World Copper (TSE:WCU) has released an update.
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World Copper Ltd. has successfully negotiated an extension and amendment of substantial loans, initially taken on during its merger with Cardero Resource Corp., marking a strategic financial move. To facilitate this extension, the company has issued nearly 7.3 million bonus warrants to the lender, under terms that prevent excessive concentration of ownership. The lender, a trust controlled by a company director, is part of a transaction considered to be a related party transaction, which falls under specific regulatory exemptions due to its size relative to the company’s market capitalization.
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