16:02:57 EDT Sun 21 Apr 2024
Enter Symbol
or Name

Northwest Copper Corp
Symbol NWST
Shares Issued 190,177,280
Close 2023-09-11 C$ 0.17
Market Cap C$ 32,330,138
Recent Sedar Documents

Northwest Copper receives Glass Lewis nod for nominees

2023-09-12 10:58 ET - News Release

Mr. David Moore reports


Northwest Copper Corp. has received full support for Northwest's slate of seven director nominees on the blue proxy from a second leading proxy adviser, Glass Lewis & Co. LLC. This follows a previously disclosed supporting recommendation from Institutional Shareholder Services Inc. (ISS).

Glass Lewis has more than 1,300 clients, including the majority of the world's largest pension plans, mutual funds and asset managers, who collectively manage more than $40 trillion in assets. In a detailed, 16-page report, based on a review of both sides, Glass Lewis recommended that its subscribers vote FOR the incumbent Board and all management proposals.

Among other things, Glass Lewis stated: "...we do not believe the Dissident has sufficiently justified the election of his nominees and find inadequate cause to conclude the Dissident candidates are better suited to serve on the Company's board, particularly given what we consider to be a fairly limited alternative plan for NWST. Given these considerations, we believe shareholders should refrain from supporting the Dissident nominees at this time."

As previously announced, ISS in its report, stated, "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."

ISS also stated, "Measured & Indicated and Inferred resources have both grown significantly since the merger between Sun Metals Corp. and Serengeti Resources Inc. on March 5, 2021. The company's post-merger total shareholder return results do not seem to suggest a clear and present need for change when considering the level of underperformance versus the company's operational results, taken together with the volatility and liquidity issues inherent to junior minerals issuers".

Vote BLUE ! Every Vote Counts

Northwest urges shareholders to vote the BLUE proxy as recommended by both Glass Lewis and ISS. The Company again thanks shareholders for the strong support already received from those who have already voted FOR Northwest's seven Director nominees, all of whom are shareholders. Vote FOR Northwest's refreshed Board, its strengthened executive team, and its strategic action plan designed to advance Northwest's mineral assets without delay.

Instructions To Vote BLUE

Every vote is important. Even if you have never voted before and no matter how many shares you own, becoming a voter is fast and easy. Here's how:

To Vote FOR, vote the BLUE proxy. Follow the instructions on the BLUE proxy or VIF.

Vote online:

Registered shareholders: https://login.odysseytrust.com/pxlogin

Non-registered shareholders: www.proxyvote.com

Northwest shareholders can contact Kingsdale Advisors by calling 1-888-518-1565 (toll-free in North America), calling or texting 1-647-251-9704 (collect call outside North America) or by email at contactus@kingsdaleadvisors.com or visit www.ProtectNWST.com for more information.

Vote BLUE To Protect Your Investment in Northwest.

We seek Safe Harbor.

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