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Western Metallica Announces Amended Bridge Financing and Director Resignation
TORONTO, March 26, 2025 (GLOBE NEWSWIRE) -- Western Metallica Resources Corp. (TSXV: WMS ) (&...
About this update from Western Metallica Resources Corp.
[{"type":"text","content":"Western Metallica Announces Amended Bridge Financing and Director Resignation\n\n\n\n TORONTO, March 26, 2025 (GLOBE NEWSWIRE) -- Western Metallica Resources Corp.\n \n (TSXV: WMS\n \n ) (“\n \n Western Metallica\n \n ” or the “\n \n Company\n \n ”) announces that it has amended its previously announced bridge financing (see press release dated January 16, 2025) for an increased amount of up to CDN$300,000 (the \"Amended Bridge Loan\") from Gregory Duras, Chief Executive Officer and Director of the Company (the \"Lender\"). To date, the Company has drawn down CDN$230,000. All other terms of the Amended Bridge Loan are unchanged.\n \n\n The Amended Bridge Loan constitutes a \"related party transaction\" ‎under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special ‎Transactions (\"MI 61-101\") as the Lender is a related party (as defined in MI 61-101) of the ‎Company. The Company is relying on the exemptions from the valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(a) and (b) and 5.7(1)(f) of MI 61-101.\n \n\n The Company is expected to require additional financing to satisfy the Company's obligations as they become due.\n \n\n\n Director Resignation\n \n\n\n The Company also announces that Mr. Paul Pearson has resigned from the Board of Directors.\n \n\n\n\n About Western Metallica Resources Corp.\n \n\n\n\n Western Metallica is an Ontario registered company with its head office in Toronto, Ontario, trading on the TSX Venture Exchange under symbol WMS. Western Metallica is in the business of mineral resource exploration and development and holds the option to acquire a 100% interest in the Caña Brava copper-molybdenum project located in La Libertad Department, Peru. Western Metallica is also advancing its 100% owned Nueva Celti Copper Property in the Ossa Morena belt in Andalusia, Spain, and three other Spanish gold projects in the “Navelgas Gold Belt” in Asturias, Spain (Penedela, Valledor and Sierra Alta).\n \n\n Further information of the Company can be found at:\n \n www.westernmetallica.com\n \n\n\n\n For more information please contact:\n \n\n\n\n Western Metallica Resources Corp.\n \n\n Gregory Duras\n \n Chief Executive Officer\n \n Email:\n \n [email protected]\n \n\n\...