Business
World Copper Closes Over-Subscribed $6.4 Million Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - October 29, 2021) - World Copper Ltd. (TSXV: WC...
About this update from World Copper Ltd
[{"type":"text","content":"World Copper Closes Over-Subscribed $6.4 Million Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - October 29, 2021) - World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (\"World Copper\" or the \"Company\") reports that, pursuant to their news releases dated September 7, 2021, September 30, 2021, October 6, 2021 and October 20, 2021, the Company has closed the third and final tranche of the Placement. On October 28, 2021 the Company issued an additional 10,468,921 Units for gross proceeds of $4,187,568.50. The Company has issued total aggregate of 16,223,921 Units for aggregate gross proceeds of $6,489,568.50 as part of the Placement.Each unit consisted of one common share (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 $0.60 per share. The expiry of the Warrants may be accelerated if the closing price of the Company's common shares on the TSX Venture Exchange (\"TSXV\") is equal to or greater than $1.00 for a minimum of twenty consecutive trading days and a notice of acceleration is provided in accordance with the terms of the Warrants.Pursuant to the final tranche closing, additional finder's fees were paid to Canaccord Genuity Corp. ($19,600.00 and 49,000 warrants), Richardson Wealth ($10,500.00 and 26,250 warrants), Red Cloud Securities Inc. ($70,000 and 175,000 warrants), Research Capital Corporation ($10,500.00 and 26,250 warrants) and, MJP Justus Inc. ($5,600.00 and 14,000 warrants). All warrants issued pursuant to finder's fees are non-transferable.All securities issued in the Offering have 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 exploration of the Escalones and Cristal properties in Chile and, general working capital.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 fo...