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Plata Latina and World Copper Announce Acquisition of the Zonia Project by Plata Latina and Concurrent $17 Million Financing to Create a Development-Focused Copper Company to be Named "Edge Copper Corporation"
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTIO...
About this update from World Copper Ltd
[{"type":"text","content":"Plata Latina and World Copper Announce Acquisition of the Zonia Project by Plata Latina and Concurrent $17 Million Financing to Create a Development-Focused Copper Company to be Named \"Edge Copper Corporation\"THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.All dollar amounts in this news release refer to Canadian dollars.Vancouver, British Columbia--(Newsfile Corp. - July 23, 2025) - Plata Latina Minerals Corporation (TSXV: PLA) (\"Plata Latina\") and World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0) (\"World Copper\") are pleased to announce that they have entered into an arm's length definitive agreement dated July 22, 2025 (the \"Transaction Agreement\") for Plata Latina to acquire the Zonia Copper Project (\"Zonia\") in Arizona from World Copper for consideration of cash and common shares of Plata Latina (\"Plata Latina Shares\") by way of a court-approved plan of arrangement (the \"Transaction\"). Plata Latina will be renamed Edge Copper Corporation upon closing of the Transaction. Under the terms of the Transaction, World Copper will receive $10.5 million in cash (the \"Cash Consideration\") and such number of Plata Latina Shares as results in World Copper and its shareholders owning approximately 31.3% of Plata Latina, on a non-diluted basis, immediately following closing of the Transaction and the Concurrent Financing (as defined below) (the \"Share Consideration\"). The aggregate Cash Consideration and Share Consideration are valued at approximately $22 million, which implies a value of approximately $0.085 per common share of World Copper (the \"World Copper Shares\")(1) representing a premium of approximately 40% to the five-day volume-weighted average price of the World Copper Shares on the TSX Venture Exchange as of July 22, 2025 and a premium of approximately 71% to the 20-day volume-weighted average price of the World Copper Shares on the TSX Venture Exchange as of July 22, 2025. As part of the Transaction, World Copper shareholders are expected to receive approximately 0.3930 of a Plata Latina Share for each World Copper Share (the \"Exchange Ratio\") pursuant to a distribution by World Copper to its shareholders of a substantial portion of the Share Consideration.(2) Immediatel...