World Copper

World Copper Provides Update

World Copper Ltd. ("World Copper" or the "Company"; TSXV: WCU, OTCQB: WCUFF, FSE:7LY0) is pleased to provide an update on the proposed sale of its Zonia Copper project in Arizona ("Zonia" or the "Project") to an arms length third party (the "Purchaser") for CAD $26M in cash (the "Purchase Price"), payable in tranches, as previously announced on February 19, 2025 (the "Proposed Transaction").

The Purchaser is a metals and mining investment manager with two decades of leadership in investing in and developing mining projects. Pursuant to the terms of the binding letter agreement among the Purchaser, World Copper and World Copper's Arizona subsidiary ("Subco"), the Purchaser has approximately 35 days remaining in the 90-day due diligence period, and the Company continues to work diligently with the Purchaser to assist with the completion of the Purchaser's due diligence on the Project.

The payment of the CAD $26M cash Purchase Price shall be payable as to CAD $8M to World Copper at closing of the Proposed Transaction (the "Closing"), an additional instalment of CAD $8M on or before the 15-month anniversary of Closing, and a final instalment of CAD $10M on or before the 30-month anniversary of Closing, subject to the Purchaser's right to accelerate the additional instalments. Until the payment of the Purchase Price is received in full, it is proposed that the shares of Subco will be held in escrow, and the Purchaser will grant World Copper a security interest over such shares and the Project. If the Purchaser fails to make any instalment payment for the Purchase Price, the shares of Subco will be returned to World Copper and the Purchaser will retain no interest in the Subco shares or the Project.

The Company recently held highly productive discussions and meetings with key representatives including the Buyers' senior executives. These meetings have significantly reaffirmed the transaction progress, with both parties reaffirming their commitment to complete the transaction.

"This transaction essentially provides our shareholders with a 260% premium to our current trading price. We are encouraged by the strong alignment and momentum between both parties," said Gordon Neal, President & CEO.

The Company will provide further updates as milestones are achieved and material developments occur.

The Company also reports that, in accordance with the policies of the TSX Venture Exchange, Section 1.3(c) of Policy 4.2, and further to the at-the-market ("ATM") offering of shares made pursuant to the Prospectus Supplement dated July 17, 2024, World Copper issued 11,501,000 common shares and raised gross proceeds of $579,654 pursuant to ATM distributions during the period January 1, 2025 to March 31, 2025. Bank of Montreal ("BMO") received fees of $17,389 during the period. We further confirm that no new Insider or Control Person (as defined in Policy 1.1), has been or will be created in connection with the ATM offering.

ABOUT WORLD COPPER LTD.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of its copper porphyry projects: Escalones in Chile, and Zonia in Arizona. Two of these projects have estimated resources with significant soluble copper mineralization, and each has additional copper porphyry targets with exciting potential to expand the resource base.

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, Twitter & LinkedIn.

On Behalf of the Board of Directors of

WORLD COPPER LTD.

"Gordon Neal "

Gordon Neal

Chief Executive Officer and President

For further information, or to schedule a Zoom meeting with Management, please contact:

Gordon Neal 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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to 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. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained copper and precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company's projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Company's projects and the Company's ability to comply with environmental, health and safety laws.

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, including on the Escalones Project and the Cristal Project, the reasonability of the economic assumptions at the basis of the results of the PEA for the Zonia Project, 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 the Private Placement, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals (including acceptance of the Private Placement by the TSXV), permits or financing or in the completion of development or construction activities, risks relating to epidemics or pandemics, including the impact of an epidemic or pandemic 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.sedar.com.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

Source

Click here to connect with World Copper Ltd. (TSXV: WCU, OTCQB: WCUFF, FSE:7LY0) to receive an Investor Presentation

WCU:CA
The Conversation (0)
World Copper

World Copper


Keep reading...Show less

Developing world-class copper assets in Arizona and Chile.

/C O R R E C T I O N from Source -- Canadian Investment Regulatory Organization  - Halts/Resumptions/

/C O R R E C T I O N from Source -- Canadian Investment Regulatory Organization - Halts/Resumptions/

HaltsResumptions over CNW, we are advised by the company that the resumption time should be "1:45 PM" rather than "12:30 PM" as originally issued inadvertently. The complete, corrected release follows:

Canadian Investment Regulatory Organization Trade Resumption - WCU

VANCOUVER, BC , Feb. 19, 2025 /CNW/ - Trading resumes in:

News Provided by Canada Newswire via QuoteMedia

Keep reading...Show less
Canadian Investment Regulatory Organization Trade Resumption - WCU

Canadian Investment Regulatory Organization Trade Resumption - WCU

Trading resumes in:

Company: World Copper Ltd.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less
World Copper Enters into Letter Agreement to Sell Zonia Project

World Copper Enters into Letter Agreement to Sell Zonia Project

World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0)  ("World Copper" or the "Company") announces that the Company has entered into a binding letter agreement made as of February 12, 2025 (the "Letter Agreement") to sell its interest in the Zonia copper project located in the Walnut Grove Mining District, Yavapai County, Arizona ("Zonia" or the "Project") to an arm's length third party (the "Purchaser") in consideration for CAD $26.0 million cash (the "Purchase Price"), payable in tranches (the "Proposed Transaction").

