Vizsla Copper Completes Acquisition of Universal Copper

VANCOUVER, BC / ACCESSWIRE / April 18, 2024 / Vizsla Copper Corp. (TSXV:VCU) ("Vizsla Copper") and Universal Copper Ltd. (TSXV:UNV) ("Universal Copper") are pleased to announce the completion of the plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement"), as previously disclosed on February 14, 2024. Pursuant to the terms of the Arrangement, among other things, (i) Vizsla Copper acquired 100% of the issued and outstanding common shares in the capital of Universal Copper (the "UNV Shares") in exchange for the issuance of 0.23 common shares in the capital of Vizsla Copper (each whole common share, a "Vizsla Copper Share") to shareholders of Universal Copper ("Shareholders") in exchange for each UNV Share (the "Exchange Ratio"), (ii) Universal Copper's outstanding stock options ("Options") were exchanged for options of Vizsla Copper, and (iii) Universal Copper's outstanding warrants became exercisable to acquire Vizsla Copper Shares, in amounts and at exercise prices adjusted in accordance with the Exchange Ratio.

On April 16, 2024 the Supreme Court of British Columbia issued the final order to approve the Arrangement. The Arrangement received the requisite approval of Universal Copper's securityholders at a special meeting of securityholders held on April 10 , 2024.

Craig Parry, Executive Chairman of Vizsla Copper, stated: "The closing of this transaction is very timely, with the copper market now in structural undersupply. Demand is increasing, driven by new infrastructure needed for EV, AI, and cloud storage requirements and on the supply side, we have seen reductions in production rather than expected increases. This has led to certain analyst predictions that the copper price will be US$6/lb or more in the near term. There has never been a better time to acquire and advance copper projects in a mining-friendly jurisdiction like British Columbia.

We welcome the shareholders of Universal Copper to Vizsla Copper and look forward to the opportunity to provide value to all stakeholders. I want to thank both the Vizsla Copper and Universal Copper teams for their hard work to get this done expeditiously. Vizsla Copper is now uniquely positioned with two significant copper resource bases at the Woodjam and Poplar projects. The Vizsla Copper team is excited to begin it's work on the large, highly prospective Poplar project which contains a large, near-surface porphyry-related Cu-Au deposit. We look forward to unlocking additional value at both Poplar and Woodjam."