Signant Two Holdings Ltd.

Agenda: Annual General Meeting II

March 23, 2025 via Google meeting

7:00 – 8:30 MST

Google Meet joining info

Video call link: https://meet.google.com/erw-jvzv-ebv

Or dial: ‪(CA) +1 226-214-6006‬ PIN: ‪786 389 740‬#

More phone numbers: https://tel.meet/erw-jvzv-ebv?pin=1526712014509

Attendees:

1. Meeting called to order

Proxies in effect, when needed, until further notice:

For Carson: Cody, or in his absence, Melanie (Nov 12, 2015)

For Brenna: Cody, or in his absence, Melanie (Nov 03, 2015)

For Cody: Melanie, or in her absence, Carson (April 15, 2021)

For Sheila: Joel, or in his absence, Stephen (June 09, 2022)

For Duane: Dane (sent by email Feb 24, 2024 in email thread, “2024 Signant Two AGM”)

Motion to approve the agenda

Length of Meeting – 1.5 hours (until 8:30 pm); Identify timekeeper.

Role of younger generation(s) and spouses present at this meeting. Your ideas and perspectives add a significant point of view to our discussions and are greatly appreciated; reminder that the presentation of motions, seconding of motions, and voting on motions is limited to Shareholders.

Welcome to Dane, our newest shareholder!

2. Approval of Minutes from 2024 AGM
   Signant Two 2024 AGM Agenda (November 2, 2024) minutes Final.docx

3. 2025 Property Assessment Notices (Cody; FYI)

2025 Property Assessment Notice – Dock.pdf
2025 Property Assessment Notice – Cabin.pdf

4. Firesmarting (Cody; Reminder) 

1. Reminder of 2025 firesmarting levy of $10 per month per share for 10 months from January to October, payment due on the 15 of the month starting in January 2025.

5. Update on Insurance, Accounting and Reporting to CRA (Cody; Update. Sheila; Discussion)

1. Cabin Insurance (Intact Insurance, Update and discussion)

19458 5n1222mzr rwl 20250502 20250311 00001 ins.pdf, Invoice_44945.pdf, TOUSS1 PW Summary Review & SIGN.pdf, WGIS Cyber Ins & Signs of Scamming.pdf, WGIS Water Damage.pdf

Update:  The annual premium for our insurance on the cabin has gone up 7%, from $ 1621/yr last year to $ 1974/yr for this year (May 2, 2025 to May 2,  2026). (Intact Policy #5N1222MZR) The increase of  $353 is an increase of 21%. Our broker, Shaunda Howerton, explains the increase as follows: House limits have been increased by 7% for inflation protection. The average house policy is coming in 16 to 25% higher due to catastrophic losses in 2024. (mostly due to wildfires) 

All five Intact Insurance documents forwarded in this March 20/25 email from Shaunda Howerton, of Western General Insurance, our Insurance Broker are embedded above, in case anyone wishes to read the details of the policy. If the group is agreeable, Sheila will confirm renewal of this cabin insurance before the end of April and send the Invoice #44945 to Jen for payment. If someone prefers to seek out another property insurance option, they are welcome to do so, but our present insurance will expire on May 2, 2025.

1. Cody has reached out to Fay Chrisohou, who has agreed to prepare Signant Two 2024 tax return. Cody to follow up on what is required regarding bare trust reporting.

1. Discussion and acceptance of Sheila’s draft document:

i)Capital Gains Tax Information for Transfers of Shares in Signant Two Holdings Ltd — Important History (3).docx Screen Shot 2025-03-20 at 11.13.20 AM.png

Note: Sheila emailed Vic March 17/25  asking if he had any further thoughts regarding

this document (additions or modifications) and asked that he let her know prior

to the meeting March 23.

Note:  The discussion of this document is twofold:

1. Is the history complete in the view of other shareholders? (Kindly review prior to       the meeting.) NB This document is intended to present our common understanding of the history of the purchase and sale of shares in Signant Two (from its inception in 1994) whenever anyone needs to address the Capital Gains Tax owed to CRA regarding the sale or transfer of shares.
2. Document ii) (immediately following) presents a particular question regarding this history that needs to be addressed. Therefore, Documents i) and ii) are interconnected for discussion of this question.). 

1. ii)   Email from Fay Chrisohou Feb 27, 2024, “Re- Signant Two Financials”.docx

This document presents a question in regard to the calculation of Capital Gains Tax when shares are sold or transferred: Whether the initial 1994 value of Signant Two shares should be $150K (the 1994 assessed value) or $30K (the actual amount of money that changed hands via a promissory note written to Alph and Eileen, and paid monthly afterwards, for that amount of $30K)? 

