World Copper Announces Shares for Debt Settlement

World Copper Ltd. (TSXV: WCU) (OTCID: WCUFF) (FSE: 7LY) (" World Copper " or the " Company ") announces that it has entered into shares for debt settlement agreements with two current directors of the Company and a service provider of the Company (collectively, the " Creditors ") whereby, subject to acceptance for filing by the TSX Venture Exchange (the " Exchange "), the Company will issue an aggregate of 20,900,000 common shares in the capital of the Company (each, a " Settlement Share "), at a deemed price of $0.01 per Settlement Share, in consideration for the settlement of an aggregate of $209,000 owing to the Creditors (the " Debt Settlements "). The Company proposed the Debt Settlements to assist it with preserving its cash for working capital. The Settlement Shares will be subject to a four month and one day statutory hold period from the date of issuance in Canada. Closing of the Debt Settlements is also subject to customary closing conditions, including the acceptance for filing of the Debt Settlements by the Exchange. The issuance of the Settlement Shares to the Creditors will constitute a related party transaction under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (" MI 61-101 "). The Company is relying on Sections 5.5(a) and 5.7(1)(a) of MI 61-101 for an exemption from the formal valuation and minority shareholder approval requirements, respectively, as, at the time the Debt Settlements were agreed to, the fair market value of the Settlement Shares to be issued to the Creditors did not exceed 25% of the Company's market capitalization.

World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of the Brassie Creek project, a porphyry-skarn copper and gold property located in Southern BC, covering an area of approximately 1,861 hectares and lo...