Bri-Chem Corp. Files Management Information Circular and Urges Shareholders to Vote Only the YELLOW Proxy for Bri-Chem's Nominees
Bri-Chem Corp. (TSX: BRY) (OTCQB: BRYFF), a North American oilfield chemical distribution company, has filed its management information circular for the upcoming annual meeting on September 16, 2025. The company urges shareholders to vote for its four nominees using the YELLOW proxy form.
The meeting has become a contested election between Bri-Chem's nominees and a dissident group led by Barry Hugghins, who owns 14% of the company. The Board raises concerns about the dissident nominees' lack of public company experience and potential conflicts of interest. In contrast, Bri-Chem's nominees collectively own 15.6% of the company and possess relevant public company experience.
Bri-Chem Corp. (TSX: BRY) (OTCQB: BRYFF), societ脿 nordamericana di distribuzione di prodotti chimici per il settore oilfield, ha depositato il proprio circolare informativo per la gestione in vista dell'assemblea annuale del 16 settembre 2025. La societ脿 invita gli azionisti a votare per i suoi quattro candidati utilizzando il modulo di delega di colore YELLOW.
L'assemblea si 猫 trasformata in una competizione elettorale tra i candidati di Bri-Chem e un gruppo dissidente guidato da Barry Hugghins, titolare del 14% della societ脿. Il Consiglio esprime preoccupazioni circa la mancanza di esperienza in societ脿 pubbliche dei candidati dissidenti e possibili conflitti di interesse. Per contro, i candidati di Bri-Chem detengono collettivamente il 15,6% della societ脿 e vantano esperienza rilevante in societ脿 quotate.
Bri-Chem Corp. (TSX: BRY) (OTCQB: BRYFF), empresa norteamericana de distribuci贸n de qu铆micos para la industria petrolera, ha presentado su circular informativa de gesti贸n para la pr贸xima junta anual del 16 de septiembre de 2025. La compa帽铆a insta a los accionistas a votar por sus cuatro nominados usando el formulario de poder YELLOW.
La reuni贸n se ha convertido en una elecci贸n disputada entre los nominados de Bri-Chem y un grupo disidente liderado por Barry Hugghins, que posee el 14% de la compa帽铆a. El Consejo plantea inquietudes sobre la falta de experiencia en empresas p煤blicas de los nominados disidentes y posibles conflictos de inter茅s. En cambio, los nominados de Bri-Chem poseen colectivamente el 15,6% de la compa帽铆a y cuentan con experiencia relevante en empresas p煤blicas.
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Bri-Chem Corp. (TSX: BRY) (OTCQB: BRYFF), soci茅t茅 nord-am茅ricaine de distribution de produits chimiques pour champs p茅trolif猫res, a d茅pos茅 sa circulaire d'information de la direction en vue de l'assembl茅e g茅n茅rale annuelle pr茅vue le 16 septembre 2025. La soci茅t茅 encourage les actionnaires 脿 voter pour ses quatre candidats en utilisant le formulaire de procuration de couleur YELLOW.
La r茅union est devenue une 茅lection contest茅e entre les candidats de Bri-Chem et un groupe dissident dirig茅 par Barry Hugghins, qui d茅tient 14 % de la soci茅t茅. Le conseil d'administration soul猫ve des inqui茅tudes quant au manque d'exp茅rience des candidats dissidents en mati猫re de soci茅t茅s publiques et aux conflits d'int茅r锚ts potentiels. En revanche, les candidats de Bri-Chem d茅tiennent collectivement 15,6 % de la soci茅t茅 et poss猫dent une exp茅rience pertinente dans des soci茅t茅s cot茅es.
Bri-Chem Corp. (TSX: BRY) (OTCQB: BRYFF), ein nordamerikanischer Distributor von 脰lfeldchemikalien, hat seinen Management-Informationsprospekt f眉r die bevorstehende Hauptversammlung am 16. September 2025 eingereicht. Das Unternehmen fordert die Aktion盲re auf, mit dem gelben Vollmachtsformular YELLOW f眉r seine vier Nominierten zu stimmen.
Die Versammlung hat sich zu einer umk盲mpften Wahl zwischen den Nominierten von Bri-Chem und einer dissidenten Gruppe unter F眉hrung von Barry Hugghins entwickelt, der 14% des Unternehmens besitzt. Der Vorstand 盲u脽ert Bedenken hinsichtlich der mangelnden Erfahrung der dissidenten Nominierten in b枚rsennotierten Unternehmen sowie m枚glicher Interessenkonflikte. Im Gegensatz dazu halten die von Bri-Chem nominierten Personen zusammen 15,6% des Unternehmens und verf眉gen 眉ber einschl盲gige Erfahrung in 枚ffentlichen Gesellschaften.
- Board members own significant stake (15.6%) showing strong shareholder alignment
- Current board members have public company experience
- Company has implemented Advance Notice By-Law for better corporate governance
- Contested board election indicates internal corporate governance challenges
- Dissident group attempting to gain control without paying premium
- Company operating in challenging environment with declining commodity markets
Edmonton, Alberta--(Newsfile Corp. - September 4, 2025) - Bri-Chem Corp. (TSX: BRY) (OTCQB: BRYFF) ("Bri-Chem" or "Company"), a leading North American oilfield chemical distribution and blending company, announces that it has filed a management information circular (the "Information Circular") and proxy materials (the "Meeting Materials") for the Company's upcoming annual and special meeting of shareholders scheduled to be held on September 16, 2025 (the "Meeting").