The Letter Agreement provides for a 90-day due diligence period and sets forth the proposed commercial terms for the Proposed Transaction. It is currently expected that the Proposed Transaction will be effected by way of a share purchase and sale transaction pursuant to which the Purchaser would acquire all of the issued and outstanding shares of the Company's Arizona subsidiary, Cardero Copper (USA) Ltd. ("Subco"). Following completion of due diligence to the satisfaction of the Purchaser, the parties will have 15 days to enter into a definitive agreement. The payment of the Purchase Price shall be payable as to CAD $8.0 million to World Copper at closing of the Proposed Transaction (the "Closing"), an additional instalment of CAD $8.0 million on or before the 15-month anniversary of Closing, and a final instalment of CAD $10.0 million on or before the 30-month anniversary of Closing, subject to the Purchaser's right to accelerate the additional instalments. Until the payment in full of the Purchase Price, it is proposed that the shares of Subco will be held in escrow, and the Purchaser will grant World Copper a security interest over such shares and the Project. If the Purchaser fails to make any instalment payment for the Purchase Price, the shares of Subco will be returned to World Copper and the Purchaser would retain no interest in the Subco shares or the Project.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
World Copper Arranges $1.5 Million Financing

World Copper Arranges $1.5 Million Financing

World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE:7LY0) ("World Copper" or the "Company") announces a non-brokered private placement (the "Placement") of up to 18,750,000 units (the "Units") at a price of $0.08 per Unit (the "Offering") for gross proceeds of up to $1,500,000. Each Unit will consist of one common share of the Company (a "Share") and one common share purchase warrant (a "Warrant"). Each Warrant entitles the holder to acquire one additional share of the Company for a period of three years from the date of issuance at a price of $0.16 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 Initiates Strategic Review Process and Engages Advisor

World Copper Initiates Strategic Review Process and Engages Advisor

World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0) ("World Copper " or the "Company") announces that the Company has initiated a strategic review process and has engaged Origin Merchant Partners (the "Advisor") to assist it in its review. The Advisor will work with World Copper's management and Board to evaluate a range of strategic alternatives that may be available to the Company to grow and maximize value for all shareholders (the "Engagement"). There can be no assurance that this process will result in any specific strategic plan or financial transaction and no timetable has been set for its completion. The Company does not plan to provide updates on the status of the review unless there are material developments to report.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Nine Mile Metals

Nine Mile samples up to 18.27% Cu at Wedge

NINE MILE METALS ANNOUNCES XRF HIGH-GRADE RESULTS UP TO 18.27% COPPER FROM THE UPCOMING DRILL AREA AT THE WEDGE PROJECT, BATHURST, NEW BRUNSWICK

Nine Mile Metals Ltd. has released XRF (X-ray fluorescence) results for volcanogenic massive sulphide (VMS) mineralization grab samples collected from the coming drill area on the Wedge VMS project in the world-famous Bathurst mining camp (BMC) in New Brunswick, Canada. Discovered in 1956, Cominco operated the Wedge mine between 1962 and 1968, producing 1.5 million tonnes of predominantly copper ore. At the time of closure (head pillar collapsed), only the upper portion of the deposit was mined. The expectation is that the lower 60 per cent plus remains untouched based upon recent drill testing and extends at depth with the 3-D modelling.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Appointment of Marketing Manager

Empire Metals Limited (LON:EEE), the AIM-quoted and OTCQX-traded resource exploration and development company, is pleased to announce the appointment of a Marketing Manager, a key role which, along with Empire's partnership with titanium marketing experts, TiPMC Consulting, strengthens the in-house marketing and product development team and supports the rapid advancement of the Pitfield Titanium Project ("Pitfield" or the "Project") in Western Australia.

Key Points

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Director/PDMR Shareholding

Empire Metals Limited (LON:EEE)(OTCQX:EPMLF),the AIM-quoted resource exploration and development company, announces that it was notified today that Mr Shaun Bunn, Managing Director, purchased 40,000 ordinary shares of no par value in the share capital of the Company ("Ordinary Shares") at a price of 36.25 pence each.

Following this purchase, Mr Bunn's total beneficial ownership in the Company is 2,251,111 Ordinary Shares representing 0.32% of the Company's issued share capital.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Company Update

The Board of Empire Metals Limited (LON:EEE)(OTCQX:EPMLF), the resource exploration and development company, would like to respond to recent sharp decline in the Company's share price and would like to clarify that there has been no material change to the Company's operational or financial position to account for this movement. The Board remains confident in the Company's strategy, the progress being made at the Pitfield Titanium Project and the long-term value proposition for shareholders.

Empire continues to advance technical and commercial workstreams to unlock the Project's full potential and will update the market in due course on further developments. The Company is well funded to achieve upcoming milestones, underpinned by £4.5m fundraising in Q2 2025 and as at 30 June 2025 the Company's cash position was £6.3m.

Keep reading...Show less
High-Grade Copper-Gold Extensions at Nugent

High-Grade Copper-Gold Extensions at Nugent

Hillgrove Resources Limited (Hillgrove) (ASX:HGO) is pleased to provide the following drilling update from the Kanmantoo Copper Mine. The Nugent drilling program from the 1010 Diamond Drill Site and the 1040 Nugent Drill Site has been completed and delivered excellent results which improve the understanding of the Nugent orebody in preparation for first production. These results have increased the Gold endowment and improved knowledge of the Copper-Gold distribution.

Keep reading...Show less
Empire Metals

Empire Metals Limited Announces Director/PDMR Shareholding

Empire Metals Limited / LON:EEE / Sector: Natural Resources - Empire Metals Limited ("Empire" or the "Company")

Director Dealing

Keep reading...Show less

Latest Press Releases

Related News