Source: World Copper.
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  • World Copper (WCU) has closed its oversubscribed C$6.4 million non-brokered private placement
  • The company issued 16,223,921 units for aggregate gross proceeds of $6,489,568.50
  • It will use the proceeds for exploration of its Escalones and Cristal properties in Chile, as well as for general working capital
  • World Copper is a Canadian resource company focused on the exploration and development of copper porphyry projects in Chile and the United States
  • World Copper (WCU) closed up by 17.17 per cent trading at $0.58 per share

World Copper (WCU) has closed its previously announced, oversubscribed C$6.4 million non-brokered private placement.

The company issued 16,223,921 units for aggregate gross proceeds of $6,489,568.50.

Each unit consists of one World Copper common share and one-half of one common share purchase warrant.

Each warrant entitles the holder to acquire one additional World Copper share for $0.60 for two years from the date of issuance, subject to acceleration.

World Copper will use the proceeds for exploration of its Escalones and Cristal properties in Chile, as well as for general working capital.

The Escalones Project has estimated inferred resources of 426 million tonnes of 0.367-per-cent copper.

Previous airborne magnetics, gravity and EM studies along with limited drilling at Cristal were prospective for the potential discovery of a buried porphyry copper deposit. The company plans to follow up on this initial exploration work, focusing on the area where a series of large coincident geophysical anomalies were previously identified. 

World Copper is a Canadian resource company focused on the exploration and development of copper porphyry projects in Chile and the United States.

World Copper (WCU) closed up by 17.17 per cent trading at $0.58 per share.

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