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NorthWest Copper Announces BC Securities Commission Hearing on Allegations that Activist Group Violated Securities Laws
For voting assistance or information, shareholders can contact Kingsdale Advisors, at 1-888-518-1565 (toll-free in North America), 1-647-251-9704 (collect call
About this update from Northwest Copper Corp.
[{"type":"text","content":" For voting assistance or information, shareholders can contact Kingsdale Advisors, at 1-888-518-1565 (toll-free in North America), 1-647-251-9704 (collect call outside North America), email [email protected], or visit www.ProtectNWST.com VANCOUVER, British Columbia, Aug. 31, 2023 (GLOBE NEWSWIRE) -- NorthWest Copper Corp. (\"NorthWest\" or the \"Company\") (TSXV:NWST) (OTCQX: NWCCF) today announced that the British Columbia Securities Commission (“BCSC”) has scheduled a two-day hearing starting on September 12, 2023 regarding NorthWest’s previously-disclosed application alleging that Grant Sawiak, John Kimmel and Tony Ianno (the “Activist Group”) failed to make disclosures required by securities laws. The full text of NorthWest’s application, posted to the BCSC website, is available here. The Company is considering the implications of the timing for the hearing on the meeting and proxy cut-off dates and anticipates a short postponement of the upcoming annual meeting of the Company’s shareholders (the “Meeting”) in order to permit shareholders to take into account the outcome of the hearing when voting. Alleged Concealment of Joint Actor Status NorthWest’s application to the BCSC is for relief related to the alleged actions of the Activist Group. The application alleges, among other things, that the Activist Group potentially failed to properly disclose joint actor status in connection with this year’s Meeting. NorthWest also believes the Activist Group might attempt a no-premium take-private plan if its nominees were elected. The Company believes that the Activist Group is acting to serve its own interests at the cost of all other shareholders and poses a threat to the value of shareholders’ investment in NorthWest. Failure to disclose joint actor relationships may deprive shareholders of information required to make the right decision about their investment. Shareholders are entitled to know the Activist Group’s true motives behind its efforts to install a new slate of directors. NorthWest’s Board is Best Positioned to Guide the Company NorthWest’s capable Board is in the best position to guide the Company’s future growth potential. Despite the unnecessary cost of this proxy fight, NorthWest’s focus remains on its core business. The credentials, or lack thereof, of the Activist Group’s nominees are detailed in th...