NorthWest Copper Announces AGM to be Held on September 6, 2023
VANCOUVER, May 29, 2023 - Northwest Copper Corp. ("NorthWest" or the "Company") (TSX-V: NWST) (OTCQX: NWCCF) today announced that it has postponed its annual general meeting ("AGM") which was originally scheduled for June 23, 2023. The AGM will now take place on September 6, 2023. The specific time and location of the AGM are not yet determined but will be announced when the Company files its management information circular and related proxy materials in connection with the AGM.
NorthWest has decided that it is in the best interests of the Company and its shareholders to postpone the AGM as the Company believes it will allow for the appropriate consideration of the preliminary disclosures made on May 23, 2023 by a dissident shareholder who intends to propose a competing slate of six nominees for the Company's board of directors.
The postponement of the AGM will provide additional time for, among other things:
- a detailed review of the purported experience and qualifications of the dissident's nominees;
- the preparation of a management information circular that will fully inform shareholders about the important voting decision they face; and
- a determination by the Board as to whether there might be an opportunity to have further discussions with the dissident that avoids the distraction and expense of a proxy contest.
NorthWest takes seriously its role in shareholder engagement and corporate governance and believes that the current strategy and leadership provides the best path to success.
Advisors
Northwest Copper has retained Norton Rose Fulbright Canada LLP as legal counsel, Kingsdale Advisors as strategic shareholder advisor, and Longview Communications and Public Affairs as communications advisor.
About NorthWest Copper:
NorthWest Copper is a new copper-gold explorer and developer with an exciting pipeline of projects in British Columbia. With a robust portfolio in a tier one jurisdiction, NorthWest Copper is well positioned to participate fully in a strengthening global copper market. We are committed to responsible mineral exploration which involves working collaboratively with First Nations to ensure future development incorporates stewardship best practices and respects traditional land use. Additional information can be found on the Company's website at www.northwestcopper.ca.
On Behalf of the Board of Directors of Northwest Copper Corp.
"Mark O'Dea"
Chair, Director
For further information, please contact:
Investor contact:
Peter Lekich, Director Investor Relations
Tel: 604-697-4962
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 forward-looking statements and information within the meaning of applicable securities law, including but not limited to statements regarding the date of the postponed AGM and matters related thereto. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. All statements, other than statements of historical fact, included herein, constitutes forward-looking information. Although NorthWest believes that the expectations reflected in such forward-looking information and/or information are reasonable, undue reliance should not be placed on forward-looking information since NorthWest can give no assurance that such expectations will prove to be correct. 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 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.sedar.com). 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.