(TheNewswire)
Vancouver, British Columbia – TheNewswire - November 18, 2022 – Consolidated Woodjam CopperCorp. (TSXV:WCC) (“ Woodjam ”) is pleased to announce that its shareholders haveapproved the previously announced plan of arrangement (the “ Arrangement ”) with Vizsla CopperCorp. (“ Vizsla Copper ”).
At a special general meeting of Woodjam’sshareholders held on November 17, 2022, 57,493,195 WoodjamShares were voted, representing 40.67% of the outstanding Woodjam Shares, asdetailed below:
Votes For | Votes Against | |||
Number of Votes | % of Votes Cast | Number of Votes | % of Votes Cast | |
Shareholder Approval | 57,048,599 | 99.23% | 444,596 | 0.77% |
Minority Approval (1) | 57,046,145 | 99.22% | 447,050 | 0.78% |
Note:
(1) Excluding votes required to be excludedpursuant to Multilateral Instrument 61-101 – Protection of MinoritySecurity Holders in Special Transactions.
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 remains subject to the satisfactionor waiver of customary closing conditions, including receipt of afinal court order from the Supreme Court of British Columbia. Following the completion of the Arrangement, the common shares ofWoodjam are expected to be delisted from the TSX Venture Exchange. Anapplication is also expected to be made for Woodjam to cease to be areporting issuer in the applicable jurisdictions upon closing of theArrangement.
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.
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 and Woodjam’s information circular, which is available onWoodjam’s company profile on SEDAR at www.sedar.com .
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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