World Copper Announces Shareholder Approval for the Sale of the Zonia Project

Rhea-AI Summary

World Copper (OTCQB: WCUFF) reported that shareholders approved the sale of the Zonia Copper Project to Plata Latina by special resolution at the October 16, 2025 meeting, with 99.28% of votes in favour (99.28% excluding TSXV policy exclusions; 98.73% excluding MI 61-101 votes).

Plata Latina shareholders also approved the transaction on October 16, 2025. Closing is expected in late October 2025, subject to court approval and TSX Venture Exchange approval. World Copper terminated its ATM program after issuing 12,412,000 shares and raising gross proceeds of $423,142 from July 1, 2025 to September 17, 2025; BMO fees were $12,694. No new insider or control person was created via the ATM.

Positive

• Shareholder approval: 99.28% votes in favour
• Plata Latina shareholder approval secured on Oct 16, 2025
• ATM proceeds: $423,142 gross from 12,412,000 shares
• No new insider or control person created via ATM

Negative

• Transaction closing conditional on court approval and TSXV approval
• ATM program terminated after issuing 12,412,000 shares
• ATM fees paid to BMO: $12,694

Provides ATM Quarterly Report

Vancouver, British Columbia--(Newsfile Corp. - October 20, 2025) - World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company") is pleased to report that World Copper shareholders have approved the resolution put forth at the special meeting of shareholders held on October 16, 2025 (the "World Copper Meeting") approving the previously announced transaction between World Copper and Plata Latina Minerals Corporation ("Plata Latina") pursuant to which Plata Latina will acquire the Zonia Copper Project in Arizona from World Copper by way of a court-approved plan of arrangement (the "Transaction").

World Copper Meeting

At the World Copper Meeting, the special resolution approving the Transaction was approved by 99.28% of the votes cast by shareholders in person or represented by proxy at the World Copper Meeting; 98.73% of the votes cast by shareholders in person or represented by proxy at the World Copper Meeting, excluding the votes cast by persons required to be excluded by Multinational Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"); and 99.28% of the votes cast by shareholders in person or represented by proxy at the World Copper Meeting, excluding the votes cast by persons required to be excluded by the corporate finance policies of the TSX Venture Exchange. The parties whose votes were excluded under MI 61-101 were Gordon Neal, Robert Kopple (and his associated entities), and the Robert and Carole Kopple Grandchildren's Trust (2007).

Transaction Updates

World Copper is also pleased to announce that shareholders of Plata Latina have approved the resolutions put forth at the special meeting of Plata Latina shareholders held on October 16, 2025, in relation to the Transaction.

Assuming all remaining conditions set out in the arrangement agreement between World Copper and Plata Latina dated July 22, 2025 (the "Arrangement Agreement") are either satisfied or waived, including receipt of court approval and the approval of the TSX Venture Exchange, World Copper expects that the closing date of the Transaction will occur in late October, 2025.

Complete details of the Transaction are included 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.

ATM Quarterly Results/Termination

World Copper reports that, in accordance with the policies of the TSX Venture Exchange, Section 1.3(c) of Policy 4.2, and further to the at-the-market ("ATM") offering of shares made pursuant to the Prospectus Supplement dated July 17, 2024, World Copper issued 12,412,000 common shares and raised gross proceeds of $423,142 pursuant to ATM distributions during the period July 1, 2025 to termination of the ATM on September 17, 2025. Bank of Montreal ("BMO") received fees of $12,694 during the period. We confirm that no new Insider or Control Person (as defined in Policy 1.1), has been or was created in connection with the ATM offering.

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 Transaction, including the satisfaction or waiver of the conditions precedent to the Transaction, receipt of court approval and the approval of the TSX Venture Exchange in respect of the Transaction, the timing of the completion of the Transaction and the expected outcomes of the completion thereof, including their anticipated benefits to World Copper shareholders, 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.

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 expectations and beliefs of World Copper that the Transaction will be completed in accordance with the Arrangement Agreement, that all required regulatory consents (including the approval of the TSX Venture Exchange) and court and shareholder approvals will be obtained and all other conditions to completion of the Transaction will be satisfied or waived, risks associated with required regulatory approvals, the Company's inability to source new assets, 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 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 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 discussed in the Joint Circular and 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.

The foregoing list of material factors and assumptions is not exhaustive. 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/271021

FAQ

What vote approved the sale of the Zonia Project by World Copper (WCUFF)?

Shareholders approved the sale by special resolution with 99.28% of votes cast in favour at the October 16, 2025 meeting.

When is the World Copper (WCUFF) Zonia Project sale expected to close?

World Copper expects the Transaction to close in late October 2025, subject to court and TSXV approvals.

How much did World Copper (WCUFF) raise via its ATM from July 1 to Sept 17, 2025?

World Copper raised gross proceeds of $423,142 from the ATM by issuing 12,412,000 common shares.

Were any new insiders created through World Copper's ATM offering (WCUFF)?

No; World Copper confirmed that no new Insider or Control Person was created in connection with the ATM offering.

Which approvals remain required before the Zonia Project transaction closes for WCUFF?

Closing remains conditional on receiving court approval and the approval of the TSX Venture Exchange.