World Copper investor KF's holdings rise to 16.4%
2024-04-22 18:21 ET - News Release
Mr. Robert Kopple of KF reports
EARLY WARNING PRESS RELEASE
KF Business Ventures LP (the acquiror) has made an announcement in accordance with National Instrument 62-103 -- The Early Warning System and Related Take-Over Bid and Insider Reporting and National Instrument 62-104 Take-Over Bids and Issuer Bids. Robert C. Kopple, EL II Properties Trust and Kopple Family LP may be considered joint actors with the acquiror.
The acquiror advises that on April 12, 2024, World Copper Ltd. closed the first tranche of its non-brokered private placement through the issuance of 53,015,112 units at a subscription price of seven cents per unit for gross proceeds of $3,711,058. Each unit consists of one common share in the capital of the company and one-half of one common share purchase warrant, with each warrant entitling the holder thereof to purchase one common share in the capital of the company at an exercise price of 17 cents per common share for a period of two years from the date of issuance.
Pursuant to the closing of the first tranche of the offering, the acquiror acquired beneficial ownership of, and control and direction over, 14,285,714 units for a purchase price of $1-million. The acquisition did not take place on a stock exchange or other market that represents a published market for securities.
Immediately prior to the completion of the acquisition, the acquiror beneficially owned and had control and direction over 14,904,695 common shares and 200,000 stock options representing approximately 11.92 per cent (12.06 per cent on a partially diluted basis) of the then issued and outstanding common shares. As a result of the acquisition, the acquiror beneficially owns and has control and direction over 29,190,409 common shares, 200,000 stock options and 7,142,857 warrants, representing approximately 16.40 per cent (19.71 per cent on a partially diluted basis) of the currently issued and outstanding common shares. The change in the acquiror's security holding percentage is 4.48 per cent (7.65 per cent on a partially diluted basis) of the issued and outstanding common shares.
The acquiror acquired the units for investment purposes. However, the acquiror will review its holdings from time to time and may, in the future, increase or decrease its ownership or control over securities of the company as circumstances dictate.
The acquiror will file an early warning report under the company's profile on the SEDAR+ website. A copy of the early warning report can also be obtained from 1520 Tower Grove Dr., Beverly Hills, Calif., 90210, attention: Nataly Berookhim (phone: 310-860-9797).
The company's head office is located at 1570 200 Burrard St., Vancouver, B.C., Canada, V6C 3L6.
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