CSE: WBIO

Corporate Governance

The Board

The Board (meaning the Board of Directors) has direct access to management of the Company and intends to review and update its risk identification and management strategy on an as-needed basis. The Board routinely asks probing questions and seeks confirmations that decisions are consistent with Board-approved strategies and the company’s overall risk appetite.

The Board will take appropriate steps to stay informed of key developments, which could increase the company’s risk exposure in the emerging market. The Board will review carefully how disruptions to business operations related to operation in an emerging market are dealt with by management.

The Board and Directors

Board of directors responsible for the day-to-day management of the company.

Audit committee

The principal duties and responsibilities of the Audit Committee will be to assist the Board in discharging the oversight of: the company’s consolidated financial statements, accounting and financial processes, audits of consolidated financial statements; compliance with legal and regulatory requirements; external auditors’ qualifications and independence; work and performance of financial management and external auditors; system of disclosure controls and procedures and system of internal controls.

Members of the audit committee

Conflict of interest

Directors and officers of the Company also serve as directors and/or officers of other companies and may be presented from time to time with situations or opportunities which give rise to apparent conflicts of interest especially insofar as taking advantage, directly or indirectly, of information or opportunities acquired in their capacities as directors or officers of the Company. All conflicts of interest will be resolved in accordance with the BCBCA - Business Corporations Act (British Columbia) S.B.C. 2002 c.57.