December 31, 2020 View PDF
Vancouver, B.C. – Northisle Copper and Gold Inc. (TSX-V: 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.
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.
This news release contains forward-looking statements. These forward-looking statements are based upon the reasonable beliefs of Northisle and its management as of the date of this news release; however, forward-looking statements involve risks and uncertainties and are based upon factors that may change and assumptions that may prove, with the passage of time, to be incorrect as a result of exploration and other risk factors associated with mineral exploration and development that are beyond the control of Northisle. Accordingly, undue reliance should not be placed upon such statements. If factors materially change or assumptions are materially incorrect, the actual results, performance or achievements of Northisle may be materially different from any future results, performances or achievements expressed or implied by such forward-looking statements. Northisle does not undertake any obligation to update or revise any forward-looking statements to reflect new information, future events or otherwise, except as required by applicable law.