World Copper Terminates Letter Agreement
World Copper Ltd. (OTCQB: WCUFF) announced the termination of a letter agreement dated February 12, 2025, which was originally intended for the sale of its Zonia copper project in Yavapai County, Arizona, to a European-based metals and mining investment manager. The company confirmed that no funds were advanced to the purchaser during the agreement period, and no break fee has been paid by World Copper to the purchaser at this time. The Zonia project, located in the Walnut Grove Mining District, will remain under World Copper's ownership following this terminated deal.
World Copper Ltd. (OTCQB: WCUFF) ha annunciato la risoluzione di una lettera di accordo datata 12 febbraio 2025, originariamente prevista per la vendita del suo progetto di rame Zonia nella contea di Yavapai, Arizona, a un gestore europeo di investimenti nel settore dei metalli e delle miniere. L'azienda ha confermato che durante il periodo dell'accordo non sono stati anticipati fondi all'acquirente e che al momento World Copper non ha pagato alcuna penale di risoluzione all'acquirente. Il progetto Zonia, situato nel distretto minerario di Walnut Grove, rimarrà di proprietà di World Copper dopo la cancellazione di questo accordo.
World Copper Ltd. (OTCQB: WCUFF) anunció la terminación de una carta de acuerdo fechada el 12 de febrero de 2025, que originalmente estaba destinada a la venta de su proyecto de cobre Zonia en el condado de Yavapai, Arizona, a un gestor europeo de inversiones en metales y minería. La compañía confirmó que no se adelantaron fondos al comprador durante el período del acuerdo y que World Copper no ha pagado ninguna tarifa de cancelación al comprador hasta el momento. El proyecto Zonia, ubicado en el distrito minero de Walnut Grove, permanecerá bajo propiedad de World Copper tras la terminación de este acuerdo.
World Copper Ltd. (OTCQB: WCUFF)는 2025년 2월 12일자로 체결된 서한 계약을 종료했다고 발표했습니다. 이 계약은 원래 애리조나 주 야바파이 카운티에 위치한 Zonia 구리 프로젝트를 유럽 기반 금속 및 광산 투자 매니저에게 매각하기 위한 것이었습니다. 회사는 계약 기간 동안 구매자에게 자금이 선지급되지 않았으며, 현재까지 World Copper가 구매자에게 위약금을 지급하지 않았음을 확인했습니다. Walnut Grove 광산 지구에 위치한 Zonia 프로젝트는 이번 계약 종료 후에도 World Copper의 소유로 남아 있습니다.
World Copper Ltd. (OTCQB : WCUFF) a annoncé la résiliation d'une lettre d'accord datée du 12 février 2025, initialement destinée à la vente de son projet cuivre Zonia dans le comté de Yavapai, Arizona, à un gestionnaire d'investissements européen spécialisé dans les métaux et l'exploitation minière. La société a confirmé qu'aucun fonds n'avait été avancé à l'acheteur pendant la période de l'accord et qu'aucun frais de rupture n'avait été versé par World Copper à l'acheteur à ce jour. Le projet Zonia, situé dans le district minier de Walnut Grove, restera la propriété de World Copper suite à la résiliation de cet accord.
World Copper Ltd. (OTCQB: WCUFF) gab die Beendigung einer Vereinbarung vom 12. Februar 2025 bekannt, die ursprünglich den Verkauf ihres Zonia-Kupferprojekts im Yavapai County, Arizona, an einen in Europa ansässigen Investmentmanager für Metalle und Bergbau vorsah. Das Unternehmen bestätigte, dass während der Laufzeit der Vereinbarung keine Gelder an den Käufer vorausgezahlt wurden und dass World Copper bislang keine Vertragsstrafe an den Käufer gezahlt hat. Das Zonia-Projekt im Walnut Grove Mining District bleibt nach der Beendigung dieses Deals im Besitz von World Copper.
- None.
- Failed sale of Zonia copper project to European investor
- Potential loss of monetization opportunity for the Arizona-based asset
Vancouver, British Columbia--(Newsfile Corp. - May 6, 2025) - World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0) ("World Copper" or the "Company") announces that, further to its news releases dated February 19, 2025 and April 10, 2025, the letter agreement dated February 12, 2025 (the "Letter Agreement") with a European based metals and mining investment manager ("Purchaser") to sell its interest in the Zonia copper project located in the Walnut Grove Mining District, Yavapai County, Arizona, has been terminated. No funds were advanced by the Company to the Purchaser in connection with the Letter Agreement. No break fee has been paid by World Copper to the Purchaser at this time.
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 productive 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.
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: 604-638-3287
Email: info@worldcopperltd.com
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
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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 Company's future plans, 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, 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 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/251017
FAQ
Why did World Copper (WCUFF) terminate the Zonia project sale agreement?
What is the financial impact of the terminated Zonia sale agreement on World Copper?
Where is World Copper's Zonia project located?
What happens to the Zonia copper project after the terminated sale?
