World Copper Extends Loans
#1570 - 200 Burrard Street
Vancouver, BC, Canada, V6C 3L6
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
NR24-12 August 21, 2024
World Copper Extends Loans
FOR IMMEDIATE RELEASE...Vancouver, British Columbia: World Copper Ltd. (" World Copper" or
the "Company"; TSXV: WCU, OTCQB: WCUFF, FSE:7LY0) announces that further to its news release
dated July 18, 2024, the TSX Venture Exchange (the "TSXV") has accepted the extension and amendment
of loans assumed by World Copper pursuant to a letter of amendment dated July 18, 2024
(the "Amendment") to a loan extension agreement made as of May 18, 2024 (the "Extension Agreement")
with E.L. II Properties Trust (the "Lender"). The loans were assumed by World Copper in connection with
the merger with Cardero Resource Corp. by plan of arrangement in January 2022 in the aggregate amount
of CAD $1,958,019.88 (based on a CAD – USD exchange rate of 1.3570 as of February 29, 2024)
(the "Loans") (see news release dated May 21, 2024).
Pursuant to the Amendment, the Company has agreed to issue the Lender a n aggregate of 7,251,925 non-
transferable bonus common share purchase warrants (each, a " Bonus Warrant "), each exercisable to
purchase one common share of the Company at an exercise price of CAD $0.135 per share (each, a "Bonus
Warrant Share") for a period of two years. The Bonus Warrants (and the Bonus Warrant Shares) will be
subject to a hold period of four months and one day in Canada from the date of issuance of the Bonus
Warrants. The terms of the Bonus Warrants restrict their exercise if doing so would result in the Lender,
together with any persons or companies acting jointly or in concert with the Lender and any of its affiliates,
beneficially owning, or exercising control or direction over, 20% or more of the total issued and outstanding
common shares of the Company, calculated on a partially diluted basis.
As the Lender is a trust controlled by Robert Kopple, a director of the Company, 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, of MI 61-101, as, at the time the Extension Agreement or Amendment were entered into by
the Company with the Lender, neither the fair market value of the subject matter of, nor the fair market
value of the transaction exceeded 25% of the Company's market capitalization.
ABOUT WORLD COPPER LTD.
World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the
exploration and development of its copper porphyry projects : Zonia in Arizona and Escalones in Chile .
Both projects have estimated resources with significant soluble copper mineralization, and they boast
exciting potential to expand the resource base. The company is dedicated to sustainable practices and
leveraging technology to develop safe and product ive mining operations in stable, mining -friendly
jurisdictions.
Detailed information is available at World Copper's website at https://worldcopperltd.com, and for general
Company updates you may follow us on our social media pages via Facebook, Twitter & LinkedIn.
World Copper Ltd. - 2 - August 21, 2024
NR24-12 Continued
#1570 - 200 Burrard Street
Vancouver, BC, Canada, V6C 3L6
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
On Behalf of the Board of Directors of
WORLD COPPER LTD.
"Gordon Neal"
Gordon Neal
President & Chief Executive Officer
For further information, or to schedule a Zoom meeting with Management, please contact:
Gordon Neal or Michael Pound
Phone: 604-638-3665
E-mail: [email protected]
For all Investor Relations inquiries, please contact:
John Liviakis
Liviakis Financial Communications Inc.
Phone: 415-389-4670
For all Public Relations inquiries, please contact:
Nancy Thompson
Vorticom, Inc.
Office: 212-532-2208 | Mobile: 917-371-4053
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 TSX V)
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, included herein including, without limitation, the issuance of the Bonus Warrants,
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 statements 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 s imilar expressions, which, by their nature,
refer to future events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking
statements involve known and unknown risks, 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 risks and other factors include, among
others, requireme nts for additional capital, actual results of exploration activities, including on the Company's
projects, 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 future financings, accidents, labour disputes and other risks of the mining industry, delays
in obtaining governmental approvals (including TSX Venture Exchange acceptance), 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 COVID-19 on the Company's business, financial condition and results of operations, changes
World Copper Ltd. - 3 - August 21, 2024
NR24-12 Continued
#1570 - 200 Burrard Street
Vancouver, BC, Canada, V6C 3L6
T: 604-638-3287 / F: 604-408-7499
www.worldcopperltd.com
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.sedarplus.ca.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake
any obligation to update any of the forward- looking statements in this news release or incorporated by reference
herein, except as otherwise required by law.