NICKEL 28 FILES SUPPLEMENT TO CIRCULAR FOR UPCOMING ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS Supplement Highlights Reasons to Vote BLUE Proxy and Provides Additional Information about Nickel 28’ s Highly Aligned Board
NEWS RELEASE TSX VENTURE: NKL
FSE: 3JC0
NICKEL 28 FILES SUPPLEMENT TO CIRCULAR FOR UPCOMING
ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS
Supplement Highlights Reasons to Vote BLUE Proxy and Provides Additional Information about
Nickel 28’ s Highly Aligned Board
Pelham Has No Compelling Case for Change and No Real Plan for Your Investment
Nickel 28 Shareholders Vote Your BLUE Proxy Today!
TORONTO, ONTARIO, May 29, 2023 – Nickel 28 Capital Corp. (“ Nickel 28 ” or the
“Company”) (TSXV: NKL) (FSE: 3JC0) announced that it has filed a supplement (the
“Supplement”) dated May 27, 2023 that modifies and supplements its management information
circular (the “Circular”) dated May 10, 2023 and related proxy materials in connection with its
annual general and special meeting (the “ Meeting”) of shareholders scheduled for June 12, 2023
at 10:00 a.m. (Toronto time).
The Supplement provides additional information about the Company’s five highly qualified
nominees for the board of directors (the “Board”) on the BLUE proxy. In addition, the Supplement
reminds shareholders that the chairman of the Meeting (the “Chairman”), advised by independent
counsel, previously determined that Pelham Investment Partners LP’s (“Pelham”) failed to deliver
a proper notice (the “Notice”) in compliance with the Company’s advance notice provisions under
its articles.
As 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. Pelham is purporting to solicit votes for its nominees
in contravention of the Chairman’s determination that the director nominations contained in the
Notice will not be considered for election to the Board at the Meeting.
While the Chairman remains resolute in his commitmen t to ensuring the Meeting occurs in
accordance with the Company’s articles and applicable laws and has notified Pelham that it will
not be entitled to nominate directors , the Company is reiterating the reasons why shareholders
should vote their shares in f avor of the Company’s nominees in the Supplement in the face of
Pelham’s challenge to the Chairman’s determination.
The Supplement reiterates:
▪ The many important reasons to support Nickel 28’s recommended director nominees on the
BLUE proxy, who have delivered for shareholders and positioned the Company to become a
leading battery metals investment vehicle.
▪ The reasons to withhold your votes from Pelham’s nominees, (if their nominations are
determined to be valid by the Court), including their lack of a plan to run the business and drive
value for shareholders, and the nominees’ lack of the necessary skills, experience and expertise.
V ote 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).
The Circular and the Supplement 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 and Supplement carefully and in their
entirety. The Circular and Supplement are 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 [email protected] 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 Papu a 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, pre-feasibility, 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. Fo rward-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 and the court proceedings
relating to the invalidity of the Notice, including the outcome thereof 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.
Investor Contact:
Justin Cochrane, President
Tel: + 1 289 314 4766
Email: [email protected]
Kingsdale Advisors
Tel: 1-888-518-1557 or 416-867-2272
Email: [email protected]
Media:
Gagnier Communications
Riyaz Lalani & Dan Gagnier
Tel: +1 416 305 1459
Email: [email protected]