Board Change • Jun 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Tony Clements was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Jun 10
Vatic Ventures Corp. Announces Appointment of Christoph Bruening as Director Vatic Ventures Corp. had appointed Mr. Christoph Bruening as a director. Mr. Bruening is the founder and managing partner of Value Relations GmbH, a full-service investor relations and public relations agency in Frankfurt with over 25 years of excellence, focusing on mining, exploration, biotech, and healthcare. Since 1998 he has organized and operated over 500 conferences and over 200 road shows in Germany and throughout Europe. Additionally, he has listed over 600 companies on the Frankfurt Stock Exchange. Mr. Bruening graduated as a Higher Education Chemistry Technischen, Universitat Darmstadt, in 1995. He is the author of several publications, including on rare earths. He has presented at all the leading resource conferences including PDAC, Mine and Money, Deutsche Rohstoff Messe Frankfurt, Edelmetall und Rohstoffmesse Munich, and the Vancouver Resource Investment Conference. He has previously been a director of multiple public companies in Canada, the United States, and Germany. New Risk • May 04
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 19% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$141k free cash flow). Shares are highly illiquid. Earnings have declined by 11% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (CA$1.12m market cap, or US$811.6k). Minor Risk Shareholders have been diluted in the past year (19% increase in shares outstanding). 
