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World Copper Announces Effective Date of Consolidation
Provides Update on Escalones Drilling Program and Zonia Acquisition Vancouver, British Columb...
About this update from World Copper Ltd
[{"type":"text","content":"World Copper Announces Effective Date of ConsolidationProvides Update on Escalones Drilling Program and Zonia AcquisitionVancouver, British Columbia--(Newsfile Corp. - June 16, 2021) - World Copper Ltd. (TSXV: WCU) (\"World Copper\" or the \"Company\") announces that, further to a news release dated April 13, 2021 and subject to final acceptance by the TSX Venture Exchange (the \"TSXV\"), its board of directors has approved the consolidation (the \"Consolidation\") of its issued and outstanding common shares (the \"Shares\") on the basis of one (1) post-Consolidation Share for every three (3) pre-Consolidation Shares. The Company anticipates that the Shares will begin trading on a post-Consolidation basis effective market open on June 18, 2021.As of the date of this news release, the Company has 132,251,980 Shares issued and outstanding and the Company expects that it will have approximately 44,083,994 Shares issued and outstanding on a post-Consolidation basis. The Company's new CUSIP number and ISIN for the Shares will be 981448202 and CA9814482027, respectively.Registered shareholders will receive a letter of transmittal from Computershare Investor Services Inc., the transfer agent for the Shares, describing the process by which shareholders may obtain new certificates representing their post-Consolidation Shares. Shares held in uncertificated form by non-registered shareholders through brokerage accounts will be converted through each shareholder's brokerage accounts. Non-registered shareholders should consult their broker for further information.Escalones Drill ProgramThe Company has completed its previously announced (see news release dated March 2, 2021) geochemical soil sampling program of the cluster of three distal porphyry copper targets, located 8 to 10 kilometres to the north of the Escalones deposit within the 162 km2 Escalones project area (\"Escalones\" or the \"Escalones Project\"). The purpose of this exploration program was to sample, map and conduct geophysics on the three anomalies in order to optimize drill targets. The results from the program will be released as information becomes available.The Company is continuing with the permitting process required for its planned up to 5,000 metre drill program at Escalones and is currently working on completing an environmental permit application (the \"Escalones E...