{"id":14599,"date":"2022-09-08T10:40:34","date_gmt":"2022-09-08T14:40:34","guid":{"rendered":"https:\/\/mtygroup.com\/?page_id=14599"},"modified":"2026-04-15T17:40:03","modified_gmt":"2026-04-15T21:40:03","slug":"charters-and-position-descriptions","status":"publish","type":"page","link":"https:\/\/mtygroup.com\/en\/charters-and-position-descriptions\/","title":{"rendered":"Charters and Position Descriptions"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"14599\" class=\"elementor elementor-14599\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-db2052d elementor-section-full_width elementor-hidden-tablet elementor-hidden-mobile elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default elementor-invisible\" data-id=\"db2052d\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;animation&quot;:&quot;slideInLeft&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-8460d79 ae-bg-gallery-type-default\" data-id=\"8460d79\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-7c6f5d4 animated-slow elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default elementor-invisible\" data-id=\"7c6f5d4\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-349b798 ae-bg-gallery-type-default\" data-id=\"349b798\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap\">\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-d9c94ed ae-bg-gallery-type-default\" data-id=\"d9c94ed\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-290f1ee elementor-widget elementor-widget-text-editor\" data-id=\"290f1ee\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Investors<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-90818ec elementor-widget elementor-widget-heading\" data-id=\"90818ec\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Charters and  Position<br>Descriptions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-33 elementor-top-column elementor-element elementor-element-896b4a6 ae-bg-gallery-type-default\" data-id=\"896b4a6\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-bc808d7 elementor-widget elementor-widget-text-editor\" data-id=\"bc808d7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>COMPENSATION, NOMINATION AND GOVERNANCE COMMITTEE CHARTER<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3a8ffc6 elementor-widget elementor-widget-text-editor\" data-id=\"3a8ffc6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<span style=\"color: #b2b2b2;\">Click <span style=\"text-decoration: underline;\"><a style=\"color: #b2b2b2; text-decoration: underline;\" href=\"\/wp-content\/uploads\/2025\/03\/Compensation-Nomination-and-Governance-Committee-Mandate-Approved_2025-02-13.pdf\" target=\"_blank\" rel=\"noopener\">here<\/a><\/span> to view.<\/span>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-69fbbfd elementor-widget elementor-widget-text-editor\" data-id=\"69fbbfd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>MANDATE OF THE BOARD OF DIRECTORS<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fad1a1c elementor-widget elementor-widget-text-editor\" data-id=\"fad1a1c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<span style=\"color: #b2b2b2;\">Click <span style=\"text-decoration: underline;\"><a style=\"color: #b2b2b2; text-decoration: underline;\"href=\"#mandate\">here<\/a><\/span> to skip directly to the Mandate of the Board of directors.<\/span>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-b259615 elementor-widget elementor-widget-text-editor\" data-id=\"b259615\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Audit Committee Charter<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-89ae5c7 elementor-widget elementor-widget-text-editor\" data-id=\"89ae5c7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span style=\"color: #b2b2b2;\">Click <span style=\"text-decoration: underline;\"><a style=\"color: #b2b2b2; text-decoration: underline;\" href=\"#audit\">here<\/a><\/span> to skip directly to the Audit Committee Charter.<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-0d19dee animated-slow elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default elementor-invisible\" data-id=\"0d19dee\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;,&quot;animation_delay&quot;:1.3}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-fc9ffd7 ae-bg-gallery-type-default\" data-id=\"fc9ffd7\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a30ec0a elementor-widget-mobile__width-auto elementor-widget elementor-widget-heading\" data-id=\"a30ec0a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">01<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fddd2b4 elementor-widget-mobile__width-auto elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet elementor-widget elementor-widget-heading\" data-id=\"fddd2b4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Description of the Chairman of the Board of Directors<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-0e9beea ae-bg-gallery-type-default\" data-id=\"0e9beea\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-1141c3c elementor-hidden-mobile elementor-widget elementor-widget-heading\" data-id=\"1141c3c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Description of the Chairman of the Board of Directors<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-153fac1 elementor-widget elementor-widget-text-editor\" data-id=\"153fac1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Chairman of the board of directors of the Corporation (the \u201cBoard of Directors\u201d) has the responsibility for:<\/p><ol><li>Providing leadership to the Board of Directors.