The Conversation (0)
World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY) ("World Copper" or the "Company") announces the following changes to its Board of Directors and management:
Gareth Thomas has been appointed Executive Chair and a Director of the Company.
Shaun Pollard has been appointed President, Chief Executive Officer, and a Director of the Company.
Mr. Thomas has over two decades of experience in exploration, corporate development, and public company management. A co-founder of Westhaven Gold Corp., he has served in multiple roles, including President, CEO, and Director, since 2010. He holds a Bachelor's degree from the University of British Columbia.
Mr. Pollard has over two decades of experience in capital markets, exploration, and public company management. A co-founder of Westhaven Gold Corp., he served as CFO and/or Director from 2010 until 2025. He holds a Master of Business Administration from the UBC Sauder School of Business.
Mark Lotz has resigned his roles as President, Chief Executive Officer, and Director of the Company. The Company thanks Mr. Lotz for his contributions and wishes him well in his future endeavours.
Non-Brokered Private Placement
World Copper announces a non-brokered private placement (the "Offering"), subject to the approval of the TSX Venture Exchange (the "Exchange"), of up to 13,333,333 units of the Company (the "Units") at a price of $0.075 per Unit for aggregate gross proceeds of up to $1,000,000. Each Unit consists of one common share of the Company (a "Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to purchase one additional Share at an exercise price of $0.10 per Share for a period of two years from the date of issuance.
All securities issued pursuant to the Offering will be subject to a statutory four-month hold period. Closing of the Offering is subject to the Company's receipt of all necessary corporate and regulatory approvals, including approval of the Exchange.
Proceeds from the Offering will be used for exploration and general working capital.
Certain directors, officers, and other insiders of the Company may participate in the Offering, which would be considered a related party transaction within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company will rely on sections 5.5(b) and 5.7(1)(b) of MI 61-101 for an exemption from the formal valuation and minority shareholder approval requirements, respectively, of MI 61-101, as the Company's common shares are listed on the Exchange and at the time the transaction will be agreed to, neither the fair market value of the Units, nor the market value of the consideration received by the Company for same, insofar as it involves related parties, will exceed $2,500,000.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The foregoing securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
ABOUT World Copper Ltd.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of prospective resource projects.
Detailed information is available at World Copper's website at www.worldcopperltd.com, and for general Company updates you may follow us on our social media pages via Facebook, X, and LinkedIn.
For Further Information, Please Contact:
Shaun Pollard
President & Chief Executive Officer
Telephone: 604-765-9944
Email: spollard@worldcopperltd.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility 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 (collectively, "forward-looking statements") within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, included herein, including, without limitation, statements regarding the completion of the Offering, the use of proceeds from the Offering, the participation of related parties in the Offering, and the Company's future plans, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as "believes," "expects," "anticipates," "intends," "estimates," "plans," "may," "should," "would," "will," "potential," "scheduled," or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might, or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of the Company to differ materially from any future results, performance, or achievements expressed or implied by the forward-looking information. Such risks and other factors include, among others, requirements for additional capital, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, future prices of copper, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes, and other risks of the mining industry, delays in obtaining governmental approvals (including Exchange acceptance), permits, or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics, including the impact on the Company's business, financial condition, and results of operations, changes in laws, regulations, and policies affecting mining operations, title disputes, the timing and possible outcome of any pending litigation, environmental issues and liabilities, as well as the risk factors described in the Company's annual and quarterly management's discussion and analysis and in other filings made by the Company with Canadian securities regulatory authorities under the Company's profile at www.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES**
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/312956
