Woodjam Copper Shareholders Approve Arrangement with Vizsla Copper
Vancouver, British Columbia -- November 18, 2022 -- NewsGenie -- Consolidated Woodjam Copper Corp. (TSXV:WCC) has announced that its shareholders have approved the plan of arrangement with Vizsla Copper Corp.
At a special general meeting on November 17, 2022, 57,493,195 Woodjam Shares were voted, representing 40.67% of the outstanding shares. Of those, 99.23% voted in favor of the arrangement.
| Votes For | Votes Against | |
|---|---|---|
| Number of Votes | 57,048,599 | 444,596 |
| % of Votes Cast | 99.23% | 0.77% |
Vizsla Copper will consolidate its common shares on a 1-for-3.5 basis. Under the terms, Woodjam Shares will be exchanged for Vizsla Copper Shares at a rate of 0.307206085 Vizsla Copper Shares for each Woodjam Share. Vizsla Copper expects to issue approximately 43,417,026 shares to Woodjam shareholders. Upon completion, Woodjam shareholders will own about 65% of the 66,795,425 issued and outstanding Vizsla Copper Shares.
The arrangement is subject to customary closing conditions, including a final court order from the Supreme Court of British Columbia. Woodjam's common shares are expected to be delisted from the TSX Venture Exchange, and an application will be made for Woodjam to cease being a reporting issuer.
Woodjam is focused on copper, gold, and molybdenum exploration and development on the Woodjam Project in central British Columbia, near Horsefly, about 55 kilometers east of Williams Lake.
Vizsla Copper is focused on its interests in three British Columbia copper projects; the Blueberry project, the Carruthers Pass project, and the Woodjam Project, following closing of the Arrangement.
Glen Garratt, P. Geo., VP, Director of Consolidated Woodjam Copper Corp., is the qualified person taking responsibility for the release.