Cancels and Grants Incentive Stock Options
World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE: 7LY0 ("World Copper") reports that its shareholders have approved all matters voted on at the annual general and special meeting held on September 27, 2022 (the "AGSM").
Results of Annual General and Special Meeting
A total of 31,525,821 common shares were represented in person or by proxy at the AGSM, representing 29.41% of the Company's issued and outstanding common shares. All directors nominated in the management information circular dated August 15, 2022 were re-elected, and the voting results from the AGSM are set out in the table below.
|Number of Directors||31,507,950 (99.96%)||11,204 (0.04%)||--|
|Hendrik van Alphen||31,513,813 (99.98%)||--||5,341 (0.02%)|
|Patrick James Burns||30,718,965 (97.46%)||--||800,189 (2.54%)|
|Timothy McCutcheon||30,719,667 (97.46%)||--||799,487 (2.54%)|
|Roberto Fréraut||30,723,698 (97.48%)||--||795,456 (2.52%)|
|Robert Kopple||30,326,479 (96.22%)||--||1,192,675 (3.78%)|
|Appointment of Auditors||31,519,154 (100.00%)||--||--|
|Ratification and Approval of Amended Stock Option Plan||30,282,658 (96.08%)||1,236,496 (3.92%)||--|
|Approval of New Articles of the Corporation||24,296,039 (77.08%)||7,223,115 (22.92%)||--|
Stock Option Cancellations and Grants
The Company reports that it has cancelled an aggregate of 4,585,000 incentive stock options originally granted under the Company's rolling stock option plan to certain directors, officers, employees and consultants of the Company on January 31, 2022, and exercisable until February 1, 2024, at an exercise price of $0.91.
The Company also reports that, subject to applicable shareholder and TSX Venture Exchange approvals, the Company has granted incentive stock options under the amended stock option plan to certain directors, officers, employees and consultants of the Company to purchase up to 4,755,000 common shares in the capital stock of the Company. The options are exercisable on or before September 30, 2025 at a price of $0.27 per share. Under the amended stock option plan, the Company may grant up to an aggregate of 11,246,172 stock options, and after the grant of the above-mentioned stock options the Company will have 491,172 stock options available for grant under the plan.
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.
On Behalf of the Board of Directors of
Chief Executive Officer
For further information, or to schedule a Zoom meeting with Management, please contact:
Nolan Peterson or Michael Pound
For all Investor Relations inquiries, please contact:
Liviakis Financial Communications Inc.
For all Public Relations inquiries, please contact:
Office: 212-532-2208 | Mobile: 917-371-4053
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.
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