Company: AVCRF
Filing Date: 2025-06-16
Form Type: 20-F
Source: 0001641172-25-015266
Chunk: 40

Company: Avricore Health Inc.
Filing Date: 2025-06-16
Form: 20-F
Item: Item 10
Chunk 40
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 has, during the intervals
between meetings of the Board, all of the directors’ powers, except the power to fill vacancies in the Board, the power to remove
a Director, the power to change the membership of, or fill vacancies in, any committee of the Board and any such other powers as may
be set out in the resolution or any subsequent directors’ resolution. Directors may also by resolution appoint one or more committees
other than the executive committee. These committees may be delegated any of the directors’ powers except the power to fill vacancies
on the board of directors, the power to remove a director, the power to change the membership or fill vacancies on any committee of the
directors, and the power to appoint or remove officers appointed by the directors.

Under
the BCA, directors are obligated to abstain from voting on matters in which they may be financially interested after disclosing in writing
such interest. Directors’ compensation is not a matter on which they must abstain. Directors’ borrowing powers are not generally
restricted where the borrowing is in the Company’s best interests, but the directors may not authorize the Company to provide financial
assistance for any reason where the Company is insolvent or the providing of the guarantee would render it insolvent.

Amendment
of Articles and Notice of Articles; Special Transactions

The
Articles provide that the general authority required to amend all provisions of the Company’s Articles and the Notice of Articles
relating to the authorized share structure is a resolution of the directors and the attachment of special rights and restrictions thereto,
including any changes therein, an ordinary resolution. If the amendment prejudices or interferes with the rights or special rights attached
to any class of issued shares, by the provisions of the BCA, the consent of the holders of that class of shares by a special separate
resolution is also required.

Certain
corporate changes or proposed transactions including amalgamation with another company, sale of substantially all of the Company’s
assets, re-domiciling out of the jurisdiction of British Columbia, creation of new classes of shares not only require the consent of
the holders of common shares by a special separate resolution but generally also give rise to a dissent right which is the right to be
paid the fair value of the stockholder’s shares in cash if the required special resolution is actually passed and the Company elects
to proceed with the matter notwithstanding receipt of dissent notices. A notice of a shareholders meeting at which such a change or proposed
transaction is intended to be considered must include a