<SEC-DOCUMENT>0001213900-24-039648.txt : 20240503
<SEC-HEADER>0001213900-24-039648.hdr.sgml : 20240503
<ACCEPTANCE-DATETIME>20240503163110
ACCESSION NUMBER:		0001213900-24-039648
CONFORMED SUBMISSION TYPE:	DFRN14A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240503
DATE AS OF CHANGE:		20240503

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Braemar Hotels & Resorts Inc.
		CENTRAL INDEX KEY:			0001574085
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				462488594
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFRN14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35972
		FILM NUMBER:		24913715

	BUSINESS ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY
		STREET 2:		SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254
		BUSINESS PHONE:		(972) 490-9600

	MAIL ADDRESS:	
		STREET 1:		14185 DALLAS PARKWAY
		STREET 2:		SUITE 1100
		CITY:			DALLAS
		STATE:			TX
		ZIP:			75254

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Ashford Hospitality Prime, Inc.
		DATE OF NAME CHANGE:	20130410

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Blackwells Capital LLC
		CENTRAL INDEX KEY:			0001720183
		ORGANIZATION NAME:           	
		IRS NUMBER:				815196117
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DFRN14A

	BUSINESS ADDRESS:	
		STREET 1:		800 THIRD AVENUE
		STREET 2:		39TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
		BUSINESS PHONE:		212-792-6096