<\/li><li>Overseeing its effectiveness and ensuring that it meets its obligations and responsibilities.<\/li><li>Monitoring and coordinating the functions of the Board of Directors with management of the Corporation.<\/li><li>Chairing all Board of Directors\u2019 and shareholders\u2019 meetings.<\/li><li>Ensuring that adequate advance information is distributed to the directors and that the Board of Directors receives regular updates on all issues important to the affairs of the Corporation.<\/li><li>Meeting with members of the Board of Directors and each Board of Directors\u2019 committee to ensure full utilization of individual capacities and the optimum performance of the Board of Directors and each of its committees.<\/li><li>Reviewing progress made by management of the Corporation in executing the Board of Directors\u2019 decisions and plans in the conformity with the Corporation\u2019s policies.<\/li><li>Being available to provide counsel to management of the Corporation on major policy issues such as acquisitions, divestitures and financial structure.<\/li><li>Participating in external activities involving the representation of the Corporation to its major stakeholders, including its shareholders, the financial community, governments and the public.<\/li><li>At the request of the Board of Directors, undertaking specific assignments for the Board of Directors.<\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-7a4cb70 animated-slow elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default elementor-invisible\" data-id=\"7a4cb70\" data-element_type=\"section\" data-e-type=\"section\" id=\"mandate\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;,&quot;animation_delay&quot;:1.3}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-bfdb729 ae-bg-gallery-type-default\" data-id=\"bfdb729\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d3f32a2 elementor-widget-mobile__width-auto elementor-widget elementor-widget-heading\" data-id=\"d3f32a2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">02<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9d74f7e elementor-widget-mobile__width-auto elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet elementor-widget elementor-widget-heading\" data-id=\"9d74f7e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Mandate of the Board of Directors<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-2a761ac ae-bg-gallery-type-default\" data-id=\"2a761ac\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-d5c2e4c elementor-hidden-mobile elementor-widget elementor-widget-heading\" data-id=\"d5c2e4c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Mandate of the Board of Directors<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b3717a elementor-widget elementor-widget-text-editor\" data-id=\"2b3717a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The following is the mandate of the Board of Directors of the Company (the \u201cBoard\u201d):<\/p><ul><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Advocate and support the best interests of the Company;<\/li><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Review and approve strategic, business and capital plans for the Company;<\/li><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Ensure that specific and relevant corporate measurements are developed and adequate controls and information systems are in place with regard to business performance;<\/li><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Review the principal risks of the Company\u2019s business and pursue the implementation of appropriate systems to manage such risks;<\/li><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Monitor progress and efficiency of strategic, business, and capital plans and require appropriate action to be taken when performance falls short of goals;<\/li><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Establish and monitor the Ethics Policy for directors, senior officers, and employees (contained in the Company\u2019s Handbook) to address, among other matters, conflicts of interest, protection and proper use of corporate assets and opportunities, fair dealing with third parties, compliance with laws, rules and regulations, and reporting of any illegal or unethical behaviour;<\/li><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Review measures implemented and maintained by the