Ontario should rejig supports for small auto businesses in wake of tariffs, CFIB says
The Canadian Federation of Independent Business released a report Wednesday based on a survey of 187 small-to-medium-sized businesses in the automotive sector, from parts suppliers to repair shops, and found that tariffs are already having an impact.
Their revenue has declined by 13 per cent, on average, and half of them reported that they have paused or cancelled investments due to uncertainty caused by the Canada-U.S. trade war, which could lead to billions in lost revenue or missed investments, the report said.
'It's impossible for a business owner to really know what's going on these days,' Joseph Falzata, co-author of the report and policy analyst with CFIB Ontario, said of the whiplash trade policy news.
'I do this as my full-time job, and it's always difficult for myself. So you can only imagine a business owner who's working 50, 60 hours a week trying to keep track of things.'
Their revenue is taking a hit in part because they are paying higher prices and there is confusion about which products are affected by tariffs, as well as due to costs associated with seeking out new supply chains, Falzata said.
Ontario has programs meant to help shore up businesses in the automotive sector, but while appreciated, they're missing the mark when it comes to supporting smaller businesses, the CFIB report says.
In its spring budget the provincial government said it was putting $85 million into two programs: the Ontario Automobile Modernization Program to help parts suppliers upgrade equipment and the Ontario Vehicle Innovation Network for research and development.
'Though these programs have been created with good intentions, few small businesses plan to use them, and over a third of them are ineligible,' the CFIB report says.
'The programs focus on R&D innovation and large-scale manufacturing, while disregarding the reality that most automotive (small and medium businesses) either cannot afford or are not involved in these processes.'
A new $50-million Ontario Together Trade Fund meant to help businesses develop new markets and find domestic supply chains, requires businesses to show a revenue loss of at least 30 per cent and requires them to put up $200,000 of their own capital, which the report calls 'a luxury most (small and medium businesses) cannot afford.'
The government said its programs have already helped hundreds of businesses, with the Ontario Vehicle Innovation Network supporting more than 600 small and medium businesses since its inception in 2019 and the Ontario Automotive Modernization Program has supported 215 projects since 2021.
'In the face of unprecedented global economic uncertainty, our government is protecting and building on the progress we have made to champion small businesses in the auto sector and across the economy,' Jennifer Cunliffe, a spokesperson for Economic Development Minister Vic Fedeli, wrote in a statement.
The best way to help small businesses would be to lower the small business tax rate from 3.2 per cent to two per cent, the CFIB said. The government lowered the rate from 3.5 per cent in 2020.
This report by The Canadian Press was first published July 16, 2025.
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Plata Latina and World Copper Announce Acquisition of the Zonia Project by Plata Latina and Concurrent $17 Million Financing to Create a Development-Focused Copper Company to be Named "Edge Copper Corporation"
THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. All dollar amounts in this news release refer to Canadian dollars. Vancouver, British Columbia--(Newsfile Corp. - July 23, 2025) - Plata Latina Minerals Corporation (TSXV: PLA) ("Plata Latina") and World Copper Ltd. (TSXV: WCU) (OTCQB: WCUFF) (FSE: 7LY0) ("World Copper") are pleased to announce that they have entered into an arm's length definitive agreement dated July 22, 2025 (the "Transaction Agreement") for Plata Latina to acquire the Zonia Copper Project ("Zonia") in Arizona from World Copper for consideration of cash and common shares of Plata Latina ("Plata Latina Shares") by way of a court-approved plan of arrangement (the "Transaction"). Plata Latina will be renamed Edge Copper Corporation upon closing of the Transaction. Under the terms of the Transaction, World Copper will receive $10.5 million in cash (the "Cash Consideration") and such number of Plata Latina Shares as results in World Copper and its shareholders owning approximately 31.3% of Plata Latina, on a non-diluted basis, immediately following closing of the Transaction and the Concurrent Financing (as defined below) (the "Share Consideration"). The aggregate Cash Consideration and Share Consideration are valued