Business
World Copper Increases Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - October 20, 2021) - World Copper Ltd. (TSXV: WC...
About this update from World Copper Ltd
[{"type":"text","content":"World Copper Increases Non-Brokered Private PlacementVancouver, British Columbia--(Newsfile Corp. - October 20, 2021) - World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (\"World Copper\" or the \"Company\") reports that, pursuant to their news release of September 7, 2021, they have increased the size of the non-brokered private placement by an additional $2,000,000 for aggregate gross proceeds of up to $6,000,000 (the \"Offering\"). 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 $0.60 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.\"The oversubscription of this financing is a testament to the strong support we continue to see within the investment community,\" said Nolan Peterson, World Copper Ltd. CEO \"Our team is hard at work delivering on our plans and this financing puts us on sound footing to advance our exploration and development programs at Escalones. I look forward to sharing with the market the unique ideas our team generates as we continue to unlock the full potential of our assets and create value for shareholders old and new.\"The Company also received TSX Venture Exchange acceptance to extend the closing date of the financing.Insiders may participate and finders' fees may be payable to 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 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....