Resource News

World Copper Extends Due Date on Cardero Loans

World Copper Extends Due Date on Cardero Loans

World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE: 7LY0) ("World Copper", "Cardero" or the "Company"), reports that, subject to TSX Venture Exchange ("TSXV") acceptance, the Company will extend the due dates on advances from E.L. II Properties Trust, a company owned by Robert C. Kopple, a director of the Company (the "Lender").

There are three loans in the aggregate amount of USD 1,065,265 equivalent Canadian amount converted at CAD 1.3565, CAD 1,445,031.97 (the "Loans").

The Company has arranged to extend the due dates on the three loans to February 22, 2024 (the New "Maturity Dates"). The Company has agreed to issue in aggregate 10,321,657 non-transferable bonus common share purchase warrants (each, a "Bonus Warrant") to the Lender subject to receipt of the approval of the TSX Venture Exchange for this Loan Extension and Bonus Warrants issue. Each Bonus Warrant will entitle the holder to purchase one common share in the capital of the Company at an exercise price of CAD 0.14 per share expiring February 22, 2024. The Bonus Warrants are calculated based on the original loan amount of USD 1,065,265 converted to CAD 1,445,031.97 based on the exchange rate at December 29, 2022. All securities issued pursuant to the Loans will be subject to a hold period of four months and one day in Canada from the date of issuance.

This transaction constitutes a "related party transaction" as such term is defined under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on the exemptions from the formal valuation and minority approval requirements under MI 61- 101. The Company is exempt from the formal valuation and minority approval requirements of MI 61-101 in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization."

ABOUT World Copper Ltd.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of its two primary copper porphyry projects, Escalones and Cristal, both located in Chile. World Copper has laid claim to four copper porphyry targets, one with estimated resources, significant soluble copper mineralization, and exciting potential to expand the resource base.

The World Copper team has a unique skill in navigating the mining sector within Chile, with some members having worked in the country for more than 40 years and with discovery success.

Detailed information is available at the Company's website at www.worldcopperltd.com, and for general Company updates you may follow us on our social media pages via Facebook, Twitter & LinkedIn.

For further details on the Company readers are referred to the Company's website. To view the Company's Canadian regulatory filings, please visit SEDAR.

On Behalf of the Board of Directors of
World Copper Ltd.

"Nolan Peterson"
Nolan Peterson
Chief Executive Officer

For further information, or to schedule a Zoom meeting with Management, please contact:
Nolan Peterson or Michael Pound
Phone: 604-638-3287
E-mail: info@worldcopperltd.com

For all Investor Relations inquiries, please contact:
John Liviakis
Liviakis Financial Communications Inc.
Phone: 415-389-4670

For all Public Relations inquiries, please contact:
Nancy Thompson
Vorticom, Inc.
Office: 212-532-2208 | Mobile: 917-371-4053

Follow Us:

Twitter: https://twitter.com/WorldCopperLtd
Facebook: https://www.facebook.com/WorldCopperLtd
LinkedIn: https://www.linkedin.com/company/worldcopperltd

Neither 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, the anticipated business plans and timing of future activities of the Company, 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, statements as to the anticipated business plans and timing of future activities of the Company, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the TSX Venture Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, currency fluctuations, title disputes or claims, environmental issues and liabilities, risks relating to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company's business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's continuous disclosure documents. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/149836

News Provided by Newsfile via QuoteMedia

WCU:CA
The Conversation (0)
World Copper

World Copper


Keep reading...Show less
World Copper Sells Shares of Electric Royalties Ltd.

World Copper Sells Shares of Electric Royalties Ltd.

World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company") reports, further to its news release on January 25, 2023, that the sale to Wealth Minerals Ltd. ("Wealth") of 2,000,000 common shares in the capital of Electric Royalties Ltd. (each, an "ELEC Share") for a purchase price of $0.25 per ELEC Share (the "Transaction") has now closed. On closing, the Company received the aggregate amount of CAD $500,000 cash.

As Wealth holds more than 10% of the issued and outstanding common shares of the Company (and is a Non-Arm's Length Party (as defined in TSXV policies)), the Transaction constitutes a related party transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on Sections 5.5(a) and 5.7(1)(a) of MI 61-101 for an exemption from the formal valuation and minority shareholder approval requirements, respectively, as at the time the Share Purchase Agreement was entered into, neither the fair market value of the ELEC Shares, nor the fair market value of the consideration to be provided by Wealth for same, exceeded 25% of the Company's market capitalization.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
World Copper Arranges $1.25 Million Financing

World Copper Arranges $1.25 Million Financing

World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company") announces a non-brokered private placement (the "Placement") of up to 6,944,444 units (the "Units") at a price of $0.18 per Unit (the "Offering") for gross proceeds of up to $1,250,000. Each Unit will consist of one common share of the Company (a "Share") and one-half of one common share purchase warrant (a "Warrant"). Each whole Warrant entitles the holder to acquire one additional share of the Company for a period of two years from the date of issuance at a price of $0.30 per share.

