Nickel 28 Announces Receipt of Management Cease Trade Order IN Response to Voluntary Application
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NEWS RELEASE TSX Venture: NKL
FSE: 3JC0
NICKEL 28 ANNOUNCES RECEIPT OF MANAGEMENT CEASE TRADE
ORDER IN RESPONSE TO VOLUNTARY APPLICATION
TORONTO, ONTARIO, June 3, 2024 — Nickel 28 Capital Corp. (“ Nickel 28” or the “ Company”)
(TSXV: NKL) (FSE: 3JC0) is pleased to announce that, further to its news release dated May 16, 2024,
the Ontario Securities Commission, as principal regulator, has granted the Company a management
cease trade order (“MCTO”) in response to the Company’s voluntary application in respect of its delay
in filing its audited annual financial statements, management ’s discussion and analysis, and related
certifications, all for the year ended January 31, 2024 (collectively, the “Annual Filings”).
“We are pleased to announce receipt of the MCTO from the Ontario Securities Commission in response
to Nickel 28’s voluntary application,” noted Christopher Wallace, Interim Chief Executive Officer of
the Company. “ This MCTO provides the Company with the additional time required to do the work
necessary for preparation and completion of the Annual Filings necessitated by the recently announced
changes in management, and we continue to anticipate that we will be a position to remedy the default
by filing the Required Filings on or before June 30, 2024.”
The MCTO prohibits the Chief Executive Officer, Chief Financial Officer and former Chief Executive
Officer of the Company from trading in the securities of the Company for so long as the Annual filings
are not filed. During this period, the Company has also undertaken not to, directly or indirectly, issue
or acquire securities from an insider or employee of the Company.
The MCTO does not affect the ability of shareholders who are not insiders of the Company to trade
their securities of the Company.
The Company will issue a news release announcing completion of filing of the Annual Filings at such
time as they are completed and filed. Until the Company files the Annual Filings, it will comply with
the alternative information guidelines set out in under National Policy 12- 203 – Cease Trade Orders
for Continuous Disclosure Defaults, including issuing bi- weekly default status reports by way of news
releases, which will be filed on SEDAR+.
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.
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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: forward-looking information relating to the timing and completion of the Annual Filings
and the length of the MCTO. 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. T he 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 a pproved or disapproved of the
contents of this news release.
Investor Relations Contact Information:
Nickel 28 Investor Relations
Attn: Brett A. Richards, Director
Tel: +1 905 449 1500
Email: [email protected]