CEO, President and Secretary resigns; François Vachon appointed new CEO

Northann Corp.

Lin Li resigned as CEO, President, Secretary and Treasurer effective Aug 13; left board Aug 18.
François Vachon appointed CEO and board member; 20 yrs financial services, ex-Desjardins senior advisor.
Vachon's salary: $7k/month first 3 months, then $10k/month; one-year term, no bonus or equity.
New CEO's mandate includes remediating delinquent Exchange Act reports and NYSE American compliance.
COO Kurtis W. Winn added roles of President, Secretary and Treasurer.

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