Vizsla Copper to acquire Consolidated Woodjam Copper... Vizsla Copper Corp. (VCU.V) has entered into an arrangement agreement with to acquire Consolidated Woodjam Copper Corp. (WCC.V) via a plan of arrangement. WCC is engaged in copper, gold and molybdenum exploration and development on the Woodjam project in central British Columbia.
Vizsla Copper will also complete a consolidation of its common shares on the basis of 3.5 shares to 1 post consolidation share, immediately prior to the arrangement.
Under the terms of the agreement, WCC shares will be exchanged for Vizsla Copper shares. When the transaction is completed, current WCC shareholders will own 65% of the ssued and outstanding Vizsla Copper shares.
"This transaction immediately positions the company as a potential developer in the battery metals space, given the presence of several porphyry copper and porphyry copper-gold deposits on the Woodjam Project," said Craig Parry, Executive Chairman. "We expect to see continued strength in the copper markets in the long term, with electrification demand and jurisdictional supply disruptions being key drivers."
"The Woodjam exploration team discovered the Southeast deposit on the Woodjam property in 2007 and since then, they've delineated historical resource estimates of approximately 1.7 billion pounds of copper and almost 1 million ounces of gold within three deposits," added Steve Blower, Vice President, Exploration. "With an area of over 64,000 hectares in the heart of the prolific Quesnel Terrane, the potential for further exploration success on the Woodjam Project is excellent."