The history of this company is not black and white. It appears management was stealing from the company. An investment fund Pelham Investment Partners, took a large position late last year and have jettisoned the management. Hard to know what they can do, but based on press releases there was a lot of shenanigans going on. All the is sure, is that Pelham did buy lots of shares a lot higher than today. Last buy in Oct at $0.94 to hold close to 14 million shares...
I am familiar with these issues. I gave notice to the company of a motion for leave to bring a derivative action in the BC Court asking for removal of the President and CEO a certain directors and orders requiring the defendants to repay the company for excess compensation and a reorganization of the board with independent directors. I did not proceed when the new Chair, Ian Ross, assured me that the new board would deal with the issues and they have done precisely that.
Underlying value of the company is (in my opinion) north of $5.00 a share and I own a lot of stock.
Thanks Michael, you are so well informed, I had a position and doubled it a couple of weeks ago with the announcement about the ex pres and share returns. Im hoping Pelham can do what I guess they want to do, surface the value...
The history of this company is not black and white. It appears management was stealing from the company. An investment fund Pelham Investment Partners, took a large position late last year and have jettisoned the management. Hard to know what they can do, but based on press releases there was a lot of shenanigans going on. All the is sure, is that Pelham did buy lots of shares a lot higher than today. Last buy in Oct at $0.94 to hold close to 14 million shares...
Filed 2023-10-10 12:59
Tx date 2023-10-06 $NKL
Nickel 28 Capital Corp. (formerly, Conic Metals Corp.) Pelham Investment Partners
3 - 10% Security Holder of Issuer
Direct Ownership
Common Shares
10 - Acquisition or disposition in the public market $103,774
+110,000 vol
$0.94 each 13,826,478
I am familiar with these issues. I gave notice to the company of a motion for leave to bring a derivative action in the BC Court asking for removal of the President and CEO a certain directors and orders requiring the defendants to repay the company for excess compensation and a reorganization of the board with independent directors. I did not proceed when the new Chair, Ian Ross, assured me that the new board would deal with the issues and they have done precisely that.
Underlying value of the company is (in my opinion) north of $5.00 a share and I own a lot of stock.
Thanks Michael, you are so well informed, I had a position and doubled it a couple of weeks ago with the announcement about the ex pres and share returns. Im hoping Pelham can do what I guess they want to do, surface the value...