Minutes of the Annual General Meeting

November 13, 2011, 12 :15

at Duane’s

Shareholders Present

Sharyn, Vic, Duane, Dale, Sheila and Rhonda

Meeting called to order at 12 :40PM.

Minutes of October 9, 2010 meeting (AGM) modified as follows : Item 3a now reads, : “Sale of cabin – (Sharyn) – Sheila asked whether a simple majority is required for the sale of the cabin. Vic answered affirmatively, as far as he knows.” Revised minutes accepted. (Moved by Sharyn ; seconded by Rhonda. Carried)

Minutes of January 15, 2011 Special Meeting accepted as presented. (Moved by Sharyn ; seconded by Dale. Carried)

Matters arising from Previous Meeting

User Fees (Sharyn)

Motion #1 : As of 2012, we will dispense with all User Fees for Shareholders’ use of cabin. Moved by Sharyn ; seconded by Sheila. 5 in favor ; 1 opposed. Motion carried.

Dogs in the cabin (Sharyn)

Sharyn asked that Shareholders show the kindness of following the rule about not having dogs in the house given the serious health issues (asthma) of some of her family members. A point was made that it is not fair if one Shareholder chooses not to follow this rule while another follows the rule and lives with the resulting inconvenience.

Timeframe for listing the cabin for sale (Vic)

Timeframe decided upon : April 1 to December 31, 2014

Appraisals

Dale will get appraisals from 3 realtors for our next AGM (November 2012)

De-cluttering Cabin

Motion #2 : During the 2012 summer, in the interest of de-cluttering the cabin, Shareholders would remove decorative or sentimental personal items that they have contributed and that larger items would be returned to the person who donated them, at a later date. Moved by Sheila ; seconded by Sharyn. Motion carried unanimously.

It was noted that the plan would be to address a second culling the following year ; that is, in Summer 2013.

Sheila suggested that family members could make a list of items they have removed and share this list with the other Shareholders.

Cabin use during the summer the cabin is listed for sale (Vic) — Vic suggested that it might be advisable not to use the cabin during the summer of 2014 when it is listed and being shown to prospective buyers. There were differing views expressed and no decision made.

Items 1C, 1D & 1G from our last meeting

see January 15, 2011 minutes

1C, regarding « the option of Signant Two selling the cabin to someone outside the family, » no longer needs to be addressed.

1D regarding « the option of individual Shareholders selling their shares to other Shareholders and the option of all Shareholders selling to one Shareholder » does not need to be addressed.

1G regarding the « Clarification of the term ‘assessed value’ with regards to the cabin in Item 13, ‘Purchase Price,’ in the USA. » For now, Dale will seek out appraisals from 3 realtors for the November 2012 AGM.

Out of summer bookings

Motion #3 : Beginning January 1, 2012, we use our priority booking order to make out of summer bookings, reserving the 2012 Easter weekend as a workbee weekend. Moved by Sheila ; seconded by Rhonda. Motion carried unanimously.

2012 Booking Order

Dale, Rhonda, Sharyn, Duane, Sheila, Vic.

Short-term bookings

When booking 2 weeks prior to a given date or block of time out of summer, all agreed that the priority order is NOT needed. It will be first come, first served.

Renovation priorities

Spiral Staircase – Dale suggested a workparty at Easter of 2012. Suggestion made to invite Mike Almond to attend since he has an idea regarding replacing the staircase.

Septic Tank – Septic tank needs to be pumped and we need to have the septic system approved/inspected by the Regional District with regards to the new water system. Dale will see to this.

Dock Repairs – all agreed that future repairs of the dock deck will be made with 2 by 4’s.

Directors Resolutions

Documents signed. Dale, President ; Sheila, Secretary.

Year end review

Bathroom Repair – everyone is so pleased. It is spectacular !

Firewood Hauling – thanks to Dale, Duane and Sheila

Year-end documents

Thank you to Jennifer from all the Shareholders for preparing these, as always. Much appreciated.

Financial statements

Reviewed. No questions.

Fintry synopsis

Summary of upcoming actions :

Spiral staircase Easter 2012

Septic Tank – to be pumped and appraised (Dale)

Quotes from 3 realtors for 2012 AGM (Dale)

Priority Booking Order used for out-of-summer bookings, except for bookings made on short notice, i.e. 2 weeks or less prior to the booking date.

Summer 2012 – initial culling of personal or sentimental items (excluding large items such as the hide-a-bed which will continue to be needed)

Status of Shareholders

All Shareholders are in good standing regarding their Annual Assessments.

2011 Summer User Fees have been paid by Vic and Sheila and are outstanding for Sharyn, Rhonda and Duane.

Summer 2012 Rotation

In accordance with our deadlines for summer bookings, some family blocks have booked already and others will be booking in the upcoming weeks.

Next Meeting (AGM)

Set for November 11, 2012. Sharyn will be hosting.

Adjournment at 2:24PM.

Moved by Sharyn. Vic had to leave the meeting at 2 :05PM.

Minutes respectfully submitted by Sheila, April 24, 2012