NICKEL 28 RELEASES LETTER TO SHAREHOLDERS AND FILES MEETING MATERIALS FOR THE UPCOMING ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS Nickel 28’ s Highly Aligned Board and Management Team is Driving Value for All Shareholders
NEWS RELEASE TSX VENTURE: NKL
FSE: 3JC0
NICKEL 28 RELEASES LETTER TO SHAREHOLDERS AND FILES
MEETING MATERIALS FOR THE UPCOMING ANNUAL GENERAL
AND SPECIAL MEETING OF SHAREHOLDERS
Nickel 28’ s Highly Aligned Board and Management Team is Driving Value for All Shareholders
Pelham and its Nominee Directors Threaten to Derail Nickel 28’ s Positive Momentum
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 18, 2023 – Nickel 28 Capital Corp. (“ Nickel 28 ” or the
“Company”) (TSXV: NKL) (FSE: 3JC0) announced that it has filed its management information
circular (the “ Circular”) 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).
Nickel 28 has also released a letter to shareholders, that along with the proxy materials, details the
compelling value creation opportunity available to Nickel 28 shareholders under the continued
stewardship of the Company’s five highly qualified nominees for the board of directors (the
“Board”) on the BLUE proxy.
The letter and proxy materials also detail:
▪ The careful positioning of the Company by the Board and management team of Nickel 28 that
has created the premier investment vehicle to benefit from the growth and demand for battery
metals.
▪ Pelham Investment Partners LP ’s (“Pelham”) repeated attempts to take -over Nickel 28, and
the potentially value destructive consequences to shareholders if they prevail in electing their
nominees.
▪ Pelham’s poorly qualified nominees for the Board, and its lack of a track record of value
creation, relevant experience, and a credible plan for Nickel 28.
▪ Nickel 28’s transformational inflection point and the catalysts that can unlock and drive value
for the benefit of ALL shareholders.
A copy of the letter is available at www.ProtectNKL28.com and has been filed on SEDAR.
“The Board and management team of Nickel 28 have worked tirelessly to position and actively
manage the Company’s assets which has brought us to a transformational inflection point. With
Nickel 28 shareholders poised to capture the multi-year upside opportunity in battery metals, it is
unfortunate but not surprising that an opportunistic hedge fund like Pelham has turned up to
attempt to short circuit that value realization,” said Philip Williams, Lead Independent Director of
Nickel 28.
“Our Board and management team collectively own over 21% of our shares, and they are highly
aligned with shareholders. Our significant experience in mining, operations, commodity markets
and sales, geology and mergers and acquisitions, as well as experience managing and preserving
local relationships has been vital to the active management of our Ramu joint venture interest and
our royalty portfolio. Nothing that Pelham has disclosed about itself, or its nominees suggests they
can replace that expertise or experience,” continued Mr. Williams.
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 provides 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. The
Board has selected Maurice Swan, an independent director, to act as Chair of the Meeting and Mr.
Swan has retained independent counsel to advise him in his capacity as Chair with respect to ,
among other things, his review and consideration of the validity of the advance notice nomination
provided by Pelham, which remains ongoing. Shareholders are urged to read the Circular carefully
and in its entirety. The Circular is 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 416-623-
4173, 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 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, anticipated catalysts that
can unlock and drive value for Nickel 28 shareholders, industry trends and growth drivers , the
ongoing review of the advance notice nomination provided by Pelham 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 t he 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]