at approximately $22 million, which implies a value of approximately $0.085 per common share of World Copper (the "World Copper Shares")(1) representing a premium of approximately 40% to the five-day volume-weighted average price of the World Copper Shares on the TSX Venture Exchange as of July 22, 2025 and a premium of approximately 71% to the 20-day volume-weighted average price of the World Copper Shares on the TSX Venture Exchange as of July 22, 2025. As part of the Transaction, World Copper shareholders are expected to receive approximately 0.3930 of a Plata Latina Share for each World Copper Share (the "Exchange Ratio") pursuant to a distribution by World Copper to its shareholders of a substantial portion of the Share Consideration.(2) Immediately following closing, World Copper will retain approximately $500,000 in cash and 15,000,000 Plata Latina Shares and will use the balance of the Cash Consideration to satisfy outstanding indebtedness, accounts payable and other liabilities of World Copper and its subsidiaries. World Copper shareholders will continue to hold their interest in World Copper, which is expected to remain a stand-alone public company, with a clean balance sheet, and a focus on continued exposure to the Cristal project - a prospective and high-potential Chilean porphyry copper deposit. For further details regarding the Cristal project, please refer to World Copper's press release of July 17, 2025, available under its profile on SEDAR+ at In connection with the Transaction, Plata Latina has entered into binding subscription agreements with investors pursuant to a non-brokered private placement of units of Plata Latina ("Plata Latina Units") at a price of $0.10 per Plata Latina Unit for gross aggregate proceeds of $17 million (the "Concurrent Financing"). The proceeds of the Concurrent Financing are being allocated to finance the Cash Consideration and to fund exploration and development of Zonia, including drilling, metallurgical test work, feasibility study work and permitting work, and for general working capital and corporate purposes. No commission or brokerage or finder's fee is payable in connection with the Concurrent Financing. As a result of the Transaction, Plata Latina expects to become a development-focused copper company poised to advance the 100%-owned Zonia Copper Project in Arizona. Zonia is a past-producing conventional open-pit mine that is planned to produce pure copper cathode on-site. The planned operation is situated on private and patented lands, allowing for a faster and more streamlined permitting process, with considerable exploration upside on an additional 3,713 acres of unpatented claims to the northeast of the current mineral resource. "The acquisition of Zonia is an important and significant step for Plata Latina and positions us well as the U.S. focuses on domestic demand for critical minerals," commented Letitia Wong, President and Chief Executive Officer of Plata Latina. "With Zonia located on private and patented lands, the permitting process is expected to be more efficient and streamlined, enhancing project development certainty. Under the leadership of our highly experienced project team-recognized for its success in advancing copper projects in Arizona-we look forward to moving Zonia toward construction in the near to medium term. We are excited about Zonia and the additional value we expect to bring to our shareholders, World Copper shareholders, and new investors in the Concurrent Financing." Gordon Neal, President and Chief Executive Officer of World Copper, stated: "The sale of Zonia to Plata Latina will provide significant value to World Copper shareholders. The Plata Latina team has a track record of creating value for shareholders by developing, operating, and ultimately vending copper and gold mines and assets to major resource industry players. World Copper shareholders will receive a significant share position in Plata Latina while maintaining their existing shares in World Copper. The new reconstituted World Copper will be a clean, debt-free and capitalized copper exploration company with a new Chilean asset. This is a meaningful win for World Copper shareholders in an accelerating global copper market." Transaction Highlights Combines a seasoned management team with a strategic copper project in Arizona: The experienced management team has significant prior experience in Arizona and a strong track record of creating value through resource growth. Experience includes generating a 175% shareholder return and a 2.5x resource increase at Copper Mountain (sold to Hudbay in 2023), as well as generating a greater than 1,200% shareholder return and a 1.5x resource increase at Augusta Resource Corporation (sold to Hudbay in 2014). Strategically aligned acquisition provides attractive value proposition and re-rate upside potential: Following the Transaction, Plata Latina is expected to compare favourably to peers on key valuation metrics, providing upside and re-rate potential. Through their Share Consideration, World Copper shareholders will have the opportunity to participate in the potential re-rating as the Plata Latina management team executes its strategic vision for Zonia. A significant private land package presents a strong exploration opportunity for future value creation: There are over 900 hectares of private land at Zonia, which hosts a current resource that underpins 10 years of initial production. Limited historical exploration work has been completed which provides strong potential for resource expansion and larger-scale production. An additional BLM land package nearby provides significant potential for a Phase 2 expansion in the future. Zonia is located in a Tier 1 jurisdiction: Copper is a critical mineral to the U.S. and Zonia is strategically located in Arizona, the largest producer of copper in the U.S., ranked 7th globally on mining investment attractiveness, according to the Fraser Institute's 2023 Annual Survey of Mining Companies. The pre-stripped, past-producing Zonia benefits from existing infrastructure and a streamlined permitting process, which only requires state permits for Phase 1. Straightforward and low-risk Zonia project to become a primary asset for Plata Latina: Zonia's oxide porphyry deposit is attractive and straightforward with conventional open pit mining at a brownfield site via SX-EW, which is expected to reduce processing, minimizing complexity and emissions. Retained exposure to Chilean assets with capital markets optionality for World Copper shareholders: World Copper shareholders will have the opportunity to participate in continued exposure to the Cristal project - a prospective Chilean porphyry copper deposit - in a vehicle with a clean balance sheet and cash and Plata Latina Shares, together with capital markets optionality to access further financing to advance exploration and development and a TSX Venture Exchange listing to serve as a viable RTO candidate. Plata Latina Governance and Leadership Following closing, Plata Latina will appoint two World Copper directors, currently expected to be Robert Kopple and Keith Henderson, to its current board of directors (the "Plata Latina Board"). Plata Latina's senior leadership team will include Gilmour Clausen as Chair and Chief Executive Officer and Letitia Wong as President. World Copper Special Committee Recommendation and Fairness Opinion World Copper established a special committee (the "World Copper Special Committee") of its board of directors (the "World Copper Board"), composed solely of independent directors, to review the Transaction. Following its review, and the receipt of financial advice, the World Copper Special Committee unanimously recommended that the World Copper Board approve the Transaction and recommend that World Copper shareholders vote in favour of the Transaction. Evans & Evans, Inc. ("Evans & Evans") has provided a verbal opinion to the World Copper Special Committee with respect to the Transaction to the effect that, subject to the assumptions, limitations and qualifications stated in the written opinion of Evans & Evans, (a) the consideration to be received by World Copper pursuant to the Transaction is fair, from a financial point of view, to World Copper, and (b) the Exchange Ratio is fair, from a financial point of view, to the World Copper shareholders. Evans & Evans will receive a fixed fee for its services that is not dependent on the completion of the Transaction. Board of Directors' Recommendations and Voting Support The Transaction has been unanimously approved by the Plata Latina Board and the World Copper Board after consultation with their respective financial and legal advisors. Both the Plata Latina Board and the World Copper Board unanimously recommend that their respective shareholders vote in favour of the Transaction. The directors and officers and certain shareholders of Plata Latina, holding approximately 43% of the outstanding Plata Latina Shares, have entered into a voting and support agreement with World Copper pursuant to which they have agreed to vote their Plata Latina Shares in favour of the Transaction, and the directors and officers and certain shareholders of World Copper, holding approximately 30% of the outstanding World Copper Shares, have entered into a voting and support agreement with Plata Latina pursuant to which they have agreed to vote their World Copper Shares in favour of the Transaction. Transaction Summary