World Copper Closes Over-Subscribed $6.4 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-21-26 October 28, 2021
World Copper Closes Over-Subscribed $6.4 Million
Non-Brokered Private Placement
FOR IMMEDIATE RELEASE...Vancouver, British Columbia: World Copper Ltd. (" World
Copper" or the "Company"; TSXV: WCU, OTCQB: WCUFF) 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 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.
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 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 - October 28, 2021
NR21-26 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 June 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 sam pling. 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 mineral 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 - October 28, 2021
NR21-26 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 the completion of development or
construction activities, risks relating to epidemics or pandemics such as COVID -19, including the impact of
World Copper Ltd. - 4 - October 28, 2021
NR21-26 Continued
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 Comp any'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 forw ard-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.