TSX Venture Exchange Symbol: NCX
VANCOUVER, BC, Nov. 5, 2020
/CNW/ - 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.
About Northisle
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.
Sam Lee
President and CEO
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, 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.
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SOURCE NorthIsle Copper and Gold Inc.