World Copper Agrees to Sell Shares of Electric Royalties Ltd.
#2710 - 200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
NR 23-01 January 25, 2023
World Copper Agrees to Sell Shares of Electric Royalties Ltd.
FOR IMMEDIATE RELEASE...Vancouver, British Columbia: World Copper Ltd. ("World Copper" or the
"Company") - (TSX.V: WCU, OTCQX: WCUFF, FRA: 7LY0) announces that it has entered into a share
purchase agreement (the "Share Purchase Agreement") with Wealth Minerals Ltd. ("Wealth") whereby the
Company will sell to Wealth 2,000,000 common shares in the capital of Electric Royalties Ltd. (each,
an "ELEC Share") for a purchase price of $0.25 per ELEC Share for the aggregate amount of $500,000
cash (the "Transaction"), subject to acceptance for filing by the TSX Venture Exchange (the "TSXV").
As Wealth holds more than 10% of the issued and outstanding common shares of the Company (and is a
Non-Arm's Length Party (as defined in TSXV policies) ), the Transaction constitutes a related party
transaction pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special
Transactions ("MI 61-101"). The Company is relying on Sections 5.5(a) and 5.7(1)(a) of MI 61-101 for an
exemption from the formal valuation and minority shareholder approval requirements, respectively, as at
the time the Share Purchase Agreement was entered into neither the fair market value of the ELEC Shares,
nor the fair market value of the cons ideration to be provided by Wealth for same, exceeded 25% of the
Company's market capitalization. The Company also notes that the ELEC Shares to be sold to Wealth will
be under a contractual restriction on resale until March 2, 2023.
On Behalf of the Board of Directors of
WORLD COPPER LTD.
"Nolan Peterson"
Nolan Peterson
Chief Executive Officer
For further information, please contact:
Nolan Peterson or Michael Pound
Phone: 604-638-3287
E-mail: [email protected]
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward- looking statements and forward- looking information (collectively, "forward -looking
statements") within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements
of historical fact, in cluded herein including, without limitation, statements regarding the Transaction, and the anticipated
business plans and timing of future activities of the Company, are forward looking statements. All of the Company's
Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials,
including the technical reports filed with respect to the Company's mineral properties.
Readers are cautioned not to place undue reliance on forward- looking statements. The Company undertakes no obligation
to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise
required by law.