Nevada Copper Announces Special Shareholder Meeting Results

Rhea-AI Summary

Nevada Copper Corp. announced the overwhelming approval of its Warrant Exercise Resolution during a Special Meeting of shareholders held on January 25, 2022. Approximately 99% of disinterested shareholders supported the resolution to exercise 15,000,000 common share purchase warrants issued to the company’s largest shareholder, Pala Investments Limited. The voting results indicated broad support, with 98.93% voting in favor and only 1.07% against. The exercise of these warrants is seen as a positive step in strengthening the company's financial position as it progresses with its Pumpkin Hollow copper project.

Positive

• 99% approval for Warrant Exercise Resolution by disinterested shareholders
• Strengthens financial position by enabling exercise of 15 million warrants
• Broad shareholder support with 98.93% voting in favor

Negative

• None.

YERINGTON, Nev., Jan. 25, 2022 (GLOBE NEWSWIRE) -- Nevada Copper Corp. (TSX: NCU) (OTC: NEVDF) (FSE: ZYTA) (“Nevada Copper” or “Company”) is pleased to announce the results from its Special Meeting of shareholders (the “Meeting”) that was held today. The Warrant Exercise Resolution (as defined below), the only item of business at the Meeting, was overwhelmingly approved by disinterested shareholders of the Company. Strong shareholder support for the Warrant Exercise Resolution was evidenced by approximately 99% of the disinterested shareholders who voted at the Meeting voting in favour of the Warrant Exercise Resolution.

Voting Details

At the Meeting, the disinterested shareholders of the Company, being all shareholders of the Company excluding Pala Investments Limited (“Pala”), the Company’s largest shareholder, and Pala’s associates and affiliates, approved an ordinary resolution authorizing (i) the exercise of 15,000,000 common share purchase warrants (the “Credit Facility Warrants”) that were issued to Pala on November 30, 2021 in connection with the amendment and restatement of the credit facility provided by Pala to the Company; and (ii) if some or all of the Credit Facility Warrants are exercised, the resulting issuance by the Company of common shares to Pala pursuant to the terms of the Credit Facility Warrants (the “Warrant Exercise Resolution”). The results of voting on the Warrant Exercise Resolution are provided below:

Votes For	% Votes For	Votes Against	% Votes Against
117,875,484	98.93%	1,275,978	1.07%

About Nevada Copper

Nevada Copper (TSX: NCU) is a copper producer and owner of the Pumpkin Hollow copper project. Located in Nevada, USA, Pumpkin Hollow has substantial reserves and resources including copper, gold and silver. Its two fully permitted projects include the high-grade underground mine and processing facility, which is now in the production stage, and a large-scale open pit project, which is advancing towards feasibility status.

NEVADA COPPER CORP.
www.nevadacopper.com

Randy Buffington, President and CEO

For further information contact:
Rich Matthews, Investor Relations
Integrous Communications
rmatthews@integcom.us
+1 604 757 7179

FAQ

What was the result of Nevada Copper's Special Meeting on January 25, 2022?

Nevada Copper's Special Meeting resulted in overwhelming approval of the Warrant Exercise Resolution by approximately 99% of disinterested shareholders.

How many warrants were exercised in the Warrant Exercise Resolution?

The Warrant Exercise Resolution authorized the exercise of 15,000,000 common share purchase warrants.

What percentage of votes supported the Warrant Exercise Resolution?

The Warrant Exercise Resolution received 98.93% of votes in favor.

Who was excluded from voting in the Special Meeting?

Pala Investments Limited and its associates were excluded from voting as they are the largest shareholder.

What is the significance of the Warrant Exercise Resolution for Nevada Copper?

The resolution allows the company to strengthen its financial position through the exercise of warrants, supporting its Pumpkin Hollow copper project.