NorthWest Copper Announces That a Second Leading Proxy Advisor Recommends Full Support for the Company’s Board Nominees
- Glass Lewis says shareholders should "refrain from supporting the Dissident nominees" consistent with ISS's previous comments which said the activist nominees "do not appear to provide skills or experience that would augment the incumbent board"
- Don't Delay! Deadline is fast approaching. Your vote on the Blue proxy is important to protect your investment in NorthWest
- 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 contactus@kingsdaleadvisors.com, or visit www.ProtectNWST.com
VANCOUVER, British Columbia, Sept. 12, 2023 -- Northwest Copper Corp. ("NorthWest" or the "Company") (TSXV:NWST) (OTCQX: NWCCF) today announced that it has received full support for NorthWest's slate of seven director nominees on the BLUE proxy from a second leading proxy advisor, Glass Lewis & Co., LLC ("Glass Lewis"). This follows a previously disclosed supporting recommendation from Institutional Shareholder Services Inc. ("ISS").
Glass Lewis has more than 1,300 clients, including the majority of the world's largest pension plans, mutual funds and asset managers, who collectively manage more than $40 trillion in assets. In a detailed, 16-page report, based on a review of both sides, Glass Lewis recommended that its subscribers vote FOR the incumbent Board and all management proposals.
Among other things, Glass Lewis stated: "…we do not believe the Dissident has sufficiently justified the election of his nominees and find inadequate cause to conclude the Dissident candidates are better suited to serve on the Company's board, particularly given what we consider to be a fairly limited alternative plan for NWST. Given these considerations, we believe shareholders should refrain from supporting the Dissident nominees at this time."
As previously announced, ISS in its report, stated, "The members of the incumbent board and management have an established track record of completing equity financings and have held executive and board roles at minerals companies much larger than NWST."
ISS also stated, "Measured & Indicated and Inferred resources have both grown significantly since the merger between Sun Metals Corp. and Serengeti Resources Inc. on March 5, 2021. The company's post-merger total shareholder return results do not seem to suggest a clear and present need for change when considering the level of underperformance versus the company's operational results, taken together with the volatility and liquidity issues inherent to junior minerals issuers".
Vote BLUE! Every Vote Counts
NorthWest urges shareholders to vote the BLUE proxy as recommended by both Glass Lewis and ISS. The Company again thanks shareholders for the strong support already received from those who have already voted FOR NorthWest's seven Director nominees, all of whom are shareholders. 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:
- Registered shareholders: https://login.odysseytrust.com/pxlogin
- 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 contactus@kingsdaleadvisors.com or visit www.ProtectNWST.com for more information.
Vote BLUE To Protect Your Investment in NorthWest.
On Behalf of the Board of Directors of Northwest Copper Corp.
"David Moore"
Interim President and CEO
For further information, please contact:
Investor contact:
Peter Lekich, Director Investor Relations
Tel: 604-683-7790
Email: plekich@northwestcopper.ca
Media contact:
Longview Communications and Public Affairs
Alan Bayless (604) 417-9645; abayless@longviewcomms.ca
Joel Shaffer: (416) 649-8006; jshaffer@longviewcomms.ca
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.
