Plata Latina and World Copper Announce Acquisition of the Zonia Project by Plata Latina and Concurrent $17 Million Financing to Create a Development-Focused Copper Company to be Named "Edge Copper Corporation"

Core Viewpoint - Plata Latina Minerals Corporation and World Copper Ltd. have announced a definitive agreement for Plata Latina to acquire the Zonia Copper Project in Arizona, with a total transaction value of approximately $22 million, which includes $10.5 million in cash and shares, and a concurrent financing of $17 million to support the acquisition and development of the project [2][3][5]. Transaction Details - The acquisition will be executed through a court-approved plan of arrangement, with World Copper receiving $10.5 million in cash and shares that will result in them owning approximately 31.3% of Plata Latina post-transaction [3][4]. - The transaction implies a value of approximately $0.085 per share of World Copper, representing a premium of about 40% to the five-day volume-weighted average price and 71% to the 20-day volume-weighted average price as of July 22, 2025 [3][4]. - World Copper shareholders will receive approximately 0.3930 of a Plata Latina share for each World Copper share [4]. Financing and Development Plans - The concurrent financing involves a non-brokered private placement of units at a price of $0.10 per unit, aiming for gross proceeds of $17 million, which will be used for the cash consideration and to fund exploration and development of the Zonia project [5][22]. - The Zonia Copper Project is a past-producing open-pit mine that is expected to produce pure copper cathode on-site, with significant exploration potential on additional claims [7][8]. Strategic Importance - The acquisition positions Plata Latina as a development-focused copper company, enhancing its ability to meet domestic demand for critical minerals in the U.S. [8]. - Zonia is located in Arizona, the largest copper producer in the U.S., which is strategically important for future resource development [9]. Management and Governance - Following the transaction, Plata Latina will appoint two directors from World Copper to its board, and the leadership team will include Gilmour Clausen as CEO and Letitia Wong as President [11]. - Both companies' boards have unanimously recommended the transaction to their respective shareholders [14][15]. Regulatory and Approval Process - The transaction requires approval from a two-thirds majority of World Copper shareholders and a majority of Plata Latina shareholders, along with customary closing conditions [17][20]. - The transaction is expected to close in October 2025, subject to regulatory approvals and completion of the concurrent financing [20].