Company to ensure compliance with statutory and regulatory requirements;<\/li><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Review and monitor the effectiveness of the Audit Committee, and the Audit Committee Charter, on at least an annual basis;<\/li><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Select, evaluate, and compensate the senior management based on their performance under the Company\u2019s strategic, business and capital plans;<\/li><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Monitor the practices of management to ensure appropriate and timely communication of material information concerning the Company to its shareholders, including the establishment and monitoring of the Company\u2019s Public Disclosure Policy;<\/li><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Monitor overall health, safety and environmental policies and programs;<\/li><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Monitor the development and implementation of programs for management succession and development; and<\/li><li class=\"wow fadeInUp\" data-wow-duration=\"1s\" data-wow-delay=\"0.75s\">Discharge such other duties as may be required for the good stewardship of the Company.<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-ba2277c animated-slow elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default elementor-invisible\" data-id=\"ba2277c\" data-element_type=\"section\" data-e-type=\"section\" id=\"audit\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;,&quot;animation_delay&quot;:1.3}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-3df67fe ae-bg-gallery-type-default\" data-id=\"3df67fe\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-3f0fff7 elementor-widget-mobile__width-auto elementor-widget elementor-widget-heading\" data-id=\"3f0fff7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">03<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-10f6202 elementor-widget-mobile__width-auto elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet elementor-widget elementor-widget-heading\" data-id=\"10f6202\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Audit Committee Charter<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-6ad4f28 ae-bg-gallery-type-default\" data-id=\"6ad4f28\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-c7af837 elementor-hidden-mobile elementor-widget elementor-widget-heading\" data-id=\"c7af837\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Audit Committee Charter<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ff93dea elementor-widget elementor-widget-text-editor\" data-id=\"ff93dea\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h6><strong>Purpose<\/strong><\/h6>\nThis charter governs the operations of the Audit Committee (the \u201cCommittee\u201d). The Audit Committee shall be constituted in accordance with National Instrument 52-110 \u2013 Audit Committees. The purpose of the Committee is to assist the Board of Directors (the \u201cBoard\u201d) in its oversight of the integrity of the Company\u2019s financial statements and other relevant public disclosures, the effectiveness of the Company\u2019s internal controls over financial reporting, the Company\u2019s compliance with legal and regulatory requirements relating to financial reporting and the external auditors\u2019 qualifications, independence and appointment. The Committee approves and recommends to the Board, all matters falling within its purview, in accordance with its mandate, applicable laws, rules and regulations, the Company\u2019s by-laws and internal policies.\n<h6><a name=\"_Toc31964718\"><\/a><a name=\"_Toc63111135\"><\/a><strong>Composition<\/strong><\/h6>\nFollowing each annual meeting of shareholders, the Board shall elect a minimum of three directors (the \u201cMembers\u201d), to serve on the Committee until the close of the next annual meeting of the shareholders or until the member ceases to be a director, resigns or is replaced, whichever first occurs. Any member may be removed from office or replaced at any time by the Board. One of the members shall be appointed by the Board as Chairperson of the Committee (the \u201cChair\u201d). Each Member shall be independent, as determined by Canadian securities legislation requirements, and free from any relationship that, in the opinion of the Board, could interfere with the exercise of his\/her independent judgment or their ability to represent their own professional view as a Member of the Committee. Each Member shall be financially literate. Financial literacy requires that all Members have sufficient accounting or related financial management expertise to read and understand a set of financial statements, including the related notes, that present a breadth and level of complexity of accounting issues that are generally comparable to the breadth and complexity of the issues that can reasonably be expected to be raised by the Company\u2019s financial statements.