TSX Venture Exchange Symbol: NCX
VANCOUVER, BC, Dec. 31, 2020
/CNW/ - Northisle Copper and Gold Inc. (TSXV:
NCX) ("Northisle" or the "Company") is pleased to announce
that all the proposed resolutions at its Annual General Meeting of
Shareholders held on Tuesday, December 29,
2020 were duly passed.
The results for each of the matters voted upon at the meeting
are set out below:
RESOLUTION
|
VOTES
FOR
|
%
FOR
|
VOTES
WITHHELD / AGAINST
|
% WITHHELD /
AGAINST
|
Elect as a
Director:
|
|
|
|
|
Sam
Lee
|
56,897,718
|
97.49%
|
1,465,602
|
2.51%
|
Dale
Corman
|
53,400,174
|
91.50%
|
4,963,146
|
8.50%
|
Larry
Yau
|
57,855,884
|
99.13%
|
507,436
|
0.87%
|
Martino De
Ciccio
|
57,855,884
|
99.13%
|
507,436
|
0.87%
|
Kevin
O'Kane
|
57,877,384
|
99.17%
|
485,936
|
0.83%
|
Number of
Directors
|
56,920,320
|
97.53%
|
1,443,000
|
2.47%
|
Appointment of
Auditors
|
58,422,397
|
100.0%
|
0
|
0.00%
|
Stock Option
Plan
|
56,894,421
|
97.48%
|
1,468,899
|
2.52%
|
Discretionary
Authority
|
45,961,429
|
78.75%
|
12,401,891
|
21.25%
|
Dale Corman, Chairman of
Northisle commented, "I would like to thank Dave Douglas for his contributions to our Board.
Consistent with current governance best practices, Dave opted not
to run for re-election this year but will continue as our CFO where
we are happy to have his continuing support as we enter a new phase
of growth for the Company."
Appointment of Market Maker
Northisle is also pleased
to announce that it has retained PI Financial Corp. ("PI") to
provide market making services in accordance with TSX Venture
Exchange ("TSX-V") policies.
PI will trade the securities of Northisle on the TSX-V for the
purposes of maintaining an orderly market. In consideration
of the services provided by PI, the Company will pay PI a monthly
cash fee of $4,000 for a minimum term
of three months, commencing January 1,
2021, and renewable thereafter. Northisle and PI are
unrelated and unaffiliated entities. PI will not receive
shares or options as compensation. The capital used for
market making will be provided by PI.
Issuance of Stock Options
Northisle also announced
today the issuance of 1,390,000 stock options (the "Options") to
purchase an aggregate of 1,390,000 shares of the Company at an
exercise price of $0.28 per share,
which is the closing price for the Company's shares on the TSX-V as
of December 30, 2020. The options
have a 5 year term and vest one third per year commencing on
December 29, 2020.
About Northisle
Northisle Copper and Gold Inc. is a
Vancouver based company whose
mission is to become a leading sustainable mineral resource company
for the future. Northisle owns the North Island Project,
which is one of the most promising copper and gold porphyry
deposits in Canada. The North
Island Project is located near Port
Hardy, British Columbia on a 33,149-hectare block of mineral
titles 100% owned by Northisle stretching 50 kilometres northwest
from the now closed Island Copper Mine operated by BHP Billiton.
The Company is completing a preliminary economic assessment which
will provide an updated view on the potential of the Red Dog and
Hushamu deposits and is targeted for completion in Q1 2021.
For more information on Northisle please visit the
Company's website at www.northisle.ca.
On behalf of Northisle Copper and Gold Inc.
Nicholas Van Dyk, CFA
Vice President, Corporate Development and Investor Relations
Tel: (778) 655-9582
Email: info@northisle.ca
www.northisle.ca
This news release does not constitute an offer to sell or a
solicitation of an offer to buy any of the securities in
the United States. The securities
have not been and will not be registered under the United States
Securities Act of 1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within
the United States or to U.S.
Persons unless registered under the U.S. Securities Act and
applicable state securities laws or an exemption from such
registration is available.
Cautionary Statements regarding Forward-Looking
Information
Certain information in this news release
constitutes forward-looking statements under applicable securities
law. Any statements that are contained in this news release that
are not statements of historical fact may be deemed to be
forward-looking statements. Forward-looking statements are often
identified by terms such as "may", "should", "anticipate",
"expect", "intend" and similar expressions. Forward-looking
statements in this news release include, but are not limited to,
the Company's plans for advancement of the North Island Project,
including the potential use of existing infrastructure,
expectations regarding the 2021 drill program; the Company's plans
for engagement with Indigenous nations, communities and key
stakeholders, and the Company's anticipated exploration activities.
Forward-looking statements necessarily involve known and unknown
risks, including, without limitation, Northisle's ability to
implement its business strategies; risks associated with mineral
exploration and production; risks associated with general economic
conditions; adverse industry events; stakeholder engagement;
marketing and transportation costs; loss of markets; volatility of
commodity prices; inability to access sufficient capital from
internal and external sources, and/or inability to access
sufficient capital on favourable terms; industry and government
regulation; changes in legislation, income tax and regulatory
matters; competition; currency and interest rate fluctuations; and
other risks. Readers are cautioned that the foregoing list is not
exhaustive.
Readers are further cautioned not to place undue reliance on
forward-looking statements as there can be no assurance that the
plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement.
The forward-looking statements contained in this news release
represent the expectations of management of Northisle as of the
date of this news release, and, accordingly, are subject to change
after such date. Northisle does not undertake any obligation to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise, except as
expressly required by applicable securities law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
SOURCE NorthIsle Copper and Gold Inc.