TSX Venture Exchange Symbol: NCX
VANCOUVER, BC, Nov. 5, 2020 /PRNewswire/ -- Northisle Copper and Gold Inc. (TSXV: NCX) ("Northisle" or the "Company") is pleased to announce the appointment of Kevin O'Kane as an independent non-executive director, effective immediately.
Commenting on the appointment, Dale Corman, Chairman of the Board of Directors, said: "The Board of Northisle is pleased to welcome Kevin as he adds strong technical, operational, social, and environmental expertise. Moreover, his long tenure at BHP Billiton, working at the Island Copper Mine situated adjacent to Northisle's project, will be an invaluable asset as we progress towards developing our attractive North Island Project to a production decision. As Kevin is recognized globally as a leader, mine developer and operator of world-class deposits, his appointment reaffirms the high quality and potential of our project."
Mr. O'Kane has nearly 40 years of extensive business and operating leadership expertise in the natural resource industry. He spent 37 years at BHP Billiton developing, expanding, and operating some of the most formative copper mines in the world which included Spence, Cerro Colorado and Minera Escondida. Mr. O'Kane started his career at the Island Copper Mine situated adjacent to Northisle's project, and spent the following 12 years progressing to the role of Chief Mining Engineer. During his tenure at BHP Billiton he also served as Vice President Health, Safety, Environment and Community for the Copper Business. Most recently, Mr. O'Kane held the position of Executive Vice-President and Chief Operating Officer at SSR Mining Inc, where he led all aspects of its operations, permitting, and sustainability programs globally while achieving record production at all three of its producing mines. Mr. O'Kane currently serves on the board of SolGold Plc.
The Company also announces that John McClintock, previous CEO of Northisle and current Vice President of Exploration, has stepped down from Northisle's Board effective November 4, 2020 and will be replaced by Sam Lee, President and CEO of Northisle, pursuant to the change in management announcement dated October 5, 2020.
In light of Northisle's strategy of aggressively pursuing the development of its North Island Project, it intends to further augment its Board with relevant expertise.
The Board has approved the granting of stock options to Mr. O'Kane for the purchase of 500,000 common shares of the Company. The options will vest one-third per year over a three-year period starting immediately. These options have a five-year term and allow the holder to purchase one common share of the company for $0.175 a share until November 4, 2025.
NorthIsle Copper and Gold Inc. is a Vancouver based company whose mission is to become a leading and 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 Project boasts a large resource base that serves as the basis for the Preliminary Economic Study issued in 2017.
For more information on Northisle please visit the Company's website at www.Northisle.ca.
On behalf of Northisle Copper and Gold Inc.
President and CEO
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, statements relating to anticipated use of proceeds from the Placement. 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; 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.
Contact: Sam Lee, President & CEO, email@example.com