\n<h6><a name=\"_Toc31964719\"><\/a><a name=\"_Toc63111136\"><\/a><strong>Meetings<\/strong><\/h6>\n<ol>\n \t<li>The Committee shall meet no less than four times during each financial year. The Committee shall meet on a regular basis without management or the external auditors and shall meet individually and separately with management and external auditors at least quarterly. The Committee or Chair shall meet separately with the internal auditors at least quarterly.<\/li>\n \t<li>A majority of the Members of the Audit Committee shall form a quorum for any duly-called meeting. Questions arising at any meeting of the Audit Committee shall be decided by a majority of votes present at the meeting.<\/li>\n \t<li>The Chair shall develop the agenda for each meeting of the Committee in consultation with management of the Company. The agenda and the appropriate material shall be provided to the Members on a timely basis prior to any meeting. Members shall attend meetings and review related meeting materials in advance. The Committee may invite such other persons to its meetings, as it deems necessary.<\/li>\n \t<li>Minutes of meetings shall be recorded and maintained by the Corporate Secretary or his\/her designate and shall be subsequently presented to the Committee for approval.<\/li>\n \t<li>The Chair shall report regularly to the Board on the business of the Committee.<\/li>\n<\/ol>\n<h6><\/h6>\n<h6><a name=\"_Toc31964720\"><\/a><a name=\"_Toc63111137\"><\/a><strong>Responsibilities<\/strong><\/h6>\n<h6><strong><a name=\"_Toc31964721\"><\/a><a name=\"_Toc63111138\"><\/a><u>Financial Reporting and Disclosures<\/u><\/strong><\/h6>\n<ol>\n \t<li>Reviewing with management and the external auditors the quarterly and annual financial statements and accompanying notes, and the external auditors\u2019 report thereon, and the financial information and forward-looking information contained in the Management\u2019s Discussion and Analysis, Press Releases, AIF, Management Proxy Circular, prospectuses and any other\ndocuments containing financial information or forward-looking information before their public disclosure or filing with regulatory authorities.<\/li>\n \t<li>Reviewing with management and the external auditors the major issues regarding accounting principles and financial statement presentation, including any significant changes in the Company\u2019s selection or application of accounting principles, and major issues regarding the adequacy and effectiveness of the internal controls and the quality and acceptability of the Company\u2019s accounting policies and any changes that are proposed to be made thereto, including all critical accounting policies and practices used, any alternative treatments of financial information that have been discussed with management, the ramification of their use and the external auditors\u2019 preferred treatment.<\/li>\n \t<li>Discussing with management and the external auditors regarding significant estimates and judgments made in connection with the preparation of the financial statements and the reasonableness of those estimates and judgments, including the appropriateness of non-GAAP information and measures used within Management\u2019s Discussion and Analysis, Press Releases, AIF and Management Proxy Circular.<\/li>\n \t<li>Discussing with management and considering the effect of regulatory and accounting initiatives, as well as off-balance sheet structures, on the financial statements.<\/li>\n \t<li>Reviewing the completeness and clarity of the disclosures in the financial statements.<\/li>\n \t<li>Reviewing and approving all related-party transactions that could potentially require disclosure and discuss with management the business rationale for the transaction and whether appropriate disclosures have been made. Any member of the Committee who is a party to or has a potential conflict of interest in a proposed transaction, or who has a material interest in any related party transaction or is a party to a related party transaction, must abstain from any vote on that transaction.<\/li>\n<\/ol>\n<h6><a name=\"_Toc31964722\"><\/a><a name=\"_Toc63111139\"><\/a><strong><u>Risk Management and Internal Controls<\/u><\/strong><\/h6>\n<ol>\n \t<li>Discussing with management its process for assessing the effectiveness of internal control over financial reporting.<\/li>\n \t<li>Discussing with the chief executive officer and the chief financial officer the process for the Form 52-109 certifications to be provided in the Company\u2019s filings with regulatory authorities.<\/li>\n \t<li>Reviewing reports from management and the external auditors on management\u2019s assessment of the effectiveness of internal controls over financial reporting.<\/li>\n \t<li>Discussing with management and the external auditors all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company\u2019s ability to record, process, summarize and report financial data, and management\u2019s remediation plan to address internal control deficiencies.