Morgan Lekstrom
About Morgan Lekstrom
Morgan Lekstrom (age 40) is Chairman of the Board of BioSig Technologies (the “Combined Company”) since May 28, 2025, after co-founding and chairing Streamex; he brings nearly 20 years of global commodities experience and has led operations at Freeport-McMoRan (Grasberg), Rio Tinto (Oyu Tolgoi), Golden Star Resources (Ghana), and Sabina Gold & Silver (Back River) . He is independent under Nasdaq rules and not a member of the Audit, Compensation, or Nominating & Corporate Governance committees . He also serves externally as CEO of Premium Resources Ltd. (TSXV: PREM) since March 2025 . Lekstrom joined BioSig’s Board at the Streamex closing on May 28, 2025 and was appointed Chairman the same day .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Freeport-McMoRan (Grasberg, Indonesia) | Senior technical/leadership roles | 2010–2011 | Large-scale mine operations exposure |
| Rio Tinto (Oyu Tolgoi, Mongolia) | Senior technical/leadership roles | 2012–2013 | Major copper/gold project experience |
| Golden Star Resources (Ghana) | Senior technical/leadership roles | 2015–2017 | African gold operations leadership |
| Sabina Gold & Silver | Engineering Manager | 2017–2018 | Led Back River Marine Laydown Project execution |
| NexGold Mining Corp (incl. predecessor BlackWolf Copper & Gold) | President & CEO | 2022–2024 | Built two near‑term Canadian gold projects |
| Streamex Exchange Corporation | Co‑Founder & Chairman | Since Sept 2023 | Led RWA tokenization strategy and governance |
External Roles
| Organization | Role | Tenure | Listing / Committees |
|---|---|---|---|
| Premium Resources Ltd. | Chief Executive Officer | Since Mar 2025 | TSXV: PREM; committees not disclosed |
| Streamex Exchange Corporation | Executive Chairman (pre‑merger) | Since Sept 2023 | Private; governance leadership |
Board Governance
- Independence: Board determined Lekstrom is an independent director under Nasdaq rules; only CEO Henry McPhie and director Anthony Amato are non‑independent .
- Board leadership: Selected by the Board as Chairperson of the Combined Company .
- Committees: Not on Audit, Compensation, or Nominating & Corporate Governance committees; those committees are fully independent and chaired by other directors .
| Director | Audit Committee | Compensation Committee | Nominating & Corporate Governance |
|---|---|---|---|
| Morgan Lekstrom (Chair of Board) | — | — | — |
| Steven E. Abelman | Chair | Member | Member |
| Donald F. Browne | Member | Chair | Chair |
| Christopher A. Baer | Member | Member | Member |
| Henry McPhie | — | — | — |
| Anthony Amato | — | — | — |
Attendance: 2025 attendance for Lekstrom not disclosed; prior (2023) Board had four meetings with 100% attendance by incumbents then serving (preceded Lekstrom’s tenure) .
Fixed Compensation
| Policy Item | Amount | Effective Date | Notes |
|---|---|---|---|
| Director quarterly retainer (in‑person) | $15,000 | Starting Jan 2021 | Option for $20,000 for committee chair; telephonic $7,500 (waived during pandemic) |
| Director quarterly retainer (all directors) | $10,000 | Starting Apr 2024 | Current policy as of Nov 2024 proxy |
The 2025 proxy does not disclose any updated director cash/equity retainer specific to Lekstrom; prior director comp policy applies unless amended .
Performance Compensation
- No performance‑based director compensation metrics disclosed (e.g., revenue/EBITDA/TSR targets for directors) in proxy materials; historical director equity was granted to prior directors without stated performance metrics in 2023 .
Other Directorships & Interlocks
| Entity | Type | Role/Position | Interlock/Relationship |
|---|---|---|---|
| Premium Resources Ltd. (TSXV: PREM) | Public company | CEO (since Mar 2025) | No disclosed transactional ties to BioSig/Streamex |
| Streamex Exchange Corporation | Subsidiary post‑closing | Executive Chairman pre‑closing | Streamex became wholly owned subsidiary of BioSig under share exchange; Lekstrom appointed BioSig Chair at closing |
Potential interlock: Leadership at Streamex pre‑closing and Chair role at BioSig post‑closing aligns interests but creates oversight sensitivity given related‑party elements of the transaction .
Expertise & Qualifications
- Commodities operations and engineering leadership across Tier‑1 mining projects (Grasberg, Oyu Tolgoi, Ghana, Back River) .
- Resource development CEO experience; built near‑term gold projects; now leading a public mining company (Premium Resources) .
- Blockchain and tokenization strategy through Streamex; bridges traditional commodities finance with digital markets—core to Combined Company’s RWA strategy .
Equity Ownership
| Component | Quantity | % of Common | Details / Restrictions |
|---|---|---|---|
| Common Stock beneficially owned | 1,037,442 shares | 3.21% | As of July 22, 2025; includes instruments exercisable/exchangeable within 60 days; subject to 5.01% cap on Exchangeable Share issuances to any holder |
| Exchangeable Shares received (from Streamex share exchange) | 20,707,421 | N/A | Issued on same terms as other shareholders; exchangeable 1:1 into BioSig shares after approvals; interests noted as potential conflict |
| Founder shares in Streamex | 83,333 (June 6, 2024) valued at $0.15; 13,749,999 (Nov 26, 2024) valued at $0.0001 | N/A | Incorporators’ allotment and founders issuance prior to share exchange |
Ownership alignment: Material stake through Exchangeable Shares and beneficial ownership; issuance limitations restrict immediate exchanges to stay below ownership thresholds .
Related‑Party Transactions and Conflicts
- Streamex founder and executive: Received founder share issuances in 2024 (83,333 shares at $0.15; 13,749,999 shares at $0.0001) .
- Exchange consideration: Received 20,707,421 Exchangeable Shares for 41,414,842 Streamex Shares; appointment as BioSig Chairman contemporaneous with closing; disclosure flags “Interests of Certain Persons” in the Share Exchange .
- Policy: Related‑party transactions reviewed case‑by‑case by disinterested Board members; must be fair and reasonable to stockholders .
Governance Assessment
- Independence and Board role: Lekstrom is independent under Nasdaq rules and serves as non‑executive Chair—good for oversight separation from management (CEO McPhie) .
- Committee architecture: Not seated on audit/comp/nom‑gov committees; those remain fully independent and chaired by other directors, supporting checks and balances .
- Ownership alignment vs. conflict sensitivity: Significant Exchangeable Shares and prior founder stakes provide strong alignment but create perceived conflicts tied to change‑of‑control and transaction benefits; Board disclosed these interests explicitly—a necessary transparency step .
- Compensation visibility: Director cash retainer policy disclosed (latest update April 2024); no 2025 director equity/fee specifics for Lekstrom—monitor upcoming filings for updated Chair retainer/equity mix .
- RED FLAGS: Related‑party exposure from founder and exchangeable issuances; concentration of influence as Chair with major RWA strategy shift; lack of disclosed 2025 attendance/performance metrics for directors to evaluate engagement rigor .
Strategic implication: Governance structure preserves committee independence while leveraging Chair’s domain expertise in commodities/tokenization; investors should monitor execution milestones and future proxy disclosures (director comp updates, attendance, and any additional related‑party arrangements) to gauge board effectiveness and alignment through the transition .