WAINWRIGHT, AK — At a special meeting in November 2020, the Olgoonik Corporation Board of Directors approved a resolution to ask shareholders to vote on an increase in the number of Class B Common Stock. At the 2021 Annual Meeting of Shareholders scheduled for June 12, 2021, shareholders will vote on this matter. If approved by the majority of shareholders, then the increase would re-open shareholder enrollment to afterborns.

The opening of additional Class B shares has been an ongoing discussion among shareholders and the Board of Directors. After several meetings and the careful review of information, including this Shareholder Demographic Study prepared by economist and data analyst Steve Colt, the Board has deliberated and completed its due diligence in reaching this point.

In addition to the annual election of directors, this year’s proxy will include the question of whether or not OC should open additional Class B shares and amend the stock policies to disallow the gifting of Class B shares. The proxy and proxy statement will be mailed to shareholders in May.

If you have a question or comment, please leave a message at 1-855-763-2613 or email questions@olgoonik.com. Our dedicated staff will review shareholders’ comments and create an FAQ to address common questions or concerns. Due to COVID-19 precautions, OC offices in Wainwright and Anchorage are closed to visitors so we encourage shareholders to communicate directly with the corporation through phone or email.