- World Copper Ltd. (WCU) and Cardero Resource Corp. (CDU) have completed the previously announced plan of arrangement agreeing to combine both businesses
- A total of 29,389,236 common shares of World Copper have been issued to Cardero shareholders based on an exchange ratio of 0.200795
- Cardero has amalgamated with 1302172 B.C. Ltd. to become Zonia Holdings Corp., a subsidiary of World Copper
- World Copper now owns, controls, and directs over one share of Zonia Holdings, representing 100 per cent of the issued and outstanding shares
- Cardero Resource Corp. (CDU) is unchanged trading at $0.16 per share as of 3:05 p.m. EST
- World Copper Ltd. (WCU) is down 7.14 per cent trading at $0.91 per share as of 3:07 p.m. EST
World Copper Ltd. (WCU) and Cardero Resource Corp. (CDU) have completed the plan of arrangement agreeing to combine both businesses.
A total of 29,389,236 common shares of World Copper have been issued to Cardero shareholders based on an exchange ratio of 0.200795.
Cardero has amalgamated with 1302172 B.C. Ltd. to become Zonia Holdings Corp., a subsidiary of World Copper.
Nolan Peterson, CEO of World Copper, stated
“The team at World Copper has been eagerly awaiting the addition of the Zonia property to our portfolio and we welcome the completion of this merger,”
Zonia is in Arizona consisting of 261 mineral claims, and 566.85 acres of surface rights acquired totalling 4,279.55 acres.
In connection with the arrangement, Robert Kopple and Keith Henderson have been appointed as directors of World Copper.
Kopple is involved in a broad range of corporate financing activities with public companies and is a significant investor in World Copper.
Henderson is a mining industry executive with 25 years of experience throughout Africa, Europe, and North and South America.
World Copper now owns, controls, and directs over one share of Zonia Holdings, representing 100 per cent of the issued and outstanding shares.
Cardero Resource Corp. (CDU) is unchanged trading at $0.16 per share as of 3:05 p.m. EST.
World Copper Ltd. (WCU) is down 7.14 per cent trading at $0.91 per share as of 3:07 p.m. EST.