The Transaction will be completed pursuant to a plan of arrangement under the provisions of the Business Corporations Act (British Columbia) and result in the acquisition by Plata Latina of Zonia Holdings Corp., a wholly-owned subsidiary of World Copper that holds Zonia through Cardero Copper (USA) Ltd., and certain intercompany receivables. With respect to World Copper, the Transaction will require the approval of (a) two-thirds of the votes cast by World Copper shareholders at a special meeting of World Copper shareholders (the "World Copper Meeting"), (b) a majority of the votes cast at the World Copper Meeting, excluding votes cast by persons required to be excluded under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions. ("MI 61-101"), and (c) shareholders in accordance with the corporate finance policies of the TSX Venture Exchange. With respect to Plata Latina, the Concurrent Financing will require the approval of a majority of the votes cast by Plata Latina shareholders at a special meeting of Plata Latina shareholders (the "Plata Latina Meeting"), excluding votes cast by persons required to be excluded under MI 61-101. In addition to shareholder and court approvals, the completion of the Transaction is subject to customary closing conditions, including approval of the TSX Venture Exchange and completion of the Concurrent Financing. The Transaction is a Fundamental Acquisition (as defined in TSXV Policy 5.3) for Plata Latina. Subject to the satisfaction of these conditions, the Transaction and the Concurrent Financing are expected to close in October 2025. The Transaction Agreement includes customary non-solicitation and "fiduciary-out" provisions, and provides for a reciprocal termination fee of $1 million payable in certain circumstances, including if either Plata Latina or World Copper accepts a superior proposal that is not matched by the other party. Under the Transaction, holders of World Copper warrants will receive replacement warrants to acquire, in lieu of one World Copper Share for each World Copper warrant, a fraction of a Plata Latina Share determined on the basis of the Exchange Ratio. The Plata Latina replacement warrants will be exercisable until their respective expiry dates and will feature terms that are otherwise the same as the terms of the World Copper warrants in effect immediately prior to the closing of the Transaction. In addition, under the Transaction, certain holders of World Copper options will receive replacement options to acquire, in lieu of one World Copper Share for each World Copper option, a fraction of a Plata Latina Share determined on the basis of the Exchange Ratio. The Plata Latina replacement options will be exercisable until the earlier of their respective expiry dates and 15 months from closing, and will feature terms that are otherwise the same as the terms of the World Copper options in effect immediately prior to the closing of the Transaction. Full details of the Transaction and the Concurrent Financing will be set out in a joint management information circular of Plata Latina and World Copper (the "Joint Circular") that is expected to be mailed to their respective shareholders and filed under their respective profiles on SEDAR+ at in due course. The Plata Latina Meeting and the World Copper Meeting are expected to be held in October 2025, and closing is expected to occur in the fourth quarter of 2025. None of the securities to be issued pursuant to the Transaction Agreement have been or will be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any securities laws of any state of the United States, and any securities issued pursuant to the Transaction are anticipated to be issued in reliance upon available exemptions from such registration requirements pursuant to section 3(a)(10) of the U.S. Securities Act and similar exemptions under applicable securities laws of any state of the United States. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities. Concurrent Financing In connection with the Transaction, Plata Latina has entered into binding subscription agreements to effect the Concurrent Financing at a price of $0.10 per Plata Latina Unit for gross aggregate proceeds of $17 million. Each Plata Latina Unit consists of one Plata Latina Share and one-half of one Plata Latina Share purchase warrant (each such whole warrant, a "Plata Latina Warrant"). Each Plata Latina Warrant will entitle the holder thereof to acquire one Plata Latina Share at an exercise price of $0.20 for a period of 18 months following closing of the Concurrent Financing. The proceeds of the Concurrent Financing are being allocated to finance the cash portion of the consideration under the Transaction and to fund exploration and