<\/li>\n \t<li>Discussing with management and the external auditors any changes in internal control over financial reporting that have materially affected or are reasonably likely to materially affect the Company\u2019s internal control over financial reporting that are required to be disclosed or any other change that were considered for disclosure.<\/li>\n \t<li>Reviewing and discussing any fraud or alleged fraud involving management or other employees and the related corrective and disciplinary actions to be taken.<\/li>\n \t<li>Reviewing on a regular basis and monitoring the Company\u2019s risk assessment and management policies, including the Company\u2019s major financial accounting and risk exposures and the procedures in place to monitor, control, report and mitigate those risks.<\/li>\n<\/ol>\n<h6><a name=\"_Toc31964723\"><\/a><a name=\"_Toc63111140\"><\/a><strong><u>External Auditors<\/u><\/strong><\/h6>\n<ol>\n \t<li>Evaluating the performance of the external auditors and making recommendations to the Board on the nomination for reappointment or appointment of the external auditors. Such nomination is to be\napproved by the Board. The external auditors will be reappointed or appointed each year by the shareholders of the Company at the annual general meeting of the shareholders.<\/li>\n \t<li>Reviewing the terms of the external auditors\u2019 engagement and the appropriateness and reasonableness of the proposed audit fees and make the appropriate recommendations to the Board. The remuneration of the external auditors will be determined by the Board, upon the annual authorization of the shareholders at each general meeting of the shareholders.<\/li>\n \t<li>Overseeing the work of the external auditors and monitoring their qualifications, performance and independence.<\/li>\n \t<li>Reviewing the external auditors\u2019 report including the firm\u2019s internal quality control procedures, any material issues raised by the internal quality review or peer review of the firm or by any inquiry or investigation conducted by governmental or professional authorities within the five preceding years, and all relationships between the external auditors and the Company to assess the external auditors independence.<\/li>\n \t<li>Pre-approving the basis and amount of all non-audit services provided by the external auditors, including determining and discussing with management the non-audit services that should not be provided by the external auditors.<\/li>\n \t<li>Reviewing the audit plan and, if applicable, the quarterly financial statements review plan with the external auditors and management and approving the scope, extent and schedule of such plans.<\/li>\n \t<li>Reviewing the Company\u2019s hiring policies for employees or former employees of the external auditors.<\/li>\n \t<li>Ensuring the respect of legal requirements regarding the rotation of applicable partners of the external auditors, on a regular basis, as required.<\/li>\n \t<li>Ensuring that the external auditors report directly to the Committee, that the external auditors are able to complete their audit procedures and reviews with professional independence, free from any undue interference from the Company\u2019s management or Board and that management fully cooperates with the external auditors in the course of carrying out their professional duties.<\/li>\n \t<li>Reviewing with the external auditors any audit problems or difficulties and management\u2019s response thereto and resolving any disagreement between management and the external auditors regarding financial reporting.<\/li>\n<\/ol>\n<h6><a name=\"_Toc319647231\"><\/a><strong><a name=\"_Toc631111401\"><\/a><u>Internal Auditors<\/u><\/strong><\/h6>\n<ol>\n \t<li>Reviewing the appointment and mandate of the internal auditor, including its responsibilities, budget and staffing.<\/li>\n<li>Reviewing the scope and performance of the internal auditor, including a review of the annual internal audit plan, and whether there are any restrictions or limitations on the internal auditor.<\/li>\n<li>Reviewing, on a regular basis, periodic reports from the internal auditor regarding internal audit findings, including with respect to the Company\u2019s internal controls and the Company\u2019s progress in remedying any material control deficiencies.<\/li>\n<\/ol>\n<h6><a name=\"_Toc31964724\"><\/a><a name=\"_Toc63111141\"><\/a><strong><u>Other<\/u><\/strong><\/h6>\n<ol>\n \t<li>Reviewing such litigations, claims, transactions or other contingencies as the external auditors or any officer of the Company may bring to the attention of the Committee.<\/li>\n<li>The Committee shall consider all other matters of a financial nature further delegated by the Board.<\/li>\n<li>Reviewing the Committee\u2019s mandate at least annually and recommend any changes to the Board for approval.<\/li>\n<li>Evaluating the performance of the Committee in reference to this charter annually.