Insiders may participate and finders' fees may be payable to qualified arm's length parties that have introduced the Company to certain subscribers participating in the Offering. All securities issued in the Offering are subject to a four-month hold period, during which time the securities may not be traded. Closing of the Offering is subject to the approval of the TSXV.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
World Copper Extends Cardero Loans

World Copper Extends Cardero Loans

World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE: 7LY0) ("World Copper", "Cardero" or the "Company"), reports that pursuant to their news release dated December 29, 2022, the TSX Venture Exchange ("TSXV") has accepted the consolidation and extension of the due dates on advances from E.L. II Properties Trust, a company owned by Robert C. Kopple, a director of the Company (the "Lender"). Four loans in the aggregate amount of USD 1,065,265 equivalent Canadian amount converted at CAD 1.3565, CAD 1,445,031.97 (the "Loans") have been extended to February 22, 2024 (the New "Maturity Dates"). The Company has issued in aggregate 10,321,657 non-transferable bonus common share purchase warrants (each, a "Bonus Warrant") to the Lender. Each Bonus Warrant entitles the holder to purchase one common share in the capital of the Company at an exercise price of CAD 0.14 per share expiring on February 22, 2024. The Bonus Warrants were calculated based on the original loan amount of USD 1,065,265 converted to CAD 1,445,031.97 based on the exchange rate on December 29, 2022. All securities issued pursuant to the Loans will be subject to a hold period of four months and one day in Canada from the date of issuance. Further, a clause has been added to the warrant certificate that restricts the exercise of warrants such that the holders' ownership would not be above 19.99%.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
World Copper Updates & Expands Resource Estimate for the Zonia Copper Oxide Deposit, Arizona

World Copper Updates & Expands Resource Estimate for the Zonia Copper Oxide Deposit, Arizona

World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) ("World Copper" or the "Company") announces the results of an updated mineral resource estimate for the Zonia copper-oxide deposit in Arizona, USA ("Zonia" or the "Project"). The updated mineral resource estimate includes 75.7 million short tons grading 0.30% total-copper (Indicated Resources) containing 450.5 million pounds of copper and 122.0 million short tons grading 0.24% total-copper (Inferred Resources) containing 575.4 million pounds of copper (the "Updated Resource Estimate"), which is a significant expansion of the Historical Resource Estimate (as defined below).

CEO Nolan Peterson states: "The Updated Resource Estimate for Zonia is a critical first milestone since World Copper's acquisition of the project, representing our best understanding of the resource as it is, and an expansion over past resources. As we advance the project on the engineering front, we will simultaneously aim to expand the resource even further by targeting the high potential Zonia Norte target northeast of the main resource deposit. Zonia is a key component of our development portfolio, and we look forward to continued positive developments at the site."

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
World Copper Agrees to Sell Shares of Electric Royalties Ltd.

World Copper Agrees to Sell Shares of Electric Royalties Ltd.

World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company"), announces that it has entered into a share purchase agreement (the "Share Purchase Agreement") with Wealth Minerals Ltd. ("Wealth") whereby the Company will sell to Wealth 2,000,000 common shares in the capital of Electric Royalties Ltd. (each, an "ELEC Share") for a purchase price of $0.25 per ELEC Share for the aggregate amount of $500,000 cash (the "Transaction"), subject to acceptance for filing by the TSX Venture Exchange (the "TSXV").

As Wealth holds more than 10% of the issued and outstanding common shares of the Company (and is a Non-Arm's Length Party (as defined in TSXV policies)), the Transaction constitutes a related party transaction pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company is relying on Sections 5.5(a) and 5.7(1)(a) of MI 61-101 for an exemption from the formal valuation and minority shareholder approval requirements, respectively, as at the time the Share Purchase Agreement was entered into neither the fair market value of the ELEC Shares, nor the fair market value of the consideration to be provided by Wealth for same, exceeded 25% of the Company's market capitalization. The Company also notes that the ELEC Shares to be sold to Wealth will be under a contractual restriction on resale until March 2, 2023.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Heritage Mining Announces up to $1,500,000 Non-Brokered Private Placement of Units and Flow-Through Units

Heritage Mining Announces up to $1,500,000 Non-Brokered Private Placement of Units and Flow-Through Units

(TheNewswire)

Heritage Mining Ltd.