development of Zonia, including drilling, metallurgical test work, engineering, feasibility study work, permitting work, geotechnical work. Approximately $3 million will be used for general working capital and corporate purposes, including transaction-related expenses. No commission or brokerage or finder's fee is payable in connection with the Concurrent Financing. Directors and officers of Plata Latina and certain of their joint actors have entered into subscription agreements to invest an aggregate of approximately $8.5 million in the Concurrent Financing. By virtue of the amount of their committed investment, the Concurrent Financing constitutes a "related party transaction" under MI 61-101. As a result, the Concurrent Financing is subject to the approval of a majority of the votes cast by Plata Latina shareholders at the Plata Latina Meeting, excluding votes cast by persons required to be excluded under MI 61-101. In addition to disinterested shareholder approval, the completion of the Concurrent Financing is subject to customary closing conditions, including approval of the TSX Venture Exchange and the substantially concurrent closing of the Transaction. There are no "prior valuations" (as defined in MI 61-101) that relate to the subject matter of or that are otherwise relevant to the Concurrent Financing that have been made in the 24 months before the date of this news release and the existence of which is known, after reasonably inquiry, to Plata Latina or to any director or senior officer of Plata Latina. As neither the Plata Latina Shares nor any other securities of Plata Latina are listed or quoted on a specified stock exchange, Plata Latina is relying on the exemption from the formal valuation requirements of MI 61-101 contained in section 5.5(b) of MI 61-101 in relation to the Concurrent Financing. The Plata Latina Units are being offered by way of: (a) private placement in each of the provinces of Canada pursuant to applicable prospectus exemptions under applicable Canadian securities laws; (b) in the United States, by way of private placement pursuant to the exemptions from registration provided for under Rule 506(b) and/or Section 4(a)(2) of the U.S. Securities Act, and applicable exemptions under any applicable state securities laws; and (c) in jurisdictions outside of Canada and the United States on a private placement or equivalent basis. The securities being offered pursuant to the Concurrent Financing have not been, nor will they be, registered under the U.S. Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. "United States" is as defined in Regulation S under the U.S. Securities Act. The Concurrent Financing is integral to the Transaction and Plata Latina intends to rely on the "part and parcel pricing exception" provided for in the corporate finance policies of the TSX Venture Exchange. Plata Latina Name Change and Share Consolidation In connection with the Transaction, Plata Latina intends to change its corporate name to "Edge Copper Corporation" and change its ticker symbol on the TSX Venture Exchange (the "Name Change") to reflect its edge as a development-focused copper company poised to advance the 100%-owned Zonia Copper Project in Arizona on private and patented lands and produce domestic pure copper cathode. Plata Latina also intends to consolidate the Plata Latina Shares on the basis of one post-consolidation Plata Latina Share for up to three pre-consolidation Plata Latina Shares (the "Share Consolidation"). There are currently approximately 80 million Plata Latina Shares outstanding. Plata Latina expects to issue approximately 109,772,988 Plata Latina Shares pursuant to the Transaction and approximately 170,000,000 Plata Latina Shares pursuant to the Concurrent Financing such that, immediately following closing, Plata Latina expects there to be approximately 362,495,882 Plata Latina Shares outstanding (on a non-diluted basis) or approximately 120,831,961 Plata Latina Shares outstanding (on a non-diluted basis and post-Share Consolidation basis).