On May 24, 2013, Degaro Innovations Corp. board of directors received the resignations of Ms. Sheryl Briscoe as President, Secretary and Treasurer of the Company and Ms. Nagria Ricketts as Vice President. Following Ms. Briscoe's resignation, she will continue to serve as a director of the Company.

On May 24, 2013, the Company's Board of Directors appointed Thomas Hynes to serve as Chief Executive Officer and as a member of the Company's Board of Directors commencing on May 24, 2013 (the Effective Date"). Mr. Hynes has over twenty five years of leadership experience within the energy, mineral and financial industries, with a background in domestic and international oilfield well site services and gold mining/dredging operations.