NorthWest Copper Provides Update on BC Securities Commission Application Regarding Self-Interested Activists
- Continues to urge shareholders to vote on the BLUE proxy for NorthWest’s incumbent Board of seven directors at the upcoming annual meeting of the Company’s shareholders, as recommended by the two leading independent North American proxy advisors, Institutional Shareholder Services Inc. and Glass Lewis & Co., LLC.
- For voting assistance or information, shareholders can contact Kingsdale Advisors, at 1-888-518-1565 (toll-free in North America), 1-647-251-9704 (collect call outside North America), email [email protected], or visit www.ProtectNWST.com
VANCOUVER, British Columbia, Sept. 15, 2023 (GLOBE NEWSWIRE) — NorthWest Copper Corp. (“NorthWest” or the “Company“) (TSXV:NWST) (OTCQX:NWCCF) today announced that the British Columbia Securities Commission (“BCSC”) has dismissed the Company’s application regarding the conduct of an activist group (the “Activist Group”). NorthWest made the application to try to ensure that shareholders had full access to information about the Activist Group and their alleged joint-actor conduct. NorthWest is disappointed by the decision, and still believes that the Activist Group’s disclosure was inadequate and misleading. While the application may have been dismissed, the behaviour of the Activist Group nonetheless remains very concerning to the Company and its shareholders and in fact may threaten their investment.
The Company again thanks shareholders for the strong support it has received already and shareholder’s continued rejection of the Activist Group’s self-interested agenda, lack of a plan and inferior nominees. Many shareholders have indicated that they intend to vote FOR NorthWest’s seven Director nominees. However, we urge all shareholders to vote their BLUE proxy without delay for NorthWest’s incumbent Board at the upcoming annual meeting of the Company’s shareholders (the “Meeting”). NorthWest’s Board consists of seven highly capable and experienced directors. Over the last 12 months, NorthWest has refreshed both the Board and management team to guide the Company’s future growth. As previously disclosed, the incumbent Board has also been supported by the two leading independent North American proxy advisors, Institutional Shareholder Services Inc. (“ISS”) and Glass Lewis & Co., LLC. (“Glass Lewis”).
The proxy voting deadline is 10:00 a.m. (Vancouver time) on September 22, 2023 or, if the Meeting is adjourned or postponed, 48 hours (excluding Saturdays, Sundays or statutory holidays in British Columbia) prior to the time and date to which the Meeting is adjourned or postponed. The Meeting is scheduled for September 26, 2023 at the offices of Cassels, Brock & Blackwell LLP, Suite 2200, HSBC Building, 885 West Georgia Street, Vancouver, BC, V6C 3E8.
Vote BLUE! Every Vote Counts
NorthWest urges shareholders to vote the BLUE proxy as recommended by both ISS and Glass Lewis. Shareholders are urged to carefully review the Company’s Letter to Shareholders and Circular, which can be found on www.ProtectNWST.com as well as on SEDAR+ (www.sedarplus.ca) and on the Company’s website (www.northwestcopper.ca).
Vote FOR NorthWest’s refreshed Board, its strengthened executive team, and its strategic action plan designed to advance NorthWest’s mineral assets without delay.
Instructions To Vote BLUE
Every vote is important. Even if you have never voted before and no matter how many shares you own, becoming a voter is fast and easy. Here’s how:
- To Vote FOR, vote the BLUE proxy. Follow the instructions on the BLUE proxy or VIF.
- Vote online:
a. Registered shareholders: https://login.odysseytrust.com/pxlogin
b. Non-registered shareholders: www.proxyvote.com
NorthWest shareholders can contact Kingsdale Advisors by calling 1-888-518-1565 (toll-free in North America), calling or texting 1-647-251-9704 (collect call outside North America) or by email at [email protected] or visit www.ProtectNWST.com for more information.
Vote BLUE To Protect Your Investment in NorthWest.
For further information, please contact:
Peter Lekich, Director Investor Relations
Email: [email protected]
Neither 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.
Cautionary Statement Regarding Forward-Looking Information
This news release contains certain forward-looking statements, including, but not limited to, statements with respect to: the plans and intentions of the activist group of shareholders; and the plans and intentions of the Company. Wherever possible, words such as “may”, “will”, “should”, “could”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “estimate”, “predict” or “potential” or the negative or other variations of these words, or similar words or phrases, have been used to identify these forward-looking statements. These statements reflect management’s current beliefs and are based on information currently available to management as at the date hereof.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information, including the risks, uncertainties and other factors identified in NorthWest’s periodic filings with Canadian securities regulators. Forward-looking information are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking information. Important factors that could cause actual results to differ materially from NorthWest’s expectations include risks associated with the business of NorthWest; risks related to a change in the current Board or management of the Company; risks related to reliance on technical information provided by NorthWest; risks related to exploration and potential development of the Company’s mineral properties; business and economic conditions in the mining industry generally; fluctuations in commodity prices and currency exchange rates; uncertainties relating to interpretation of drill results and the geology, continuity and grade of mineral deposits; the need for cooperation of government agencies and First Nation groups in the exploration and development of properties and the issuance of required permits; the need to obtain additional financing to develop properties and uncertainty as to the availability and terms of future financing; the possibility of delay in exploration or development programs and uncertainty of meeting anticipated program milestones; uncertainty as to timely availability of permits and other governmental approvals; and other risk factors as detailed from time to time and additional risks identified in NorthWest’s filings with Canadian securities regulators on SEDAR+ in Canada (available at www.sedarplus.ca). Forward-looking information is based on estimates and opinions of management at the date the information are made. NorthWest does not undertake any obligation to update forward-looking information except as required by applicable securities laws. Investors should not place undue reliance on forward-looking information.