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NorthWest Copper Announces Support for the Company’s Board Nominees From Leading Proxy Advisory Firm ISS
Northwest Also Provides Update on AGM Date and Discloses Equity Compensation for NorthWest’s Chair Advises that Activist Group Unsuccessfully Attempted to Recru
About this update from Northwest Copper Corp.
[{"type":"text","content":" Northwest Also Provides Update on AGM Date and Discloses Equity Compensation for NorthWest’s Chair Advises that Activist Group Unsuccessfully Attempted to Recruit NorthWest’s Chair and NorthWest’s Interim CEO 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, Sept. 07, 2023 (GLOBE NEWSWIRE) -- NorthWest Copper Corp. (\"NorthWest\" or the \"Company\") (TSXV:NWST) ) (OTCQX: NWCCF) today announced that it has received unequivocal support for NorthWest’s slate of seven director nominees on the BLUE proxy from the proxy advisor Institutional Shareholder Services Inc. (“ISS”). The Company thanks its shareholders for the strong voting support that the incumbent directors have received so far. NorthWest also provided an update on the timing for the Annual General Meeting of the Company’s shareholders (the \"Meeting\") and disclosed an equity compensation grant for its recently-appointed Chair, Terry Lyons. Further, NorthWest advised that the activist group (the “Activist Group”) unsuccessfully attempted to recruit NorthWest’s Chair and NorthWest’s Interim President and CEO. Both will resign if the Activist Group’s slate of nominees is elected. ISS Recommends that Shareholders vote FOR the Incumbent Board and all Management Proposals ISS, which is recognized as a leading independent proxy voting and corporate governance advisory firm in both Canada and the United States, recommends that shareholders vote FOR the incumbent Board and all Management Proposals. In a detailed, 21-page report, ISS concludes that the Activist Group “has not made a compelling case that board change is necessary at this time.” Among other things, ISS noted that: “The members of the incumbent board and management have an established track record of completing equity financings and have held executive and board roles at minerals companies much larger than NWST.” The Activist Group’s nominees, “whether considered collectively or individually, do not appear to provide skills or experience that would augment the incumbent board or fill a skills deficiency” “Measured & Indicated and Inferred resources have both grown significantly since t...