Nickel 28 Announces Share Buyback Purchases Under Normal Course Issuer Bid
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NEWS RELEASE TSX Venture: NKL
FSE: 3JC0
NICKEL 28 ANNOUNCES SHARE BUYBACK PURCHASES UNDER
NORMAL COURSE ISSUER BID
TORONTO, ONTARIO, September 10, 2024 — Nickel 28 Capital Corp. (“ Nickel 28 ” or the
“Company”) (TSXV: NKL) (FSE: 3JC0) is pleased to announce that the under the Company’s TSX
Venture Exchange (the “ TSXV”) approved normal course issuer bid ( “NCIB”), it has purchased
129,500 Nickel 28 common shares, for aggregate consideration of C$91,070 up to September 6, 2024,
through its appointed broker Haywood Securities Inc. From August 9, 2024 to September 6, 2024,
inclusive, a total of 359,500 shares have been purchased under the NCIB.
“We are pleased to announce the share buyback of Nickel 28 common shares, up to September 6, 2024,”
stated Christopher Wallace, President & Chief Executive Officer of the Company. “It is still our view
that the best use of capital in this difficult nickel and cobalt price environment, is to lower the share
capital issued and outstanding by utilizing the NCIB, as a n on-going first step to creating shareholder
value in a difficult market” he said.
All common shares purchased by Nickel 28 under the NCIB have been purchased on the open market
through the facilities of the TSXV or alternative Canadian trading systems, in open market transactions
or by such other means as may be permitted under applicable securities laws. The actual number of
common shares which may be purchased, and the timing of such purchases, will be determined by
Nickel 28. Decisions regarding purchases will be based on market conditions, share price, best use of
available cash, and other factors as determined by the Board from time to time. Nickel 28 has
implemented an automatic purchase plan which will allow for the purchase for cancellation of common
shares, subject to certain trading parameters, by Haywood Securities Inc. during times when Nickel 28
would ordinarily not be active in the market due to applicable securities regulatory restrictions or self-
imposed blackout periods. Outside of these periods, the common shares will be repurchased by Nickel
28 at its discretion under the NCIB.
As of September 6, 2024, the Company had 89,842,222 common shares issued and outstanding and the
recent NCIB purchases in this release are not reflected in the above number.
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
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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 s tatements 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 NCIB and related automatic share purchase plan (including
relating to the number of common shares to be repurchased) ; statements with respect to the net asset
value of the Company; and statements with respect to the business and assets of Nickel 28 and its
strategy going forward. 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]