World Copper Receives Conditional TSXV Approval for Chile Spin-Out Transaction

SEATTLE (Scrap Monster): World Copper Ltd. has received conditional acceptance from the TSX Venture Exchange for its previously announced spin-out transaction involving its Chilean subsidiaries.

The proposed spin-out, considered as a major step forward in the company’s restructuring plan, will be completed through a court-approved plan of arrangement under British Columbia’s Business Corporations Act.

Under the terms of the transaction, World Copper will transfer all interests in its Chilean subsidiaries, along with certain related assets and liabilities, to a wholly owned subsidiary, Spinco. In return, World Copper shareholders will receive common shares of Spinco.

The shareholders will vote on approval of the arrangement at the upcoming company’s annual general and special shareholder meeting, scheduled for June 18, 2026. The approval will reduce World Copper’s outstanding common shares from approximately 262.9 million to about 13.1 million post-consolidation shares.

Completion of both the spin-out and consolidation remains subject to final TSXV approval, shareholder approval, and sanction by the Supreme Court of British Columbia. Furthermore, the company noted that the arrangement may not proceed if the consolidation is not completed as required under the amended arrangement agreement.