Mr. Gordon Neal reports
WORLD COPPER ARRANGES $1.5 MILLION FINANCING
World Copper Ltd. has arranged a non-brokered private placement of up to 18.75 million units at a price of eight cents per unit for gross proceeds of up to $1.5-million. Each unit will consist of one common share of the company and one common share purchase warrant. Each warrant entitles the holder to acquire one additional share of the company for a period of three years from the date of issuance at a price of 16 cents 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. The closing of the offering is subject to the approval of the TSX Venture Exchange.
The net proceeds from the offering are intended for an expansion drill program and general working capital.
About World Copper Ltd.
World Copper, headquartered in Vancouver, B.C., 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 expand the resource base.
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