World Copper Reports Annual and Special General Meeting Results

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Cancels and grants incentive stock options

Vancouver, British Columbia–(Newsfile Corp. – September 30, 2022) – World Copper Ltd. (TSXV: WCU) (OTCQX: WCUFF) (FSE: 7LY0) – (“copper of the world“) reports that its shareholders have approved all matters voted on at the annual general and special meeting held on September 27, 2022 (the “AGSM“).

Results of the annual and extraordinary general meeting

A total of 31,525,821 common shares were represented in person or by proxy at the AGSM, representing 29.41% of the issued and outstanding common shares of the Company. All of the directors named in the management information circular dated August 15, 2022 were re-elected, and the AGSM voting results are shown in the table below.

Movement

For

Versus

Abstention/
Withheld

Number of directors

31,507,950 (99.96%)

11,204 (0.04%)

Hendrik van Alphen

31,513,813 (99.98%)

5341 (0.02%)

Patrick James Burns

30,718,965 (97.46%)

800,189 (2.54%)

Timothy McCutcheon

30,719,667 (97.46%)

799,487 (2.54%)

Roberto Fréraut

30,723,698 (97.48%)

795,456 (2.52%)

Robert Köpple

30,326,479 (96.22%)

1,192,675 (3.78%)

Appointment of auditors

31,519,154 (100.00%)

Ratification and approval of the amended stock option plan

30,282,658 (96.08%)

1,236,496 (3.92%)

Approval of the new statutes of the company

24,296,039 (77.08%)

7,223,115 (22.92%)

Cancellations and Grants of Stock Options

The Company announces that it has canceled a total of 4,585,000 incentive stock options originally granted under the Company’s Rolling Stock Option Plan to certain directors, officers, employees and consultants of the Company on January 31, 2022, and exercisable until February 1, 2024, at an exercise price of $0.91.

The Company also reports that, subject to applicable shareholder and TSX Venture Exchange approvals, the Company has granted incentive stock options under the Amended Stock Option Plan to certain directors, officers, employees and consultants of the Company to purchase up to 4,755,000 common shares of the capital stock of the Company. The options can be exercised no later than September 30, 2025 at a price of $0.27 per share. Under the Amended Stock Option Plan, the Company may grant up to a total of 11,246,172 stock options and, after the grant of the aforementioned stock options , the Company will have 491,172 stock options available for grant under the plan.

ABOUT WORLD COPPER LTD.

World Copper Ltd., headquartered in Vancouver, British Columbia, is a Canadian resource company focused on the exploration and development of its two major copper porphyry projects, Escalones and Cristal, both located in Chile. World Copper has claimed four copper porphyry targets, one with estimated resources, significant soluble copper mineralization and attractive potential to expand the resource base.

The World Copper team has a unique skill set in navigating the mining sector in Chile, with some members having worked in the country for over 40 years and with discovery success.

Detailed information is available on the company’s website at www.worldcopperltd.com, and for general company updates, you can follow us on our social media pages via Facebook, Twitter and LinkedIn.

For further details on the Company, readers are referred to the Company’s website. To view the Company’s Canadian regulatory filings, please visit SEDAR.

On behalf of the Board of Directors of

WORLD COPPER LTD.

Nolan Peterson

Nolan Peterson
Chief executive officer

For more information or to schedule a Zoom meeting with management, please contact:
Nolan Peterson or Michael Pound
Phone: 604-638-3287
Email: [email protected]

For any inquiries relating to investor relations, 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 the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Caution Regarding Forward-Looking Statements

This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including, without limitation, the Company’s anticipated business plans and schedule of future activities, are forward-looking statements. Although the Company believes these statements to be reasonable, it cannot guarantee that these expectations will prove to be correct. Forward-looking statements are generally identified by words such as: “believes”, “expects”, “anticipates”, “intends”, “estimates”, “plans”, “may”, “should”, “should”, “”, “potential”, “expected” or variations of these words and similar phrases and expressions, which by their nature refer to future events or results which may, might, might or will occur. occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors that 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.These risks and other factors include, among others, statements regarding the Company’s anticipated business plans and timing of future activities, the Company’s ability to obtaining sufficient financing to fund its operations and business plans, delays in obtaining government and regulatory (including TSX Venture Exchange) approvals, permits or financing, changes in laws, regulations and policies affecting mining operations , currency fluctuations, litigation or claims of title, environmental issues and liabilities, risks related to epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the business, financial condition and results of operation of the Company, changes in laws, regulations and policies affecting mining operations, title disputes, the Company’s failure to obtain necessary permits, consents, approvals or authorizations, the timing and outcome possible of any pending litigation, environmental issues and liabilities, and risks related to joint ventures and a Other risks and uncertainties disclosed in the Company’s continuous disclosure documents. All of the Company’s Canadian public filings are available through www.sedar.com and readers are encouraged to consult such filings.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any forward-looking statements contained in this press 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/139162

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