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Nickel 28 Capital Cautions Shareholders to Take No Action in Response to Significantly Undervalued, Highly Conditional and Predatory Mini-tender Offer
New York based hedge fund makes significantly undervalued “mini-tender” offer that seeks to strip shareholders of the true value of their investment ahead of a
About this update from Nickel 28 Capital Corp
[{"type":"text","content":" New York based hedge fund makes significantly undervalued “mini-tender” offer that seeks to strip shareholders of the true value of their investment ahead of a key inflection point for the Company. Opportunistic tactic being made for the purpose of acquiring shares to influence a self-serving agenda. Shareholders are advised to TAKE NO ACTION and NOT tender to this coercive and predatory offer far below their investment’s future value. TORONTO / Mar 22, 2023 / Business Wire / Nickel 28 Capital Corp. (“Nickel 28” or the “Company”) (TSXV: NKL) (FSE: 3JC0) today issued the following statement in response to a shareholder’s renewed effort to build a significant position at the expense of other shareholders’ interests through a significantly undervalued mini-tender offer. Nickel 28 urges its shareholders to take no action in response to this shareholder’s “mini-tender” at this time, and not to tender their shares and give away their voting rights to this New York-based hedge fund. Management and the board of directors (the “Board”) will continue to defend shareholder value and protect shareholders against other opportunistic or coercive actions that would harm shareholder interests. Shareholders are cautioned that the press release accompanying the shareholder’s “mini-tender” offer appears to contain a number of incomplete and misleading statements and should be viewed with significant caution and skepticism. “At a time when the global investment community is focused on seeking exposure to battery metals as part of the adoption of electric vehicles and the pursuit of a low carbon future, Nickel 28 shareholders are uniquely positioned having a joint venture interest in a high quality, long life producing nickel mine,” stated Anthony Milewski, Chairman of Nickel 28. “Moreover, shareholders’ exposure to ongoing cash flows and return of capital will increase as the Ramu mine continues to pay down debt and pay dividends to its stakeholders. We believe that the strategic value of your shares will continue to grow, with significant re-rating potential for the shares.” The Board is reviewing the shareholder’s documents together with its professional and legal advisors and will respond in detail shortly. Shareholders who have already tendered their shares can withdraw them at any time. Call Kingsdale Advisors toll-free on 1-888-518-1557 or e...