<\/li>\n<li>Adhering to the Company\u2019s code of conduct and disclosing all conflicts of interest or appearance of a conflict of interest to the Board.<\/li>\n<li>Establishing procedures for the receipt, retention and treatment of complaints or concerns received by the Company regarding accounting or auditing matters, including the anonymous submission by employees of concerns respecting accounting or auditing matters.<\/li>\n<li>The Committee shall ensure that this charter (or an approved summary thereof) is disseminated in accordance with Applicable Requirements.<\/li>\n<\/ol>\n<h6><a name=\"_Toc31964725\"><\/a><a name=\"_Toc63111142\"><\/a><strong><u>Authorities<\/u><\/strong><\/h6>\n<ol>\n \t<li>The Committee shall have a direct line of communication with the internal and external auditors.<\/li>\n<li>The Committee shall have full, free and unrestricted access to management and employees and to the relevant books and records of the Company and shall be empowered to investigate any matter brought to its attention.<\/li>\n<li>The Committee shall have the authority to retain independent legal, accounting or other relevant advisors as it may deem necessary or appropriate to carry out its duties.<\/li>\n<\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section data-particle_enable=\"false\" data-particle-mobile-disabled=\"false\" class=\"has_ae_slider elementor-section elementor-top-section elementor-element elementor-element-22634d1 animated-slow elementor-section-boxed elementor-section-height-default elementor-section-height-default ae-bg-gallery-type-default elementor-invisible\" data-id=\"22634d1\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;animation&quot;:&quot;fadeInUp&quot;,&quot;animation_delay&quot;:1.3}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-94af80e ae-bg-gallery-type-default\" data-id=\"94af80e\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-498309f elementor-widget-mobile__width-auto elementor-widget elementor-widget-heading\" data-id=\"498309f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">04<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-772d4f5 elementor-widget-mobile__width-auto elementor-hidden-desktop elementor-hidden-laptop elementor-hidden-tablet elementor-widget elementor-widget-heading\" data-id=\"772d4f5\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Lead Independent Director<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"has_ae_slider elementor-column elementor-col-50 elementor-top-column elementor-element elementor-element-f3d3bf9 ae-bg-gallery-type-default\" data-id=\"f3d3bf9\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-cd82689 elementor-hidden-mobile elementor-widget elementor-widget-heading\" data-id=\"cd82689\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Lead Independent Director<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-fcf63d8 elementor-widget elementor-widget-text-editor\" data-id=\"fcf63d8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<h6><strong>Position Description<\/strong><\/h6>\n<ul>\n \t<li>Presiding at Board meetings at which the Chairman is not present; including sessions of only independent directors and in camera meetings following Board meetings;<\/li>\n \t<li>serving as a liaison between the Chairman, the CEO and the independent directors;<\/li>\n \t<li>managing actual or potential conflicts of interest;<\/li>\n \t<li>previewing information provided to the Board and approving meeting agendas;<\/li>\n \t<li>calling meetings of independent directors when appropriate or required;<\/li>\n \t<li>being available to represent the Board in communications with shareholders and other stakeholders where necessary or appropriate; and<\/li>\n \t<li>carrying out such other duties as are requested by the Board or any of its committees from time to time.<\/li>\n<\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Investors Charters and PositionDescriptions COMPENSATION, NOMINATION AND GOVERNANCE COMMITTEE CHARTER Click here to view. MANDATE OF THE BOARD OF DIRECTORS Click here to skip directly to the Mandate of the Board of directors. Audit Committee Charter Click here to skip directly to the Audit Committee Charter. 01 Description of the Chairman of the Board of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-14599","page","type-page","status-publish","hentry"],"acf":[],"_links":{"self":[{"href":"https:\/\/mtygroup.com\/en\/wp-json\/wp\/v2\/pages\/14599","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mtygroup.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/mtygroup.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/mtygroup.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mtygroup.com\/en\/wp-json\/wp\/v2\/comments?post=14599"}],"version-history":[{"count":0,"href":"https:\/\/mtygroup.com\/en\/wp-json\/wp\/v2\/pages\/14599\/revisions"}],"wp:attachment":[{"href":"https:\/\/mtygroup.com\/en\/wp-json\/wp\/v2\/media?parent=14599"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}