Dear Shareholder ,
Bristol Bay Native Corporation ( BBNC ) is pleased to present the results of the recent shareholder survey on descendant enrollment . More than 4,000 shareholders ( 44 %) completed a survey , and I want to thank everyone who participated . Your opinions are very important to BBNC .
The survey provides BBNC important information that will be used to study the descendant enrollment issue in greater detail .
BBNC is reviewing various options for structuring a potential descendant enrollment that would limit the effects of dilution – but it ’ s important for all shareholders to understand that with any new issuance of shares , some amount of dilution is likely unavoidable .
BBNC will continue to carefully study this important issue and its effects on the corporation and all shareholders . It ’ s also important to remember that just because this issue is being studied , doesn ’ t mean that BBNC is moving forward with descendant enrollment . Any issuance of new shares to descendants must be approved by a vote of the shareholders and no vote on this issue is scheduled at this time .
Thank you again for sharing your views on this important issue . Sincerely ,
Jason Metrokin President and CEO
DESCENDANT ENROLLMENT SURVEY
2021 RESULTS