World Copper Ltd. has initiated a non-brokered private placement seeking gross proceeds of up to $1,000,000 alongside a restructuring of its leadership team.

Under the offering, the company is issuing up to 13,333,333 units priced at $0.075 per unit. Each unit consists of one common share and one common share purchase warrant, with each warrant allowing the holder to buy an additional share at $0.10 for two years. The financing requires approval from the TSX Venture Exchange, and all issued securities will carry a statutory four-month hold period. Proceeds from the placement are earmarked for exploration work and general working capital.

Certain directors, officers, and insiders may participate in the offering, which constitutes a related party transaction under regulatory guidelines. The company intends to rely on exemptions from formal valuation and minority shareholder approval requirements based on the transaction size and exchange listing.

Alongside the financing, World Copper announced several board and management changes. Mark Lotz has resigned from his roles as President, Chief Executive Officer, and Director. Gareth Thomas has been appointed Executive Chair and a Director, while Shaun Pollard takes over as President, Chief Executive Officer, and a Director.

The corporate updates follow World Copper securing an exclusive option to acquire a 100% interest in the Brassie Creek porphyry-skarn copper-gold project, covering 1,861 hectares located approximately 50 kilometres west of Kamloops in British Columbia. Earlier in the year, the company completed a spin-out of its Chilean subsidiary interests and certain assets alongside a 20-for-1 share consolidation.

Meanwhile, exploration activity continues elsewhere in the region. Getty Copper Inc. reported drill results at the Getty South target, intersecting 68.5 metres grading 0.81% copper from a depth of 39.5 metres.

Read the full announcement: World Copper Announces Board and Management Changes; Non-Brokered Private Placement