On December 15, 2020, The K2 Principal Fund L.P. announced that it has submitted a requisition, pursuant to section 167 of the BCBCA, to GT Gold Corp requesting that the Company call and hold a general meeting of shareholders of the Company for the purposes of (i) removing Ashwath Mehra, James Rutherford, and Charles Tarnocai from the board of directors of the Company, (ii) electing Darren McLean, Josef Vejvoda, William Lamb, Margot Naudie, and Harry Pokrandt to the Board, and (iii) requesting the Board terminate the position of Executive Chairman and appoint an independent Chairman of the Board.