Universal Copper's Shareholders Approve Acquisition by Vizsla Copper

Universal Copper Ltd., based in Vancouver, BC, has announced the successful approval by its Securityholders, comprising Shareholders and Optionholders, of the acquisition plan by Vizsla Copper Corp. This decision was made at a special meeting where a special resolution was voted in favor of the arrangement for Vizsla Copper to acquire all issued and outstanding Universal Copper Shares. The exchange will be made at a ratio of 0.23 of a Vizsla Copper common share for each Universal Copper Share. This Agreement also includes the exchange of outstanding Options and warrants for Vizsla Copper shares, adjusted according to the Exchange Ratio.

A significant 94.08% of votes by Shareholders and 94.56% by Securityholders as a single class supported the arrangement, surpassing the two-thirds vote requirement. The Arrangement, which offers a 60% premium to Universal Copper Shares based on the February 12, 2024, volume-weighted price, now waits for the final order from the Superior Court of British Columbia, expected on April 16, 2024. Following the completion of the arrangement, expected in April 2024, Universal Copper Shares will be delisted from the TSX Venture Exchange and the Frankfurt Stock Exchange.