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

The most recent news release, dated October 20, 2025, announces that World Copper's shareholders have overwhelmingly approved the sale of the Zonia Copper Project to Plata Latina Minerals Corporation. The approval was passed with 99.28% of votes cast in favor at a special meeting of shareholders.

The transaction is structured as a plan of arrangement and remains subject to final approval from the Supreme Court of British Columbia and the TSX Venture Exchange. The company anticipates the transaction will close in late October 2025.

Additionally, the release provides a final update on the company's At-The-Market (ATM) equity program, which has now been terminated. In the final period, the company issued 12,412,000 common shares for gross proceeds of $423,142 at an average price of $0.0341 per share.

The news is Material - Positive. While the shareholder approval was highly anticipated, it is a critical and mandatory step for the transformative sale of the company's flagship Zonia project. This approval removes a significant hurdle and substantially de-risks the transaction's path to completion.

This transaction is a lifeline for World Copper, which, based on its financial statements, was facing severe financial distress. The arrangement allows the company to divest its primary asset into a newly recapitalized entity (to be named Edge Copper Corp.), eliminate its significant debt load, and retain a non-operating interest through a share position.

For World Copper shareholders, the positive impact is twofold: 1. It avoids the likely alternative of insolvency or further catastrophic dilution. 2. It provides them with continued exposure to the Zonia project's upside through shares in the new, well-funded Edge Copper Corp., which will be better positioned to advance the asset.

The termination of the ATM program is also a consequence of this deal. The extremely low average sale price of $0.0341 in the final tranche underscores the company's desperate need for capital and its inability to raise funds on favorable terms prior to this transaction. Securing this deal allows them to stop this highly dilutive financing activity.

However, the "positive" rating is contingent on the successful closing of the transaction. The deal still requires court and exchange approval. This news confirms the deal is on track, but does not finalize it.

World Copper Ltd. is a Canadian junior mineral exploration and development company. Its primary asset has been the Zonia Copper-Oxide Project in Arizona, a brownfield, past-producing site positioned for a relatively low-cost, open-pit, heap leach operation. The company also holds the Escalones copper project in Chile, but its development has been stalled by the creation of a nature sanctuary, leading to a write-down of the asset's value.

The company's history shows a pivot from Escalones to prioritizing Zonia, followed by a strategic review in late 2024 due to poor market conditions. After a previously announced $26 million sale of Zonia to a European firm was terminated in May 2025, the company entered into the current arrangement to sell Zonia to Plata Latina Minerals.