Nickel 28 Responds to Pelham’s Distraction Tactics and Misleading Claims
25 May 2023 - 7:29AM
Business Wire
Pelham Avoids Answering to Shareholders for its
Zero Premium Takeover Attempt and Lack of a Credible Plan
Nickel 28 Shareholders Vote Your
BLUE Proxy Today!
Nickel 28 Capital Corp. (“Nickel 28” or the
“Company”) (TSXV: NKL) (FSE: 3JC0) today
responded to the personal attacks and mischaracterizations
contained in Pelham Investment Partners LP’s (“Pelham”)
information circular and related proxy materials in connection with
Nickel 28’s annual general and special meeting (the
“Meeting”) of shareholders scheduled for June 12, 2023, at
10:00 a.m. (Toronto time).
“Pelham’s latest personal attacks and mischaracterizations are a
distraction tactic aimed at diverting attention from their repeated
attempts to gain control of Nickel 28 and Pelham’s lack of a
credible plan to drive value for shareholders. Pelham’s purported
nominees do not have the expertise, experience and relationships
required to actively manage the Ramu joint venture interest and our
royalty portfolio,” said Anthony Milewski, Executive Chairman of
Nickel 28.
As Nickel 28 previously disclosed to shareholders, the chairman
of the Meeting (the “Chairman”), advised by independent
counsel, determined that Pelham failed to deliver a proper notice
(the “Notice”) in compliance with the Company’s advance
notice provisions, and consequently, Pelham will not be entitled to
nominate candidates for election to the board of directors of
Nickel 28 (the “Board”) at the Meeting. Any votes cast for
the election of Pelham’s director nominee candidates will
accordingly not be effective.
As also previously disclosed, the Chairman’s independent legal
counsel has commenced a proceeding in the Supreme Court of British
Columbia seeking a declaration confirming the decisions made by him
in respect of the Notice and the Meeting. The Chairman is seeking
such Court declaration prior to the scheduled date of the
Meeting.
Nickel 28’s Highly Aligned Board and Management Team is
Driving Value for All Shareholders
The Board and management team of Nickel 28, have acted
deliberately and intentionally in accordance with Nickel 28’s
long-term strategic plan to develop and position the Company to
become a leading battery metals investment vehicle that has:
- Significant exposure to nickel, a metal with increasing
relevance to electric vehicles and energy storage;
- An interest in a low cost open-pit nickel-cobalt mine located
in Papua New Guinea that is generating substantial free cash
flow;
- Significant cash flow leverage to nickel and copper
prices;
- Upside in a portfolio of royalties in highly attractive
nickel-copper projects; and
- Strong and effective leadership driving a plan that is creating
value for all shareholders.
The Board and management team are
significant owners of the Company and focused on delivering value
for all shareholders
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).
Nickel 28’s management information circular and related proxy
materials, provide 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.
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
416-867-2272, 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 13
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, the proceedings commenced by independent counsel to the
Chairman relating to the Notice 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/20230524005930/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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