	MAIL ADDRESS:	
		STREET 1:		800 THIRD AVENUE
		STREET 2:		39TH FLOOR
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10022
</SEC-HEADER>
<DOCUMENT>
<TYPE>DFRN14A
<SEQUENCE>1
<FILENAME>ea0205251-dfrn14a_blackwells.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
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<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION<BR>
Washington, D.C. 20549</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">Proxy Statement Pursuant to Section&nbsp;14(a)&nbsp;of<BR>
the Securities Exchange&nbsp;Act&nbsp;of&nbsp;1934</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 35%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed&nbsp;by&nbsp;the&nbsp;Registrant</FONT></TD>
    <TD STYLE="width: 65%; text-align: justify">&#9744;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
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    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed&nbsp;by&nbsp;a&nbsp;Party&nbsp;other&nbsp;than&nbsp;the&nbsp;Registrant</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Check the appropriate box:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in; text-align: justify">&#9744;&nbsp;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preliminary Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Confidential, for Use of the Commission Only (as permitted by Rule&nbsp;14a-6(e)(2))</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Proxy Statement</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Definitive Additional Materials</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Soliciting Material under &sect;240.14a-12</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Braemar Hotels&nbsp;&amp;
Resorts Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 18pt"><B></B></FONT><FONT STYLE="font-size: 10pt">(Name of Registrant as Specified In Its Charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Blackwells Capital LLC<BR>
Blackwells Onshore&nbsp;I LLC<BR>
Jason Aintabi<BR>
Michael Cricenti<BR>
Jennifer M.&nbsp;Hill<BR>
Betsy L.&nbsp;McCoy<BR>
Steven J.&nbsp;Pully<BR>
</B>(Name Of Person(s)&nbsp;Filing Proxy Statement, if Other Than the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Payment of Filing Fee (Check all boxes that apply):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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    <TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9746;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No fee required.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee paid previously with preliminary materials.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fee computed on table in exhibit required by Item&nbsp;25(b)&nbsp;per Exchange&nbsp;Act Rules 14a-6(i)(1)&nbsp;and&nbsp;0-11.</FONT></TD></TR>
  </TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>BLACKWELLS CAPITAL LLC</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Blackwells Capital LLC (&ldquo;Blackwells Capital,&rdquo;
and collectively with Blackwells Onshore I LLC and Jason Aintabi, &ldquo;Blackwells&rdquo; or &ldquo;we&rdquo;) is filing this amendment
to its definitive proxy statement dated April 3, 2024 (the &ldquo;Proxy Statement&rdquo;) in connection with the election of our four
nominees (the &ldquo;Blackwells Nominees&rdquo;) to the board of directors (the &ldquo;Board&rdquo;) of Braemar Hotels &amp; Resorts Inc.
(the &ldquo;Corporation&rdquo;) and our non-binding proposals to (i) urge the Board to amend the Corporation&rsquo;s Fifth Amended and
Restated Bylaws, as amended (the &ldquo;Bylaws&rdquo;) to remove the Overreaching Advance Notice Provision (as defined in the Proxy Statement),
(ii) urge the Board to amend the Bylaws to preclude any current or former employee, director, officer, or control person of the Corporation
or Ashford (as defined in the Proxy Statement) and Ashford&rsquo;s affiliates from serving as the Corporation&rsquo;s chairman of the
Board, (iii) require the Board to disclose all extraordinary transaction proposals made by stockholders, affiliates and third parties
during the two most recently completed calendar years and the terms of those proposed transactions and (iv) require the Board to disclose
all compensation paid by the Corporation to members of the Bennett family, <I>The Dallas Express</I> and employees, directors or agents
of <I>The Dallas Express</I>, including Louis Darrouzet (collectively, the &ldquo;Blackwells Proposals&rdquo;), each at the Corporation&rsquo;s
2024 Annual Meeting of Stockholders (the &ldquo;Annual Meeting&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">According to the Corporation&rsquo;s Amendment
No. 2 to its preliminary proxy statement filed with the Securities and Exchange Commission (the &ldquo;SEC&rdquo;) on April 25, 2024,
the Annual Meeting will now be <FONT STYLE="font-family: Times New Roman, Times, Serif">held at 14185 Dallas Parkway, Suite 1200, Dallas,
Texas 75254 on July 30, 2024 at 9:00 A.M. Central Daylight Time</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>WE URGE YOU TO VOTE&nbsp;ON OUR&nbsp;<U>WHITE</U>&nbsp;UNIVERSAL
PROXY CARD&nbsp;<U>FOR</U>&nbsp;THE ELECTION OF EACH OF OUR NOMINEES AND THE BLACKWELLS PROPOSALS.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">According to the Company&rsquo;s Amendment No.
2 to its preliminary proxy statement, the record date for the Annual Meeting will now be May 2, 2024 (the &ldquo;Record Date&rdquo;).
Stockholders who have already voted do not need to recast their votes unless they wish to change their votes. Proxies previously submitted
will be voted at the Annual Meeting unless properly revoked. Stockholders who have not already voted are encouraged to do so promptly
using the instructions provided in their voting instruction form or proxy card.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the Record Date, Blackwells, together with
the other participants in this solicitation, owned an aggregate of 930,100 shares of common stock, $0.01 par value per share, of the Corporation
(the &ldquo;Common Stock&rdquo;). As of the Record Date, Blackwells Capital beneficially owned an aggregate of 920,100 shares of Common
