Western Metallica Announces Amended Bridge Financing and Director Resignation
WESTERN METALLICA ANNOUNCES AMENDED
BRIDGE FINANCING AND DIRECTOR RESIGNATION
TORONTO, ONTARIO – March 26, 2025 – Western Metallica Resources Corp. (TSXV: WMS)
(“Western Metallica ” or the “ Company”) announces that it has amended its previously
announced bridge financing (see press release dated January 16, 2025) for an increased amount
of up to CDN$300,000 (the "Amended Bridge Loan") from Gregory Duras, Chief Executive Officer
and Director of the Company (the "Lender") . To date, the Company has drawn down
CDN$230,000. All other terms of the Amended Bridge Loan are unchanged.
The Amended Bridge Loan constitutes a "related party transaction" under Multilateral Instrument
61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61 -101") as the
Lender is a related party (as defined in MI 61 -101) of the Company. The Company is relying on
the exemptions from the valuation and minority shareholder approval requirements of MI 61-101
contained in sections 5.5(a) and (b) and 5.7(1)(f) of MI 61-101.
The Company is expected to require additional financing to satisfy the Company's obligations as
they become due.
Director Resignation
The Company also announces that Mr. Paul Pearson has resigned from the Board of Directors.
About Western Metallica Resources Corp.
Western Metallica is an Ontario registered company with its head office in Toronto, Ontario, trading
on the TSX Venture Exchange under symbol WMS. Western Metallica is in the business of mineral
resource exploration and development and holds the option to acquire a 100% interest in the Caña
Brava copper-molybdenum project located in La Libertad Department, Peru. Western Metallica is
also advancing its 100% owned Nueva Celti Copper Property in the Ossa Morena belt in Andalusia,
Spain, and three other Spanish gold projects in the “Navelgas Gold Belt” in Asturias, Spain
(Penedela, Valledor and Sierra Alta).
Further information of the Company can be found at: www.westernmetallica.com
For more information please contact:
Western Metallica Resources Corp.
Gregory Duras
Chief Executive Officer
Email: [email protected]
Investor Relations
Email: [email protected]
Cautionary Notes
The TSXV has neither approved nor disapproved the contents of this press release. Neither the 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 press release.
This press release contains statements that constitute “forward -statements.” Such forward looking
statements involve known and unknown risks, uncertainties and other factors that may cause the Company’s
actual results, performance or achievements, or developments to differ materially from the anticipated results,
performance or achievements expressed or implied by such forward-looking statements.
Although the Company believes, in light of the experience of its officers and directors, current conditions and
expected future developments and other factors that have been considered appropriate that the expectations
reflected in this forward -looking information are reasonable, undue reliance should not be placed on them
because the Company can give no assurance that they will prove to be correct. When used in this press
release, the words “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or
“should” and the negative of these words or such variations thereon or comparable terminology are intended
to identify forward -looking statements and information. The forward -looking statements and information in
this press rel ease include information relating to the planned drill program and the development of the
Company’s projects and other mining projects and prospects thereof, the impact of the management
additions on the Company; and the potential and economic viability of the Caña Brava Project. Such
statements and information reflect the current view of the Company. Risks and uncertainties that may cause
actual results to differ materially from those contemplated in those forward -looking statements and
information.
By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors
which may cause our actual results, performance or achievements, or other future events, to be materially
different from any future results, performance or achievements expressed or implied by such forward-looking
statements.
The forward-looking information contained in this news release represents the expectations of the Company
as of the date of this news release and, accordingly, is subject to change after such date. Readers should
not place undue importance on forward -looking information and should not rely upon this information as of
any other date. The Company undertakes no obligation to update these forward -looking statements in the
event that management’s beliefs, estimates or opinions, or other factors, should change.