World Copper Closes First Tranche of $4.0 Million Non-Brokered Private Placement
#2710-200 Granville Street
Vancouver, BC, Canada, V6C 1S4
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO
UNITED STATES NEWS WIRE SERVICES**
NR-21-20 September 30, 2021
World Copper Closes First Tranche of $4.0 Million
Non-Brokered Private Placement
FOR IMMEDIATE RELEASE...Vancouver, British Columbia: World Copper Ltd. (" World
Copper" or the " Company"; TSXV: WCU, OTC QB: WCUFF) reports that, pursuant to their
news release dated September 7, 2021, the Company has closed a first tranche of the Placement.
On September 29, 2021 the Company issued 1,657,500 Units for gross proceeds of $659,000.00.
Each unit consists 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 Co mpany’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.
Finder’s fees were paid to MJP Justus Inc. ($7,000.00 and 17,500 warrants), Viking
Infrastructure Systems Inc. ($11,760.00 and 29,400 warrants), MMP MunichMining Partners
GmbH ($7,350.00 and 2,625.00 warrants) and, StephenAvenue Securities Inc. ($2,520.00).
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 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.
World Copper Ltd. - 2 - September 30, 2021
NR21-20 Continued
ABOUT WORLD COPPER LTD.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused
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 there are at least two other copper porphyry targets with
exciting potential to expand the resource base. The Zonia project is being acquired as part of the
previously announced merger transaction with Cardero Res ource Corp. Please refer to news
releases dated Ju ne 9th, 2021 and April 20th, 2021 for more details and for the current status of
the transaction.
About Escalones
The Escalones porphyry- skarn copper-gold project has estimated inferred resources of 426
million tonnes of 0.367% total copper within the oxidized zone , based on nearly 25,000m of
drill core from 53 holes. The 3.45 billion pounds of copper should be amenable to heap leaching
with an average recovery of 71%. The Company is focused on exploring the Mancha Amarilla
target immediately to the south of the existing resource. In addition, three significant
hydrothermal alteration zones, each measuring between 2,000m and 3,000m in diameter, lie 8-
10km to the north of the main discovery.
Mineral resources are not mineral reserves and do not have demonstrated economic viability as
there is no certainty that all or any part of the resources will be converted into reserves. Inferred
resources are that part of a mineral resource for which quantity and grade or quality are estimated
on the basis of limited geological evidence and sampling. It is reasonably expected that the
inferred resources could be upgraded to indicated resources with continued exploration.
About Zonia
The Zonia project is in Yavapai County, Arizona, and consists of 261 mine ral claims and
additional surface rights, all totaling 4,279.55 acres. It is a near -surface, copper-oxide resource
and a brownfields site having already been mined in the late 1960s and '70s. The Project is at the
PEA level and has been significantly de -risked with over 50,000 metres of drilling completed to
date and with substantial amounts of detailed engineering completed. Further details can be
found here.
The World Copper team has a unique skill in navigating the mining sector within Chile, with
some members having worked in the country for more than 40 years and with discovery success.
On Behalf of the Board of Directors of
WORLD COPPER LTD.
“Nolan Peterson”
NolanPeterson
Chief Executive Officer
World Copper Ltd. - 3 - September 30, 2021
NR21-20 Continued
For further information, please contact: Henk van Alphen or Michael Pound
Phone: 604-638-3665
E-mail: [email protected]
Media inquiries: Nancy Thompson, Vorticom, Inc.
Phone: 212-532-2208 or 917-371-4053
Investor relations inquiries: John Liviakis,
Liviakis Financial Communications Inc.
415-389-4670
Follow Us:
Twitter: https://twitter.com/WorldCopperLtd
Facebook: https://www.facebook.com/WorldCopperLtd
LinkedIn: https://www.linkedin.com/company/worldcopperltd
Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) 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, including the
United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical
fact, included herein including, without limitation, the Company's expectation that it and Cardero will be able to
complete the Proposed Transaction, including entering into a Definitive Agreement, the closing and amount of the
Private Placement, that Zonia can be advanced utilizing low-cost open pit mining and heap leach, the results of the
PEA, including, without limitation the NPV6%, IRR, estimated costs, average rate of production, the anticipated
exploration program results from exploration activities and the anticipated business plans and timing of future
activities of the Company, including the timing for the closing of the Proposed Transaction, are forward- looking
statements. Although the Company believes that such statements are reasonable, it can give no assurance that such
expectations will prove to be correct. Forward -looking statement s are typically identified by words such as:
"believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential",
"scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future
events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-
looking statements in this news release, the Company has applied several material assumptions, including without
limitation, that it will be able to negotiate and enter into a Definitive Agreement, and that it will obtain TSXV
acceptance and the required corporate approvals of the Proposed Transaction and the Consolidation, that there will
be investor interest in the Private Placement, market fundamentals will result in sustained copper and precious
metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection
with the future development of the Company's projects in a timely manner, the availability of financing on suitable
terms for the development, construction and continued operation of such projects and the ability to comply with
environmental, health and safety laws.
Forward-looking statements involve known and unknown ri sks, uncertainties and other factors which may cause the
actual results, performance or achievements of the Company to differ materially from any future results,
performance or achievements expressed or implied by the forward- looking information. Such ris ks and other
factors include, among others, requirements for additional capital, actual results of exploration activities, including
on the Escalones Project and the Cristal Project, the reasonability of the economic assumptions at the basis of the
results of the PEA for the Zonia Project, the estimation or realization of mineral reserves and mineral resources ,
future prices of copper, changes in general economic conditions, changes in the financial markets and in the
demand and market price for commodities , lack of investor interest in the Private Placement, accidents, labour
disputes and other risks of the mining industry, delays in obtaining governmental approvals (including acceptance
of the Proposed Transaction, the Private Placement and the Consolidation by the TSXV), permits or financing or in
World Copper Ltd. - 4 - September 30, 2021
NR21-20 Continued
the completion of development or construction activities, risks relating to epidemics or pandemics such as
COVID-19, including the impact of COVID -19 on the Company's business, financial condition and results of
operations, changes in laws, regulations and policies affecting mining operations, title disputes, the timing and
possible outcome of any pending litigation, environmental issues and liabilities, as well as the risk factors described
in the Company's annual and quarterly management's discussion and analysis and in other filings made by the
Company with Canadian securities regulatory authorities under the Company's profile at www.sedar.com.
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.