Business
World Copper Arranges $1.25 Million Financing
Vancouver, British Columbia--(Newsfile Corp. - March 8, 2023) - World Copper Ltd. (TSXV: WCU) (OT...
About this update from World Copper Ltd
[{"type":"text","content":"World Copper Arranges $1.25 Million FinancingVancouver, British Columbia--(Newsfile Corp. - March 8, 2023) - World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE: 7LY0) (\"World Copper\" or the \"Company\") announces a non-brokered private placement (the \"Placement\") of up to 6,944,444 units (the \"Units\") at a price of $0.18 per Unit (the \"Offering\") for gross proceeds of up to $1,250,000. Each Unit will consist of one common share of the Company (a \"Share\") and one-half of one common share purchase warrant (a \"Warrant\"). Each whole Warrant entitles the holder to acquire one additional share of the Company for a period of two years from the date of issuance at a price of $0.30 per share.Insiders may participate and finders' fees may be payable to qualified arm's length parties that have introduced the Company to certain subscribers participating in the Offering. All securities issued in the Offering are subject to a four-month hold period, during which time the securities may not be traded. Closing of the Offering is subject to the approval of the TSXV.The net proceeds from the Offering are intended for general working capital and development costs.This press release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the U.S. Securities Act of 1933, as amended (the \"1933 Act\") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.ABOUT WORLD COPPER LTD.World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of its copper porphyry projects: Escalones and Cristal in Chile, and Zonia in Arizona. Two of these projects have estimated resources with significant soluble copper mineralization, and each has additional copper porphyry targets with exciting potential to...