The TSX Venture Exchange has accepted for filing documentation in connection with the plan of arrangement among Vizsla Copper Corp. and Universal Copper Ltd., pursuant to the terms of an arrangement agreement dated Feb. 13, 2024, and a court-approved plan of arrangement under Section 288 of the Business Corporations Act (British Columbia).

Pursuant to the terms of the arrangement, Vizsla Copper acquired 100 per cent of the issued and outstanding common shares in the capital of Universal Copper in exchange for the issuance of 0.23 common share in the capital of Vizsla Copper for each Universal Copper share (the exchange ratio), Universal Copper's outstanding stock options were exchanged for stock options of Vizsla Copper, and Universal Copper's outstanding warrants became exercisable to acquire Vizsla Copper shares, in amounts and at exercise prices adjusted in accordance with the exchange ratio.

The exchange has been advised that the Supreme Court of British Columbia provided its final order approving the arrangement on April 16, 2024. The exchange has been advised that the arrangement has closed on April 18, 2024. For further information, refer to Universal Copper's information circular dated March 5, 2024, which is available under Universal Copper's profile on SEDAR+, and the news releases of the Vizsla Copper and Universal Copper dated Feb. 14, 2024, March 7, 2024, April 10, 2024, and April 18, 2024.

Postarrangement

Capitalization:  unlimited shares with no par value, of which 181,375,021 shares are issued and outstanding

Escrow:  394,841 shares

Transfer agent:  Computershare Investor Services Inc.

Delisting of Universal Copper

Further to the completion of the arrangement effective at the close of business, Friday, April 19, 2024, the common shares of Universal Copper will be delisted from the TSX Venture Exchange at the request of Universal Copper.