Mr. Shaun Pollard reports
WORLD COPPER ANNOUNCES BOARD AND MANAGEMENT CHANGES; NON-BROKERED PRIVATE PLACEMENT
World Copper Ltd. has made 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, 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, subject to the approval of the TSX Venture Exchange, of up to 13,333,333 units of the company at a price of 7.5 cents per unit for aggregate gross proceeds of up to $1-million. Each unit consists of one common share of the company and one common share purchase warrant. Each warrant entitles the holder thereof to purchase one additional share at an exercise price of 10 cents 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. 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 $2.5-million.
About World Copper Ltd.
World Copper, headquartered in Vancouver, B.C., is a Canadian resource company focused on the exploration and development of prospective resource projects.
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