WCC:CC - Consolidated Woodjam Copper Corp. Provides Update on Effective Date of Plan of Arrangement with Vizsla Copper Corp.
(TheNewswire)
Vancouver, British Columbia – TheNewswire - December 8, 2022 – Consolidated Woodjam Copper Corp. (TSXV:WCC) (“ Woodjam ”) is pleased to announcethat both Woodjam and Vizsla Copper Corp. ( “Vizsla Copper”) have obtainedfinal approval from the TSX Venture Exchange ( “TSXV” ) regarding the previouslyannounced acquisition of all of the issued and outstanding commonshares of Woodjam (the “ WoodjamShares ”) by Vizsla Copper pursuant to a plan of arrangement(the “ Arrangement ”). TheArrangement is expected to be completed on or about December 13, 2022.
Woodjam is engaged in copper, gold, and molybdenumexploration and development on the Woodjam project (the“ Woodjam Project ”) incentral British Columbia. The Woodjam Project is located near thecommunity of Horsefly, approximately 55 kilometers east of theregional center of Williams Lake, British Columbia.
Pursuant to the terms of the Arrangement, immediatelyprior to the effective time of the Arrangement, Vizsla Copper willcomplete a consolidation (the “ Consolidation ”) of its common shares (the“ Vizsla CopperShares ”) on the basis of onepost-consolidation Vizsla Copper Share for every 3.5 Vizsla CopperShares issued and outstanding immediately prior to theConsolidation.
Under the terms of the arrangement agreement datedSeptember 7, 2022 between Vizsla Copper and Woodjam (the“ ArrangementAgreement ”), all of the issued and outstandingWoodjam Shares will be exchanged for Vizsla Copper Shares on the basisof 0.307206085 Vizsla Copper Shares for each Woodjam Share. Pursuantto the Arrangement, Vizsla Copper expects to issue an aggregate ofapproximately 43,417,026 Vizsla Copper Shares to Woodjam shareholders.Upon completion of the Arrangement, current Woodjam shareholders willown approximately 65% of the 66,795,425 issued and outstanding VizslaCopper Shares.
The Arrangement was previously approved by the Woodjamshareholders on November 17, 2022 and the Supreme Court of BritishColumbia on November 23, 2022. Following completion of theArrangement, the Woodjam Shares are expected to be delisted from theTSXV. An application is also expected to be made for Woodjam to ceaseto be a reporting issuer in the applicable jurisdictions upon closingof the Arrangement.
For additional information regarding the Arrangementand related matters, readers are encouraged to review VizslaCopper’s and Woodjam’s respective news releases dated September 8,2022, November 18, 2022, November 24, 2022 and Woodjam’s informationcircular, which is available on Woodjam’s company profile on SEDARat www.sedar.com .
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ABOUT VIZSLA COPPER
Vizsla Copper is a mineral exploration anddevelopment company focused on its interests in three British Columbiacopper projects; the Blueberry project, the Carruthers Pass project,and, following closing of the Arrangement, the Woodjam Project.
Glen Garratt, P. Geo., is the qualified person who takesresponsibility for this news release.
Glen Garratt
Glen Garratt, P.Geo., VP, Director
Consolidated Woodjam Copper Corp.
Neither the TSX Venture Exchangenor its Regulation Services Provider (as that term is defined in thepolicies of the TSX VentureExchange) accepts responsibility for the adequacy or accuracy of thisrelease.
Forward-Looking Information
This news release contains “forward-lookinginformation” within the meaning of applicable Canadian securitieslegislation. Generally, forward-looking information can be identifiedby the use of forward-looking terminology such as “anticipate”,“believe”, “plan”, “expect”, “intend”, “estimate”,“forecast”, “project”, “budget”, “schedule”,“may”, “will”, “could”, “might”, “should” orvariations of such words or similar words or expressions. Forward-looking information is based on reasonable assumptions that have been made byConsolidated Woodjam Copper Corp. as at the date of such information and is subjectto known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Consolidated Woodjam Copper Corp. to be materially different from those expressed orimplied by such forward-looking information. There can be no assurancethat such information will prove to be accurate, as actual results andfuture events could differ materially from those anticipated insuch
information. Accordingly, readers should not place undue reliance on forward-looking information Consolidated Woodjam Copper Corp. does not undertake to update any forward-lookinginformation that is included herein, except in accordance withapplicable securities laws.
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