World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE:7LY0) (“World Copper” or the “Company”) on March 8, 2023, March 30, 2023 According to the news release, we are reporting: , 2023 and on April 20, 2023, the Company completed its financing, issuing a total of 11,306,667 Units, raising a total of $2,035,200.06.
On April 27, 2023, the Company closed its second and final tranche of funding, issuing 3,332,323 Units to raise a total of $599,817.94. Each unit consists of one share of common stock (“Share”) and one half of one common stock purchase warrant (“Warrant”). For each Whole Warrant, the holder may acquire one additional share of the Company for a period of two years from the date of issuance at $0.30 per share.
There was no insider participation in the closing of the final tranche. Insider participation in the first tranche included Director and Chairman Hendrik van Alphen on his 1,125,000 units and Nolan Peterson, CEO and President on his 100,000 units. These transactions constitute “related party transactions” as defined in Multilateral Document 61-101 – Protection of Minority Shareholders in Special Transactions (“MI 61-101”). The Company relies on exemption from formal valuation and minority shareholder approval requirements under MI 61-101. We are exempt from the formal evaluation and minority shareholder approval requirements of MI 61-101 in reliance on Sections 5.5(a) and 5.7(1). )(a) (a) of MI 61-101 as the fair market value of the transaction shall not exceed 25% of the Company’s market capitalization, so far as the interested party is concerned.
A finder fee for the second tranche was paid to Canaccord Genuity Corp. ($756.00 and 4,200 finder warrants). All finder warrants issued pursuant to placement are non-transferable and exercisable for two years from closing he is $0.30.
All securities issued in the offering have a holding period of 4 months and 1 day, during which the securities cannot be traded. Closing of the offering is subject to final acceptance of TSXV.
Net proceeds from offerings cover general working capital and development costs.
This press release does not constitute an offer to sell the aforementioned securities in the United States. None of the foregoing securities have been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or applicable state securities laws. for the account or interest of a United States Person (as defined in Regulation S under the Act of 1933) or a person in the United States without registration or an applicable exemption from such registration requirements; This press release does not constitute an offer to sell or the solicitation of an offer to buy, and no sale of the foregoing securities will take place in any jurisdiction where such offer, solicitation or sale would be unlawful.
About World Copper
Headquartered in Vancouver, British Columbia, World Copper Ltd. is a Canadian resources company focused on the exploration and development of copper porphyry projects in Escalones and Cristal, Chile, and Zonia, Arizona. Two of these projects have inferred resources with significant soluble copper mineralization, and each have additional copper porphyry targets with exciting potential to expand the resource base.
More information is available on the World Copper website (www.worldcopperltd.com). For general company updates, follow our social media pages: Facebook, twitter & LinkedIn.
On behalf of the Board of Directors
World Copper Co., Ltd.
“Nolan Peterson”
Nolan Peterson
Chief Executive Officer and President
For more information or to schedule a Zoom meeting with management, please contact:
Nolan Peterson or Michael Pound
Phone: 604-638-3287
Email: info@worldcopperltd.com
For all IR-related inquiries, please contact the following.
John Rebiakis
Liviakis Financial Communications Co., Ltd.
Phone: 415-389-4670
For all public relations inquiries, please contact:
Nancy Thompson
Volticom Inc.
Office: 212-532-2208 | Mobile: 917-371-4053
follow us:
twitter: https://twitter.com/WorldCopper Ltd
Facebook: https://www.facebook.com/WorldCopper Ltd
LinkedIn: https://www.linkedin.com/company/worldcopperltd
Neither TSXV nor its regulated service providers (as those terms are defined in TSXV’s policy) are responsible for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable Canadian and U.S. securities laws, including the Private Securities Litigation Reform Act of 1995 (collectively, the “forward-looking statements”). “) contained. Statements of historical fact contained herein, including without limitation statements regarding the timing of our anticipated business plans and future actions, are forward-looking statements. While we believe such statements to be reasonable, there can be no assurance that such expectations will prove correct. Forward-looking statements generally “believe,” “expect,” “anticipate,” “intend,” “estimate,” “plan,” “could,” “should.” , “will”, “will”, etc. ”, “potential”, “scheduled”, or variations of such words or phrases and similar expressions that, by their nature, are likely to occur, are likely to occur, occur Refers to future events or results that may occur, occur, or be achieved. In preparing the forward-looking statements in this news release, we have made several important assumptions. This includes, but is not limited to, market fundamentals resulting in sustained demand and prices for copper and precious metals, receipt of necessary permits, licenses and regulatory approvals. the timely future development of our projects; the availability of financing on suitable terms for the development, construction and continued operation of our projects; and our compliance with environmental, health and safety laws. related to ability.
Forward-looking statements involve known and unknown risks, uncertainties and the possibility that our actual results, performance or performance may differ materially from any future results, performance or achievements expressed or implied by forward-looking information. There are other factors included. Such risks and other factors include, among others, the requirement for additional capital, the actual results of exploration activities, including the Escalon and Crystal projects, and the adequacy of economic assumptions based on the results of his PEA for the Zonia project. It is included. , estimates or realization of mineral reserves and resources, future prices of copper, changes in general economic conditions, changes in financial markets and commodity demand and market prices, lack of investor interest in private placements, accidents, Labor and mining conflicts and other risks, government approvals (including acceptance of private placements by TSXV), obtaining permits or financing, or delays in completing development or construction activities, risks associated with epidemics or pandemics.epidemics or pandemics affecting our business, financial condition and results of operations; changes in laws, regulations and policies affecting our mining operations; title disputes; timing and expected outcomes of pending litigation; Factors set forth in our annual and quarterly management discussions and analyzes and other filings we file with Canadian securities regulators under our profile www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. We do not undertake any obligation to update any forward-looking statements contained in this news release or incorporated herein by reference, except as otherwise required by law.
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