Stock, including 100 shares of Common Stock in record name. As of the Record Date, Blackwells Onshore I LLC beneficially owned an aggregate
of 10,000 shares of Common Stock. As of the Record Date, Mr. Aintabi beneficially owned an aggregate of 930,100 shares of Common Stock.
As of the Record Date, none of the Blackwells Nominees owned any shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Board has purported to reject as invalid
our nominations to elect each of Blackwells&rsquo; nominees and the submission of the Blackwells Proposals and determined that our
notice is purportedly non-compliant with the Bylaws and defective. <FONT STYLE="font-family: Times New Roman, Times, Serif">On
March&nbsp;24, 2024, the Corporation brought suit against Blackwells, Blackwells Onshore I, LLC, Blackwells Holding Co. LLC,
Vandewater Capital Holdings, LLC, Blackwells Asset Management LLC, BW Coinvest Management I LLC, Jason Aintabi and the Blackwells
Nominees in the United States District Court for the Northern District of Texas (the &ldquo;District Court&rdquo;), seeking
injunctive relief against solicitation of proxies by Blackwells and a declaratory judgment that Blackwells&rsquo; nomination notice
is invalid due to Blackwells&rsquo; alleged violations of the Corporation&rsquo;s Bylaws, and, as a result, Blackwells&rsquo; slate
of purported nominees is invalid and ineligible to stand for election by the Corporation&rsquo;s stockholders. Ultimately, we
believe the Corporation&rsquo;s claims have no merit. </FONT>On April 11, 2024, Blackwells Capital filed a Complaint in the District
Court against the Corporation and the Corporation&rsquo;s directors. Blackwells Capital alleges, among other things, that the
Corporation improperly rejected Blackwells Capital&rsquo;s nomination notice, breached its bylaws, and violated Section 14(a) of the
Securities Exchange Act of 1934 by issuing false and misleading statements and failing to disclose <I>The Dallas Express</I> as a
proxy participant. The action filed by the Corporation on March 24, 2024 and the action filed by Blackwells Capital on April 11,
2024 have been consolidated (the &ldquo;Consolidated Litigation&rdquo;). <FONT STYLE="font-family: Times New Roman, Times, Serif">The
Consolidated Litigation is currently stayed. The outcome of the Consolidated Litigation and any related litigation may affect our
ability to deliver proxies submitted to us on the <B><U>WHITE</U></B> Universal Proxy Card.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As the Corporation has disclosed in its proxy
statement, if Blackwells&rsquo; nominations and proposals are determined to be valid by the District Court, the Corporation will need
to furnish new proxy cards to stockholders including the Blackwells Nominees and the Blackwells Proposals. If you vote on the Corporation&rsquo;s
gold proxy card accompanying its proxy statement and any subsequent litigation results in the conclusion that our nominations and proposals
are valid, your votes on the Corporation&rsquo;s gold proxy card will not be recognized or tabulated at the Annual Meeting and you will
need to vote again for your vote to be counted. Stockholders are urged to use the<B>&nbsp;<U>WHITE</U></B>&nbsp;Universal Proxy Card only,
which contains the names of all directors up for election at the Annual Meeting, to ensure their vote is counted at the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>REVOCATION OF PROXIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any proxy may be revoked by you at any time prior
to the time a vote is taken by delivering a notice of revocation bearing a later date, by delivering a duly executed proxy bearing a later
date or by attending and voting at the Annual Meeting (but attendance at the Annual Meeting will not by itself constitute revocation of
a prior delivered proxy). The revocation may be delivered either to Blackwells, at c/o Corporate Election Services, P.O. Box 3230, Pittsburgh,
PA 15230 or to the Corporation&rsquo;s Secretary at 14185 Dallas Parkway, Suite 1200, Dallas, Texas 75254 or any other address provided
by the Corporation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you have already sent a proxy card to the Corporation,
you can revoke that proxy card by (i)&nbsp;signing, dating and mailing the&nbsp;<B><U>WHITE</U>&nbsp;</B>Universal Proxy Card, (ii)&nbsp;voting
via the Internet, by following the instructions on the&nbsp;<B><U>WHITE</U></B>&nbsp;Universal Proxy Card or (iii)&nbsp;voting at the
Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If any of your shares are held in the name of
a bank, broker or other nominee, only it can vote such shares and only upon receipt of your specific instructions. Depending on your broker
or custodian, you may be able to vote via the Internet. Please contact the person responsible for your account and direct him or her to
vote on the&nbsp;<B><U>WHITE</U>&nbsp;</B>Universal Proxy Card &ldquo;<B>FOR</B>&rdquo; the election of the Blackwells Nominees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>ADDITIONAL INFORMATION AND WHERE TO FIND IT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Stockholders can obtain copies of Blackwells&rsquo;
definitive proxy statement, any amendments or supplements to the proxy statement, and other documents filed by Blackwells with the SEC
for no charge at the SEC&rsquo;s website at www.sec.gov.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">If you have any questions or require any assistance
with voting your shares, please contact our proxy solicitor, MacKenzie Partners, Inc., at its address and toll-free number listed below.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 24pt">MacKenzie Partners, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 24pt">1407 Broadway, 27<SUP>th</SUP>&nbsp;Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 24pt">New York, NY 10018</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 24pt">Call Toll Free: 1-800-322-2885</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 24pt">Email: proxy@mackenziepartners.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

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