Bri-Chem appreciates the support it has received from its shareholders and strongly encourages all shareholders to vote FOR the Bri-Chem nominees without delay, being Don Caron, Eric Sauze, Brian Campbell and Albert Sharp (the "Bri-Chem Nominees") on the YELLOW form of proxy or voting instruction form ("Yellow Proxy"). The Meeting Materials, including the Yellow Proxy, have been mailed to shareholders of Bri-Chem and are available via SEDAR+ at and on the Company's website.
The Meeting will cover both normal course matters and the ratification and approval of By-Law No. 2 (the "Advance Notice By-Law") adopted by the board of directors of the Company (the "Board"). As noted in the Company's press release of June 18, 2025, the Board determined it was in the best interests of the Company and its shareholders to reschedule the Company's shareholder meeting to allow for a detailed review of dissident nominees and to fully inform shareholders about the important voting decision they face.
The Board has reviewed the dissident nominees put forward by Mr. Barry Hugghins and has provided the information below to assist shareholders to make an informed voting decision.
The Dissident Group Notice
In connection with the Meeting, Bri-Chem has received an advance notice letter ("Notice") from Mr. Barry Hugghins, as trustee for Cenatex Holdings, LLC (the "Dissident Group"), pursuant to the Advance Notice By-Law. In the Notice, the Dissident Group has provided notice of its nomination of four (4) individuals to the Board (the "Dissident Group Nominees"). At the Meeting, the Company intends to set the number of directors of the Company at four (4). As the Company and the Dissident Group each intend to nominate four (4) individuals for election to the Board, the number of nominees for election to the Board will be greater than the number of directors to be elected at the Meeting. The Meeting is therefore a "contested election" and the four (4) nominees who receive the greatest number of votes will be elected.
The Board has serious concerns about the experience and independence of the Dissident Group Nominees, as outlined below. Bri-Chem's shareholders are faced with an important choice about the future of the Company and are urged to vote FOR the Bri-Chem Nominees on the YELLOW PROXY.
The Dissident Group Nominees
Upon receipt of the Notice, the Board undertook a review and consideration of the Dissident Group Nominees and their qualifications. The Board believes that none of the four (4) Dissident Group Nominees are qualified additions to the Board and the Company's best interests. Most critically, the Dissident Group Nominees all appear to lack relevant public company experience and suffer from inherent conflicts of interest as outlined below.
| Dissident Group Nominee | Notes |
| Barry Hugghins | - No observable public company director experience in the United States or Canada. |
| John H. Cale | - No observable public company director experience in the United States or Canada. - Principal occupation is Technical Director of Reliant Technologies, Inc. ("Reliant").
|
| Willian Colby Swain | - No observable public company director experience in the United States or Canada. |
| Scott Gaudin | - No observable public company director experience in the United States or Canada. - Principal occupation is President and CEO of Axxess Partners, Inc. ("Axxess"), a privately held bank, and President and CEO of Currency Bank, a privately held bank and wholly-owned subsidiary of Axxess.
|
The Bri-Chem Nominees
In contrast, Bri-Chem's existing board is independent, deeply invested and accountable to all shareholders.
Unlike the Dissident Group Nominees, the Bri-Chem Nominees are truly independent. In putting forth the conflicted Dissident Group Nominees, Mr. Hugghins seeks to gain full, unchecked control of Bri-Chem - despite owning only
The Bri-Chem Nominees are deeply invested and aligned with Bri-Chem's shareholder group. As a whole, the Bri-Chem Nominees own approximately
The Board looks forward to welcoming its shareholders at the Meeting. If you are a shareholder of the Company but cannot attend the Meeting, it is important that your shares be represented. Whether or not you expect to attend the Meeting, you are encouraged to carefully read the Meeting Materials and to vote FOR the Bri-Chem Nominees on the YELLOW PROXY.
Thank you for your continued support and engagement, and we look forward to hosting you on September 16, 2025.
About Bri-Chem
Bri-Chem has established itself, through a combination of strategic acquisitions and organic growth, as the North American industry leader for wholesale distribution and blending of oilfield drilling, completion, stimulation and production chemical fluids. We sell, blend, package and distribute a full range of drilling fluid products from 25 strategically located warehouses throughout Canada and the United States. Additional information about Bri-Chem is available at or at Bri-Chem's website at .
To receive Bri-Chem news updates send your email to [email protected].
For further information, please contact:
| Don Caron Bri-Chem Corp. President and CEO T: (780) 962-9490 E: [email protected] | Tony Pagnucco CPA, CA Bri-Chem Corp. CFO T: (780) 571-8587 E: [email protected] |
Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information or forward-looking statements, as defined under applicable Canadian securities legislation (collectively, "forward-looking statements"). These statements relate to future events or future performance and include statements regarding our intent, or the beliefs or current expectations of our officers and directors. The use of any of the words "could", "should", "anticipates", "plans", "intends", "expects", "believes", "continue", "forecasts", "will", "estimated", "projected" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking statements and are based on the Company's current belief or assumptions as to the outcome and timing of such future events. Actual future results may differ materially.
Although the Company believes that the expectations and assumptions on which such forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. By their nature, such forward-looking statements are subject to various risks and uncertainties, which could cause actual results to differ materially from the anticipated results or expectations expressed herein. These risks and uncertainties include, but are not limited to general economic conditions, prevailing and anticipated industry conditions, access to debt and equity financing on acceptable terms, levels and volatility of commodity prices, maintained demand for drilling fluids, market forces, ability to achieve geographic expansion through new warehouse locations, anticipated impact of new warehouse locations, ability to obtain equipment from suppliers, ability to maintain negotiating power with suppliers and customers, ability to obtain and retain skilled personnel, competition from other industry participants and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release or otherwise. Except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
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FAQ
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