Megastar Development Corp. announced that at the company's annual general meeting held on November 29, 2012 the shareholders elected Paul A. Smith and Jonathan M. Rich as directors. Long-time serving company director and former CFO Gary Musil has retired from the board.

Paul Smith spent most of his career in the non-ferrous mining and smelting industry. After a 20-year distinguished career with Rio Tinto Zinc group of companies and 8 years with Pechiney World Trade, Paul was a founding shareholder and Finance Director of Ocean Partners Holdings Limited. Jonathan Rich's experience is with helping companies execute their growth strategies through partnerships and acquisitions.