On January 11, 2024, High Arctic Energy Services Inc announced that the results of the Special General Meeting of the shareholders held on January 10, 2024 which was held in response to a shareholder meeting requisition from VN Capital Management, LLC requesting that the directors of the Corporation call a meeting of the shareholders for the purpose of (a) removing the Chairman of the Board of Directors of the Corporation and; (b) if the removal resolution is approved, to elect a replacement director. Management of the Corporation nominated Michael Maguire, the CEO of the Corporation, to fill the vacancy in the event that the removal resolution was passed. VN Capital nominated three individuals for that purpose, Harvey Joel, Maryse C. Saint Laurent, and Richard Kreger.

The Company added that the removal resolution was defeated by a majority of the shareholders with 26,638,770 or 84.342% of the votes cast by the Company shareholders voting against the removal of the Chairman of the Board of Directors of the Corporation. Accordingly, there was no director vacancy, and no new director was elected at the Meeting.