Funds Managed by Castlelake File an Updated Early Warning Report

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MINNEAPOLIS, Minn., Sept. 10, 2021 /CNW/ - Global alternative investment firm Castlelake, L.P. ("Castlelake"), today announced that it has filed an updated Early Warning Report in respect of Nevada Copper Corp. ("NCU"). Following a series of sales by Castlelake of an aggregate of 37,000,000 NCU Shares (Transactions), Castlelake funds' holdings of NCU Shares decreased by 2.0% on a non-diluted basis and 1.9% on a partially diluted basis.

Prior to the completion of the Transactions, Castlelake funds held (a) 251,692,165 NCU Shares (representing approximately 13.6% of the then current issued and outstanding NCU Shares on a non-diluted basis); and (b) 74,951,426 Warrants (representing, together with the 251,692,165 NCU Shares, approximately 16.9% of the then current issued and outstanding NCU Shares on a partially diluted basis (assuming only the exercise of the Warrants held by the Castlelake funds)).

Upon completion of the Transactions, Castlelake funds hold (a) 214,692,165 NCU Shares (representing approximately 11.6% of the current issued and outstanding NCU Shares on a non-diluted basis); and (b) 74,951,426 Warrants (representing, together with the 214,692,165 NCU Shares, approximately 15.0% of the current issued and outstanding NCU Shares on a partially diluted basis (assuming only the exercise of the Warrants held by the Castlelake funds)).

For further information, please refer to the Early Warning Report filed on SEDAR under the company's profile or please contact Molly Blemker at ([phone]). NCU is a corporation organized under the laws of British Columbia with its head office at Suite 598 - 999 Canada Place Vancouver, BC, V6C 3E1.

About Castlelake

Castlelake, L.P. is a global alternative investment manager focused on opportunistic investments in real assets, specialty finance and aviation. Founded in 2005, Castlelake manages approximately $20 billion of assets on behalf of its investors. The Castlelake team comprises more than 200 experienced professionals, including 89 investment professionals, across six offices in North America, Europe and Asia. For more information, please visit https://www.castlelake.com/.

SOURCE Castlelake

Media Contact: Molly Blemker, [phone] [email protected]