Note: Sheila emailed Vic March 17/25 asking if he would be able to reach out to Fay

Chrisohou prior to Part II of the AGM to get clarification on this question of the initial 1994 value of shares. Vic responded, March 21/25, saying, “I can certainly communicate with Fay once you receive shareholder approval to seek clarification regarding the cost base of shares.” (Vic)

Discussion and decision needed to pursue clarification regarding initial cost/value of Signant Two Shares. 

iii)   Capital Gains Tax Questions to Fay Chrisohou by Vic and Sheila 2024.docx

This document is included as background information, only. No discussion needed.

6. Trundle Bed Proposal for Third Bedroom (Ron; Discussion and Decision. Cody; Discussion and Decision)

Trundle Bed Proposal for Third Bedroom.pdf

Prior to the meeting, shareholders are asked to review the two options presented in this proposal, and Ron’s recommendation in view of his comparison of the pros and cons of each. Decision required.

Reminder that Vic prepaid $1000 so that Ron could be reimbursed the cost of the trundle beds. In Vic’s view, since Dane is stepping into his shoes, Dane should inherit that pre-payment. If, on the other hand, the shareholders wish to repay to Vic that amount, he would be fine with that as well. Sheila proposes that we consider the repayment of this prepayment in the fall, after we have accumulated the bulk of User Fees for the season. Decision needed.

7. Siding for West Exterior Wall of Cabin (Ron; Discussion and Decision)

West Wall Siding proposal.pdf

Ron has done further research and now recommends pine log siding so that that wall matches the other exterior walls.

8. Professional Pruning of Deadwood in 3 Ponderosas by Lake and Trees Along the West Boundary (Sheila; Update)

Last year’s quotes (2024):

• Limb Master Tree Service ($2310 – 2024 quote). This is a professional company.
• Mitch ($1800 – 2024 quote) (Mitch is a friend of an acquaintance of Carson’s) This is a person who does this work, but does not have a company.

Note: Likely both quotes will be higher this year.  

Note: It was the opinion of Limb Master rep, Scott, that all three ponderosas are in very good health and that they act as “a unit” due to their close proximity, so removal of the centre ponderosa would not make that much of a difference. However, there is a lot of deadwood in all three ponderosas and this should be removed.

9. Sheila and Ron’s Workbee April 25 to May 8 (Sheila; Update)

The final Steps of the 2024 Cladding and Shed Projects to be Completed in 2025 by Ron and Sheila are as follows:

1. Second finishing coat of stain on cedar siding, second coat of paint on trim, caulking between trim and cedar siding, caulking under frame of shed and between 2″ X 6″  base and patio pavers underneath. Also weather stripping with a metal edge will be installed on the main entrance door, seals will be installed under both boathouse garage doors, and brush seals will be installed in the metal roll-up doors. (Note: all these products yet to be installed were purchased in 2024; therefore, there will be no additional costs for their installations. We also have all the stain and paint required for the finishing coats.)

1. We have not looked further into the Product to apply to cedar siding in order to make it somewhat fire resistant ($1344 – 2024 quote). We will not have time to pursue this item.

1. Metal flashing (at least 6” high) around perimeter of base of cabin ($364.50 – 2024 quote). We will purchase and install this if we have time during our workbee.

1. Paving stone proposal #1 (Sheila; Discussion and Decision)

Proposal from Ron that he install further paving stones to completely fill in the narrow gap between boathouse and Storage #1. The goal is to increase safety and facilitate the removal of pine needles that collect in rocks next to the boathouse. Six to eight paving stones would be required, costing approximately $130 plus taxes (GST and PST), or cheaper on Kijiji. If approved, we are not sure if we will have time to tackle this project, but will keep an eye out for second-hand pavers on Kijiji during our stay at the lake. If the pavers were purchased, other family members could possibly install the pavers.

1. Paving stone proposal #2:   (Sheila; Discussion and Decision) 

Ron also proposes to extend patio to area in front of lower storage areas (under the deck), using 3 -5 rows of patio pavers parallel to the storage area. Installing patio pavers in this area would mean we would not have to install the metal flashing for FireSmarting on that entire South wall of the cabin. It would also extend the patio area for family to enjoy. What does the group think of this idea? We could keep an eye out for second-hand pavers on Kijiji during our stay at the lake. If the pavers were purchased, other family members could possibly install the pavers.

10. Mission Statement (Sheila; Discussion)

I want to propose that this year, family members begin thinking of how we might articulate a Mission Statement for our Corporation; that is, a statement about what our goal is. I would just like to introduce this idea so that we might have a clearer common understanding moving forward. This would be something we can consider when we are making decisions regarding management of the cabin.

11. Gift cards for Sam and Rick for 2024 Off-season Cabin Monitoring (Cody; Update)

Melanie has provided a gift card for $300 to Sam and Rick Sanderson. 

12. 2025 Bugmaster Applications (Update)

Melanie T. has prepaid for this year’s application in order to lock in last year’s rates.

13. Canoe Proposal (Sheila; Discussion and Decision)

Sheila proposes she and Ron bring a canoe, paddles and 2  PFDs to cabin which would be intended for everyone’s use and stored against West wall in Storage #2.

14. Upcoming Updates to website (Sheila; FYI)

Workbee photos (cedar removal, construction of new storage areas, cedar siding installation on lower level, construction of shed, transfer of cedar logs and firewood to shed), propane tank reading, missing meeting minutes, log splitter log of hours of use

15. Firewood (Sheila; FYI)

Both Melanie T and her neighbour, Sue, generously donated firewood to the cabin from trees that were cut down in their yards.

16. Cleaning Schedule Revision (Sheila; Discussion and Decision)

Sheila recommends that the task of washing blankets and comforters have the additional task of washing all mattress covers.

17. Taps in Main Bathroom and Half Bath (Sheila; FYI)

These taps are still not functioning optimally. (Extra turning of hot water tap is required in main bathroom and “roaring” continues occasionally in both bathrooms.)  Ron offers to look at this in spring.

18. Cabin Maintenance Process (Sheila; Discussion and decision)

Sheila wishes to recommend certain “understandings” that we might all agree to regarding certain practices we wish to uphold in our joint endeavour of caring for the cabin. For example, procedures and protocols when something needs repair, how certain items are to be stored, and protocols for communication among members.

19. Fence installation (Sheila; Discussion and Decision)

Our neighbours, Mike and Camille Zwardon, have proposed that we share the cost of installing a fence between our properties. Presently, the cost is unknown. Mike Z will communicate with Sheila.

20. Second Hand Patio Set and Vertical Space Heater (Sheila; Discussion and Decision)

Sheila grabbed these as freebies from neighbours moving out. The patio set includes cushioned chairs, a chaise-lounge, and a round glass table. Sheila proposes that they will be a great replacement for the picnic tables. In the off-season they can be stored in Storage Area #1. Some less desirable plastic patio chairs can be culled unless families wish to keep them all. Discussion.

21. Yearly Air Quality Assessment – evaluating whether our current measures are adequate for achieving an air quality that is healthy and safe for all. (Sheila; Discussion and Decision)

We have committed to doing this assessment yearly. 

We have not undertaken a formal analysis of the Air Quality Monitor Readings. It is uncertain whether we have enough data to actually draw comparisons or draw conclusions. Plus the air quality during the last two summers was likely affected, especially on some days, by the presence of smoke in the air due to the wildfires.

Sheila has reached out to Melanie and Jen to inquire regarding their air quality experience at the cabin in 2024.

22. Reminders to Family Regarding Stays at the Cabin (Sheila)

1. Email Communication with Other Shareholders regarding alerts or important new information (Sheila to make note for website record and for future meeting, as needed)
2. Air Quality Monitor Readings (Sheila to transfer to website)
3. Propane Tank Gauge Photo (Sheila to transfer to website)
4. Ongoing FireSmarting Practices – Importance of removal of needles from eavestroughs and roofs, removal of vegetation growth within 3 metres of cabin, and removal of needles and cones in backyard, the driveway down to the beach, beach area, and the wild area to the East of the cabin.
5. Firewood is not to be stored under the cabin or next to the cabin or on the deck, but rather, in the metal shed. (Note:  The “sawzall” in the boathouse is great for sawing large branches/trunks to an appropriate length.)
6. Barbecue – what are the family’s thoughts on storing it in the boathouse except when in use or when cooling, after being used?
7. Summer Slot Cleaning Duties

23. Directors Resolutions

1. 2024 Resolutions – All in one Document.pdf
   Sheila proposes:  Commitment to signing and submitting to Jen by April 15, 2025.

24. Next meeting

       Is there a need for a meeting prior to the summer? 

25. Closing of the Meeting (Cody)