On November 5, 2020, Tim Peterson filed a notice with the President and CEO of Rifco Inc. for the nomination of 4 independent directors to be elected to the board of the Company at the annual general and special meeting of the Company to be held on December 11, 2020. Tim Peterson stated that he has filed the notice in accordance with By-Law No. 1-A of the Company (By-Law 1-A), as the Company has been unresponsive to the concerned shareholders’ numerous attempts to engage in discussion for an orderly and fair election.