Vizsla Copper Corp. (TSXV: VCU| OTCQB: VCUFF | Frankfurt: 97E0) has entered into a definitive arrangement agreement with Universal Copper Ltd. (TSXV: UNV | Frankfurt: 3TA2) where it will acquire all of its issued and outstanding shares.
Universal is a Canadian-based copper exploration company focused on its flagship Poplar Project, one of the most advanced pre-production copper projects in British Columbia (BC), Canada.
Poplar currently hosts an indicated resource of 152.3Mt at 0.32% copper and an inferred resource of 139.3Mt at 0.29% copper. Along with copper the deposit also hosts molybdenum, silver, and gold. The project is large and well-located, comprising more than 39,000ha in a very accessible region in the central interior of BC.
“With unprecedented demand for copper globally on the horizon, I’m very pleased that we’ve been able to execute again on our strategy of acquiring promising assets during a period of challenging junior equity markets,” commented Vizsla executive chairman, Craig Parry.
“Poplar perfectly complements our other BC-based assets and will add incredible value due to its size, grade, and location in a safe and stable jurisdiction.”
The arrangement agreement has been unanimously approved by the board of directors of each of Vizsla Copper and UNV. The UNV board of directors has agreed to recommend that UNV shareholders vote in favour of the arrangement.
Vizsla will buy Universal’s shares based on a 0.23:1 share exchange ratio. Once the deal is complete, UNV shareholders will own roughly 23.3% of Vizsla’s outstanding share capital. UNV shareholders will vote on the offer at an upcoming meeting.
No material regulatory issues are expected to arise in connection with the arrangement that would prevent its completion, and all required regulatory approvals are expected to be obtained.
For further information, please visit: www.vizslacopper.com
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