VANCOUVER, BC TheNewswire - March 21, 2023 Heritage Mining Ltd. (CSE:HML) (" Heritage " or the " Company ") is pleased to announce that it intends to issue, pursuant to a non-brokered private placement, up to:

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
Slave Lake Zinc Enhances Critical Metal Exploration Potential at the O'Connor Lake Project

Slave Lake Zinc Enhances Critical Metal Exploration Potential at the O'Connor Lake Project

Slave Lake Zinc Corp. (CSE: SLZ) (the "Company") has continued to identify exciting new exploration targets at the O'Connor Lake project. The Company's review of historical drill logs indicates that the extensive drill program testing zinc lead deposits at the original discovery, MWK Number 1 vein, also reported intersecting pegmatitic dykes and pegmatitic granite in multiple drill holes. Intersections of pegmatite recorded in 1952 ranged from less than half a meter to over 8 meters within the same drill holes as multi meter intercepts of the highly prospective zinclead mineralization at the "head frame" area. This pegmatitic material is present as dyke swarms or injections. No sampling was ever done to test for the presence of lithium or other "critical metals" in these rocks. As part of the proposed summer work program, Slave Lake plans to locate the old core to determine if sampling it for lithium is feasible after this length of time.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Pampa Metals Launches Non-Brokered Private Placement

Pampa Metals Launches Non-Brokered Private Placement

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIRA)(OTCQB:PMMCF) is pleased to launch a non-brokered private placement offering (the "Offering") of up to 5,333,334 units ("Units") at a price of $0.15 per Unit for gross proceeds of up to $800,000. Proceeds will be used to support the previously announced ~2,100m diamond drill program of 3 deep holes at the Buenavista target and the Block 4 Project more broadly. Scheduled to commence in early April 2023, with preparatory works already underway, the program is expected to be completed within 2 months and assay results received in June

Non-Brokered Private Placement

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
VIZSLA COPPER IDENTIFIES NEW TARGETS AT THE HIGH-GRADE DEERHORN COPPER-GOLD PORPHYRY DEPOSIT AT THE WOODJAM PROJECT

VIZSLA COPPER IDENTIFIES NEW TARGETS AT THE HIGH-GRADE DEERHORN COPPER-GOLD PORPHYRY DEPOSIT AT THE WOODJAM PROJECT

Vizsla Copper Corp. (TSXV: VCU) (OTQB: VCUFF) (" Vizsla Copper " or the " Company ") is pleased to report results from an interpretation of a high-definition aeromagnetic geophysical survey recently completed at the Deerhorn copper-gold deposit on the Company's 65,252 ha Woodjam Copper Project (" Woodjam ").  Woodjam is prospective for copper-gold porphyry style mineralization and is located 55 km east of Williams Lake, BC (Figure 1).

Highlights
  • Deerhorn high-grade copper-gold target: based on a thorough review of all available exploration data, the Deerhorn deposit area has been prioritised for follow-up drilling this summer.
  • Extensions to high-grade mineralization: drilling will target extensions of mineralization where previous drilling intersected high-grade porphyry-related copper-gold mineralization (e.g., 123 meters of 2.49g/t Au and 0.40% Cu; DH20-071).
  • New high-priority targets: new magnetic geophysical data highlights numerous untested or poorly-tested targets in the Deerhorn area.
  • Project-wide ZTEM survey: plans are underway to commence a project-wide ZTEM survey to assist with target generation across the Woodjam project.

"The recently completed aeromagnetic survey has generated many high priority drill targets," commented Steve Blower , Vice President of Exploration. "One of the best examples is at the Deerhorn deposit, where recent drilling by the property's previous owners Consolidated Woodjam Copper has intersected high-grade copper and gold mineralization. "

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
PAN GLOBAL EXPECTED TO BENEFIT FROM THE INCLUSION OF COPPER IN THE 2023 EU CRITICAL MINERALS AND METALS LIST

PAN GLOBAL EXPECTED TO BENEFIT FROM THE INCLUSION OF COPPER IN THE 2023 EU CRITICAL MINERALS AND METALS LIST

TSXV: PGZ      OTCQB: PGZFF

 Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTCQB: PGZFF) is pleased to note the inclusion of copper as one of the key metals in the newly released European Union's Critical Minerals and Metals List. The new list identifies the most critical minerals and metals that are essential to the EU's economic growth and its transition to a low-carbon and digital economy.

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Pampa Metals Mobilises Drill Testing of the Buenavista Porphyry Copper Target

Pampa Metals Mobilises Drill Testing of the Buenavista Porphyry Copper Target

Pampa Metals Corp. ("Pampa Metals" or the "Company") (CSE:PM)(FSE:FIRA)(OTCQB:PMMCF) is pleased to advise that it has contracted Visión Perforaciones SpA to complete a ~2,100m diamond drill program of 3 deep holes designed to test coincident geological, geochemical, and geophysical anomalies at the Buenavista target and the Block 4 Project more broadly

Drilling is scheduled to commence in early April 2023, with preparatory works already underway, and is expected to be completed within 2 months. Assay results are expected in June.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×