Nickel 28 Releases Letter to Shareholders and Files Meeting Materials for the Upcoming Annual General and Special Meeting of Shareholders
18 May 2023 - 9:00PM
Business Wire
Nickel 28’s Highly Aligned Board and Management
Team is Driving Value for All Shareholders
Pelham and its Nominee Directors Threaten to
Derail Nickel 28’s Positive Momentum
Pelham Has No Compelling Case for Change and No
Real Plan for Your Investment
Nickel 28 Shareholders Vote Your
BLUE Proxy Today!
Nickel 28 Capital Corp. (“Nickel 28” or the
“Company”) (TSXV: NKL) (FSE: 3JC0) announced
that it has filed its management information circular (the
“Circular”) and related proxy materials in connection with
its annual general and special meeting (the “Meeting”) of
shareholders scheduled for June 12, 2023 at 10:00 a.m. (Toronto
Time).
Nickel 28 has also released a letter to shareholders, that along
with the proxy materials, details the compelling value creation
opportunity available to Nickel 28 shareholders under the continued
stewardship of the Company’s five highly qualified nominees for the
board of directors (the “Board”) on the BLUE proxy.
The letter and proxy materials also detail:
- The careful positioning of the Company by the Board and
management team of Nickel 28 that has created the premier
investment vehicle to benefit from the growth and demand for
battery metals.
- Pelham Investment Partners LP’s (“Pelham”) repeated
attempts to take-over Nickel 28, and the potentially value
destructive consequences to shareholders if they prevail in
electing their nominees.
- Pelham’s poorly qualified nominees for the Board, and its lack
of a track record of value creation, relevant experience, and a
credible plan for Nickel 28.
- Nickel 28’s transformational inflection point and the catalysts
that can unlock and drive value for the benefit of ALL shareholders.
A copy of the letter is available at www.ProtectNKL28.com and
has been filed on SEDAR.
“The Board and management team of Nickel 28 have worked
tirelessly to position and actively manage the Company’s assets
which has brought us to a transformational inflection point. With
Nickel 28 shareholders poised to capture the multi-year upside
opportunity in battery metals, it is unfortunate but not surprising
that an opportunistic hedge fund like Pelham has turned up to
attempt to short circuit that value realization,” said Philip
Williams, Lead Independent Director of Nickel 28.
“Our Board and management team collectively own over 21% of our
shares, and they are highly aligned with shareholders. Our
significant experience in mining, operations, commodity markets and
sales, geology and mergers and acquisitions, as well as experience
managing and preserving local relationships has been vital to the
active management of our Ramu joint venture interest and our
royalty portfolio. Nothing that Pelham has disclosed about itself,
or its nominees suggests they can replace that expertise or
experience,” continued Mr. Williams.
Vote the BLUE Proxy or
BLUE VIF FOR Nickel 28’s five
director nominees to continue Nickel 28’s proven strategy for value
creation and strong momentum. Nickel 28 encourages you to vote well
before the proxy voting deadline on June 8, 2023 at 10:00 a.m.
(Toronto time).
The Circular provides important information on the business of
the meeting, including Nickel 28’s Board, as well as related
matters such as voting procedures and how to attend the Meeting.
The Board has selected Maurice Swan, an independent director, to
act as Chair of the Meeting and Mr. Swan has retained independent
counsel to advise him in his capacity as Chair with respect to,
among other things, his review and consideration of the validity of
the advance notice nomination provided by Pelham, which remains
ongoing. Shareholders are urged to read the Circular carefully and
in its entirety. The Circular is available on Nickel 28’s website
at www.ProtectNKL28.com and under the Company’s profile on SEDAR at
www.sedar.com.
If you have any questions or need help
voting your shares, please contact Kingsdale Advisors toll free in
North America at 1-888-518-1557, or call collect from outside North
America at 416-623-4173, or by email at
contactus@kingsdaleadvisors.com if you need assistance with voting
your shares.
Advisors
Stikeman Elliott LLP and Bennett Jones LLP are acting as legal
counsel to Nickel 28. BMO Capital Markets is acting as financial
advisor to Nickel 28. Kingsdale Advisors is acting as strategic
shareholder advisor to Nickel 28. Gagnier Communications LLC is
acting as strategic communications advisor to Nickel 28.
About Nickel 28
Nickel 28 Capital Corp. is a nickel-cobalt producer through its
8.56% joint-venture interest in the producing, long-life and
world-class Ramu Nickel-Cobalt Operation located in Papua New
Guinea. Ramu provides Nickel 28 with significant attributable
nickel and cobalt production thereby offering our shareholders
direct exposure to two metals which are critical to the adoption of
electric vehicles. In addition, Nickel 28 manages a portfolio of 10
nickel and cobalt royalties on development and exploration projects
in Canada, Australia and Papua New Guinea.
Cautionary Note Regarding Forward-Looking Statements
This news release contains certain information which constitutes
‘forward-looking statements’ and ‘forward-looking information’
within the meaning of applicable Canadian securities laws. Any
statements that are contained in this news release that are not
statements of historical fact may be deemed to be forward-looking
statements. Forward-looking statements are often identified by
terms such as “may”, “should”, “anticipate”, “expect”, “potential”,
“believe”, “intend” or the negative of these terms and similar
expressions. Forward-looking statements in this news release
include, but are not limited to: statements with respect to the
Meeting, anticipated catalysts that can unlock and drive value for
Nickel 28 shareholders, industry trends and growth drivers, the
ongoing review of the advance notice nomination provided by Pelham
and matters relating thereto. Readers are cautioned not to place
undue reliance on forward-looking statements. Forward-looking
statements involve known and unknown risks and uncertainties, most
of which are beyond the Company’s control. Should one or more of
the risks or uncertainties underlying these forward-looking
statements materialize, or should assumptions underlying the
forward-looking statements prove incorrect, actual results,
performance or achievements could vary materially from those
expressed or implied by the forward-looking statements.
The forward-looking statements contained herein are made as of
the date of this release and, other than as required by applicable
securities laws, the Company does not assume any obligation to
update or revise them to reflect new events or circumstances. The
forward-looking statements contained in this release are expressly
qualified by this cautionary statement.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. No securities regulatory authority has
either approved or disapproved of the contents of this news
release.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230518005385/en/
Investor Contact:
Justin Cochrane, President Tel: + 1 289 314 4766 Email:
info@nickel28.com
Kingsdale Advisors Tel: 1-888-518-1557 or 416-867-2272 Email:
contactus@kingsdaleadvisors.com
Media:
Gagnier Communications Riyaz Lalani & Dan Gagnier Tel: +1
416 305 1459 Email: NKL28@gagnierfc.com
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