Nickel 28 fires founders on ‘serious misconduct’ that they deny – by Jacob Lorinc (Bloomberg News – May 6, 2024)

Nickel 28 Capital Corp. said it has fired its founders, including chief executive officer Anthony Milewski, after an investigation uncovered “serious misconduct” — claims the ousted management team says are untrue and part of a years-long battle for control at the Canadian mining firm.

The nickel and cobalt producer removed Milewski, along with president Justin Cochrane and chief financial officer Conor Kearns, with immediate effect, it said Monday, after the board reviewed findings made by an independent special committee. The investigation found evidence the management team had breached their duties and repeatedly lacked judgment, the board said.

Milewski, Cochrane and Kearns denied the allegations in a separate statement and said they believe their terminations are tied to a fight for control led by top shareholder Pelham Investment Partners LP, a New York-based hedge fund. Pelham didn’t immediately reply to a request for comment.

For the rest of this article: