Business
Nickel 28 Announces Further Operational Changes and Cost Cutting Measures
Toronto, Ontario--(Newsfile Corp. - December 2, 2024) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE:...
About this update from Nickel 28 Capital Corp
[{"type":"text","content":"Nickel 28 Announces Further Operational Changes and Cost Cutting MeasuresToronto, Ontario--(Newsfile Corp. - December 2, 2024) - Nickel 28 Capital Corp. (TSXV: NKL) (FSE: 3JC0) (\"Nickel 28\" or the \"Company\") is pleased to provide an update regarding further cost cutting measures and resulting organizational changes. Change to the Executive Management of Nickel 28:Effective December 31st, 2024 Chris Wallace will be stepping down as Chief Executive Officer. Craig Lennon, Chief Financial Officer and Head of Asia Pacific, will be assuming the role of Chief Executive Officer, in addition to his current role of managing the Company's interest in the Ramu Nickel Project.The Company's business is now stabilized and the appropriate controls have been put in place following the termination of the Company's former executives in May 2024. After reviewing the Company's objectives, the Board has concluded that the Company can further streamline its cost structure, resulting in the appointment of Craig Lennon as Chief Executive Officer. Cindy Davis, from Marelli Corporate Services, will fill the role of Chief Financial Officer on an out-sourced basis acting in a fractional capacity.C. Ian Ross, Chairman of Nickel 28's Board had the following to say, \"Chris was appointed to the role of Chief Executive Officer at a time of considerable operational upheaval for the Company, and his mandate was to establish effective control over the Company's operations and finances and insure institutional stability. Chris's tenure has been successful in this regard, and we thank him for his efforts as CEO on behalf of the Company\".Changes to the Board of Directors of Nickel 28:Effective December 31st, 2024, C. Ian Ross, Chairman of the Board of Nickel 28 will be resigning from the Board.The remaining Directors stated: \"Ian joined Nickel 28's Board under incredibly difficult circumstances with a remit of reconstituting the Company's Board following its 2023 Annual General Meeting. Ian was successful in establishing a Board that provided for continuity and accountability and has overseen substantial changes and positive improvements in the Company's governance and operating structure. With the original tasks set in front of him completed, we thank Ian for his leadership and efforts on behalf of the Company and its shareholders and wish him well.\" The Boar...