Item
5.02
Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangement of Certain Officers
(b) Resignation of Directors and
Certain Officers
Effective March 1, 2008, James McCubbin
and Richard Auchinleck resigned as members of the board of directors of Red Mile
Entertainment Inc., a Delaware corporation (“Red Mile”). Mr. McCubbin also
resigned as Chairman of Red Mile’s audit committee. Mr. McCubbin will continue
to support Red Mile in a consultative capacity for two months.
Effective February 29, 2008, Glenn Wong
resigned as President and Chief Operating Officer of Red Mile, and effective
March 1, 2008, Ben Zadik resigned as Chief Financial Officer and Secretary of
Red Mile. Mr. Zadik will remain with the company as a non-executive consultant
for at least the next sixty days.
(c) Appointment of Certain
Officers
Effective March 1, 2008, Red Mile
appointed Simon Price as President.
Mr. Price previously served as a
strategic consultant to Red Mile, a position he has held since the company’s
formation in 2004.
Mr. Price holds a Bachelor of
Engineering degree from the University of Newcastle upon Tyne, United Kingdom,
and a Master of Science degree from Imperial College, University of London,
United Kingdom.
There are no family relationships
between Mr. Price and any other executive officers or directors of Red Mile.
There have been no transactions during Red Mile’s last two fiscal years, or any
currently proposed transaction, or series of similar transactions, to which Red
Mile was or is to be a party, in which the amount involved exceeds $60,000 and
in which Mr. Price had or will have a direct or indirect material
interest.