The Board of Directors and management of TVI Pacific Inc. consider good governance to be an important factor in the effective operation of the Company. The Board has overall responsibility for the conduct of the business and affairs of the Company and discharges this responsibility both directly and by the delegation of certain authority to committees of the Board and senior management of the Company.

Responsibility of the Board of Directors

Under the Business Corporations Act (Alberta), the Board of Directors is responsible for the management of the business and affairs of the Corporation. In addition to statutorily imposed responsibilities (e.g. approving published financial statements), the Board of Directors retains specific responsibility for: (i) the strategic direction of the Corporation; (ii) the identification of the principal risks to which the Corporation is exposed, and the implementation of systems to manage those risks; (iii) succession planning at the senior management level (including the Board of Director's own composition); (iv) the Corporation's communications policy; and (v) the integrity of the Corporation's internal controls and management information systems. The Board of Directors does not have a written mandate, however, the Board of Directors is aware that it is responsible for the stewardship of the Corporation and  engages with management of the Corporation in overseeing the Corporation's affairs. Certain board responsibilities are delegated to various committees of the Board of Directors, as disclosed here.