World Copper Announces Receipt of Court Approval for the Sale of the Zonia Project

Rhea-AI Summary

World Copper (OTCQB: WCUFF) announced that the Supreme Court of British Columbia granted a final order approving the previously disclosed arrangement under which Plata Latina will acquire the Zonia Copper Project in Arizona.

The Arrangement was earlier approved by World Copper shareholders on October 16, 2025. Assuming remaining conditions in the July 22, 2025 arrangement agreement are satisfied or waived, including TSXV approval, the company expects the Transaction to close in the coming days and will notify shareholders of the specific closing date.

Further details are in the Joint Management Information Circular dated September 12, 2025 filed on SEDAR+.

Positive

• Supreme Court of British Columbia granted a final order approving the Arrangement
• Shareholders approved the Arrangement at the October 16, 2025 special meeting
• Company expects the Transaction to close in the coming days pending remaining conditions

Negative

• Closing remains subject to unsatisfied conditions in the arrangement agreement
• Transaction requires TSXV approval, creating closing timing uncertainty
• No specific closing date announced, so timing and finality are still uncertain

Vancouver, British Columbia--(Newsfile Corp. - October 24, 2025) - World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company") is pleased to announce that the Supreme Court of British Columbia has granted the final order approving the previously announced arrangement (the "Arrangement") whereby Plata Latina Minerals Corporation ("Plata Latina") will acquire the Zonia Copper Project in Arizona from World Copper by way of a court-approved plan of arrangement (the "Transaction"). As previously announced, the Arrangement was approved by World Copper shareholders at the special meeting of shareholders held on October 16, 2025.

Assuming all remaining conditions set out in the arrangement agreement between World Copper and Plata Latina dated July 22, 2025 are either satisfied or waived, including the approval of the TSX Venture Exchange (the "TSXV"), World Copper expects that the closing of the Transaction will occur in the coming days, and will notify shareholders in advance of the specific closing date once available. Further information on the Arrangement can be found in the Joint Management Information Circular of Plata Latina and World Copper dated September 12, 2025 (the "Joint Circular"), filed on the Company's SEDAR+ profile at www.sedarplus.ca.

About World Copper Ltd.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of its Zonia copper project in Arizona.

Detailed information is available at World Copper's website at www.worldcopperltd.com, and for general Company updates you may follow us on our social media pages via Facebook, X & LinkedIn.

For further information, please contact:

Gordon Neal
President & Chief Executive Officer
Telephone: 604-638-3287
Email: info@worldcopperltd.com

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. All statements, other than statements of historical fact, included herein including, without limitation, statements regarding the completion of the Arrangement, including the satisfaction or waiver of the conditions precedent to the Arrangement, receipt of the approval of the TSXV in respect of the Arrangement, and the timing of the completion of the Arrangement, 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 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, World Copper has applied several material assumptions, including without limitation, that market fundamentals will result in sustained copper demand and prices, the receipt of any necessary permits, licences and regulatory approvals in connection with the Arrangement in a timely manner, the availability of financing on suitable terms for the continued operation of World Copper's business and its ability to comply with environmental, health and safety laws.

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, the Company's inability to source new assets, the Company may be exposed to risks to which Plata Latina is exposed, the Company is subject to public issuer compliance and listing obligations, the Company could be liable for a termination payment in certain circumstances, prior to the completion of the Arrangement the Company is restricted from taking certain actions, the Arrangement may divert management's attention, the Company will incur substantial transaction costs in connection with the Arrangement and if the Arrangement is not completed the costs may be significant and could have a material adverse effect on the Company, requirements 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 of the TSXV), permits or financing or in the completion of other planned activities, risks relating to epidemics or pandemics, including impacts 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 Joint Circular 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/271772

FAQ

What did World Copper (WCUFF) receive from the court on October 24, 2025?

The Supreme Court of British Columbia granted a final order approving the Arrangement for the sale of the Zonia project.

Has World Copper shareholder approval been obtained for the Zonia sale (WCUFF)?

Yes; shareholders approved the Arrangement at the special meeting held on October 16, 2025.

When will the WCUFF transaction closing occur?

The company expects closing to occur in the coming days once remaining conditions are satisfied or waived and will notify shareholders of the date.

What remaining approvals does the Zonia Transaction (WCUFF) need before closing?

Closing is subject to the remaining conditions in the arrangement agreement, including approval by the TSX Venture Exchange (TSXV).

Where can investors find full details of the World Copper–Plata Latina Arrangement for WCUFF?

Details are in the Joint Management Information Circular dated September 12, 2025, filed on SEDAR+.

Does the announcement state a change to World Copper’s operations after the Zonia sale (WCUFF)?

The announcement confirms the approved sale of the Zonia project and that closing is expected pending conditions; no additional operational changes or financial terms are disclosed.