Universal Copper Announces Mailing of Meeting Materials for Vizsla Copper Acquisition Approval

Universal Copper Ltd., based in Vancouver, BC, has disseminated management information circulars and related proxy materials to its shareholders and option holders. This action is a foundational step towards an upcoming special meeting scheduled for April 10, 2024. The meeting's agenda includes the approval of a transaction with Vizsla Copper Corp. whereby Vizsla Copper aims to acquire all issued and outstanding shares of Universal Copper through a statutory plan of arrangement.

The approval of this arrangement requires a two-thirds majority vote from both the shareholders and the general security holders, alongside a simple majority excluding interested parties. The exchange ratio outlined dictates that for each Universal Copper share held, shareholders will receive 0.23 common shares of Vizsla Copper. The agreement also details the adjustment of outstanding stock options and warrants to align with this exchange ratio.

Endorsements for the arrangement have been unanimous among the Universal Copper board, following recommendations from a specially formed committee. This committee's favourable stance is supported by a fairness opinion from financial advisors Evans & Evans, Inc. Furthermore, directors, officers, and significant shareholders have entered into agreements backing this transaction, representing approximately 21.1% of the company’s non-diluted shares.

The arrangement's completion is conditional upon various approvals from security holders, regulatory bodies, and the satisfaction of standard closing conditions. Universal Copper anticipates that if all conditions are met, the transaction will conclude in April 2024.

Security holders are encouraged to review the meeting materials closely and to cast their votes, with record holders as of February 23, 2024, being eligible to participate in the decision-making process.