Western Metallica Announces Closing of Private Placement to Advance Peruvian Copper Project

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TORONTO, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Western Metallica Resources Corp. (TSXV: WMS) (“Western Metallica” or the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement financing of units of the Company (the “Offering”), pursuant to which the Company issued 10,833,345 units of the Company (each a “Unit” and collectively, the “Units”) at a price of $0.03 per Unit for gross proceeds of $325,000 (all dollar figures are denominated in Canadian dollars). Each Unit consists of one common share of the Company (each, a “Common Share”) and one common share purchase warrant (each a “Warrant”). Each Warrant shall entitle the holder to acquire one additional Common Share at an exercise price of $0.06 until the earlier of: (i) November 13, 2026, and (ii) within twenty (20) days of the Company providing such holder with written notice accelerating the Warrant expiry date, provided that that the daily volume weighted average price (or closing bid price on days when there are no trades) of the Common Shares on the TSX Venture Exchange (the “Exchange”) is at least $0.10 for a minimum of twenty (20) consecutive trading days prior to such written notice from the Company being provided (the “Acceleration Clause”). For further information on this previously announced private placement, please refer to the Company's October 15, 2024, news release.

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