Item 5.01. Changes in Control of Registrant.
On October 22, 2019, a change in control of Crown Baus Capital Corp. (the
"Company") occurred when Raymond C. Dabney sold all of his 80,000,000 common
shares in a private share purchase transaction to Charles J.S. Kwon for cash
consideration of $8,000. Mr. Kwon now has voting control over 55.7% of the
Company's outstanding and issued common stock.
There are no arrangements or understandings among members of both the former and
new control groups and their associates with respect to election of directors or
other matters.
To the knowledge of the Company, there are no arrangements, including any pledge
by any person of securities of the Company, the operation of which may at a
subsequent date result in a further change in control of the Company.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers.
On October 22, 2019, a shareholder holding majority voting power of the shares
of the Company, by written consent, voted to elect Charles J.S. Kwon to the
Company's board of Directors.
On October 22, 2019, the Company received the resignation of Raymond C. Dabney
as the Company's President, Chief Executive Officer and Director. On the same
date, the Company received the resignation of Robert Kane as the Company's Chief
Operating Officer and Director. The departure of Messrs. Dabney and Kane from
the Company's Board decreases the Company' Board of Directors to 2 members.
Also on October 22, 2019, the Company appointed Charles J.S. Kwon as its
President and Chief Executive Officer.
Mr. Kwon received his Business Diploma from the British Columbia Institute of
Technology in 2002. Afterwards, he started his career in the capital markets as
a trader. Then in 2006, as an Investment Advisor at Global Securities. For the
past 5 years, Mr. Kwon has been a partner at ReThink, managing their Real Estate
and Investment holdings. Mr. Kwon melds his experience in the capital market
sector with business expertise, inspirational vision, fundraising experience and
strategic focus.
Mr. Kwon will serve as a Company director and officer until his duly elected
successor is appointed or his resignation. There are no arrangements or
understandings between Mr. Kwon any other person pursuant to which he was
selected as an officer or director. There are no family relationships between
Mr. Kwon and any of the Company's officers or directors. Mr. Kwon has not held
any other directorships in a company with a class of securities registered
pursuant to section 12 of the Exchange Act or subject to the requirements of
section 15(d) of such Act or any company registered as an investment company
under the Investment Company Act of 1940 during the past 5 years.
Item 8.01. Other Events
Effective October 22, 2019, the Company's new address is Suite 205 - 2383 King
George Blvd Surrey, British Columbia V4A 5A4 and the Company's new phone number
is 1-877-734-8420.
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