VANCOUVER, British Columbia, Nov. 26, 2024 (GLOBE NEWSWIRE) — NorthWest Copper (“NorthWest” or “the Company”) (TSX-V: NWST) is pleased to announce the appointment of Paul Olmsted as Chief Executive Officer and a member of the Board of Directors, effective immediately. Mr. Olmsted brings over 30 years of experience in the mining industry, with a proven track record in project evaluation, development, financing and strategic leadership.
Prior to joining NorthWest, from 2016 to 2023, Mr. Olmsted was the Chief Financial Officer of Superior Gold Inc., actively involved in the acquisition of an intermediate gold producer, followed by an initial public offering and ultimately leading the company through a business combination sale in 2023. Before Superior Gold, Mr. Olmsted was the Senior Vice President, Corporate Development of IAMGOLD Corporation from 2002-2014, leading the company’s business development activities with total transactions valued at close to C$10 billion. His extensive background in project evaluation and development aligns perfectly with NorthWest Copper’s commitment to advancing its high-quality copper and gold assets in British Columbia.
“We are excited to welcome Mr. Olmsted to the NorthWest team,” said Board Chair, Maryantonett Flumian. “His deep industry knowledge and expertise will be invaluable as we continue to drive forward our strategic initiatives of delivering value through exploration and development. We believe that Mr. Olmsted is the right leader to guide our company in this pivotal time for the industry.”
In his first statement as the incoming CEO, Mr. Olmsted expressed enthusiasm about the Company’s future and project pipeline. “The Kwanika-Stardust and Lorraine-Top Cat projects represent some of the most promising opportunities in British Columbia and globally. I am excited to lead a talented team that is dedicated to unlocking the full potential of these assets. Our focus will be on advancing the core assets of the Company through sustainable development and delivering value for all stakeholders,” he said.
Grant of Stock Options and Restricted Share Units
NorthWest also announces that it has granted 650,000 stock options and 250,000 Restricted Share Units (RSUs) to Mr. Olmsted pursuant to its Equity Incentive Plan.
The stock options have an exercise price of C$0.15, vest over three years and expire after five years.
The RSUs are payable in common shares of the Company on exercise, vest equally over three years and must be redeemed within 30 days of each of November 26, 2025, November 26, 2026 and November 26, 2027, or they expire.
About NorthWest Copper:
NorthWest Copper is a copper-gold explorer with a pipeline of advanced and early-stage projects in British Columbia, including Kwanika-Stardust, Lorraine-Top Cat and East Niv. With a robust portfolio in a tier one jurisdiction, NorthWest Copper is well positioned to participate fully in a strengthening global copper market. We are committed to responsible mineral exploration which involves working collaboratively with First Nations to ensure future development incorporates stewardship best practices and traditional land use. Additional information can be found on the Company’s website at www.northwestcopper.ca .
On Behalf of NorthWest Copper Corp.
“Maryantonett Flumian”
Chair, NorthWest Copper
For further information, please contact:
604-683-7790
info@northwestcopper.ca