(3) The Name Change and the Share Consolidation are subject to, among other conditions, the approval of two-thirds of the votes cast by Plata Latina shareholders at the Plata Latina Meeting and the approval of the TSX Venture Exchange. Plata Latina anticipates implementing the Name Change and the Share Consolidation immediately following closing of the Transaction and the Concurrent Financing. All references in this news release to Plata Latina Shares refer to Plata Latina Shares on a pre-Share Consolidation basis. Full details of the Name Change and the Share Consolidation will be set out in the Joint Circular. Closing of the Transaction and the Concurrent Financing is not conditional on the completion of the Name Change or the Share Consolidation. Bridge Loan In connection with the Transaction, Plata Latina has agreed to provide bridge financing to World Copper pursuant to the terms of a bridge loan agreement dated July 22, 2025 in an aggregate principal amount of up to $600,000 (the "Bridge Loan"). Advances of the Bridge Loan are to be made in two tranches consisting of an initial advance of up to $400,000 and a subsequent advance of up to $200,000, subject to specific conditions precedent for each advance. Advances under the Bridge Loan are intended primarily to maintain Zonia, including payment of annual maintenance claim fees, as well as general working capital and corporate purposes. Interest under the Bridge Loan accrues at 10% per annum (or 15% per annum in the event of a default). World Copper is required to repay the principal amount and all accrued interest by the earlier of March 31, 2026 and the closing of the Transaction (in which case amounts outstanding under the Bridge Loan will be set off against the Cash Consideration, with accrued interest reduced to nil). Neither the principal amount nor the interest under the Bridge Loan is convertible into securities. The Bridge Loan is subject to customary representations, warranties and covenants by World Copper, including restrictions on encumbrances, asset sales, and further indebtedness, as well as requirements to maintain corporate existence and compliance with laws. Events of default include payment failures, breaches of covenants, material adverse changes, insolvency events, and breaches related to the Transaction. The Bridge Loan is unsecured. World Copper's wholly-owned subsidiaries, Zonia Holdings Corp. and Cardero Copper (USA) Ltd., have provided a joint and several guarantee of all obligations under the Bridge Loan. The Bridge Loan is subject to the prior acceptance of the TSX Venture Exchange. Advisors and Counsel National Bank Financial acted as Plata Latina's exclusive financial advisor and Davies Ward Phillips & Vineberg LLP acted as its legal counsel. Origin Merchant Partners acted as World Copper's financial advisor and Lotz & Company acted as its legal counsel. Evans & Evans, Inc. acted as the World Copper Special Committee's independent financial advisor. Early Warning Disclosure Regarding Gilmour Clausen Mr. Clausen, a director and the Chair of the Plata Latina Board, and joint actors will acquire beneficial ownership, or control or direction, directly or indirectly, over an aggregate of 60,000,000 Units pursuant to the Concurrent Financing. Mr. Clausen and joint actors currently beneficially own, or control or direct, directly or indirectly, an aggregate of 20,163,595 Plata Latina Shares and 1,376,839 options to acquire Plata Latina Shares ("Plata Latina Options"), representing approximately 25.51% of the issued and outstanding Plata Latina Shares, and 26.80% of the issued and outstanding Plata Latina Shares (assuming exercise of the Plata Latina Options). After giving effect to the closing of the Transaction and Concurrent Financing (the closings of which are cross-conditional), Mr. Clausen and joint actors are expected to beneficially own, or control or direct, directly or indirectly, 80,163,595 Plata Latina Shares and 31,376,839 Plata Latina Warrants and Plata Latina Options, representing approximately 22.11% of the anticipated issued and outstanding Plata Latina Shares at closing of the Transaction and Concurrent Financing, and 28.32% of the anticipated issued and outstanding Plata Latina Shares at closing of the Transaction and Concurrent Financing (assuming exercise of the Plata Latina Options and Warrants held by Mr. Clausen and joint actors). Mr. Clausen has advised that the Units will be acquired for investment purposes and that he has no present intention to either increase or decrease his holdings in Plata Latina. Notwithstanding the foregoing, he has advised that he and joint actors may increase or decrease his beneficial ownership, control or direction over Plata Latina Shares through market transactions, private agreements, exercise of warrants, other treasury issuances or otherwise. An early warning report with additional information in respect of the foregoing matters will be made available under Plata Latina's profile on SEDAR+ at or may be obtained directly upon request by contacting the Plata Latina contact person named below. The head office of Plata Latina is located at 1100-1111 Melville Street, Vancouver British Columbia, V6E 3V6, Canada. Zonia Technical Report Additional information regarding Zonia is available in the technical report dated October 24, 2024, with an effective date of August 27, 2024 and an amended date of November 8, 2024, prepared by Sue Bird, titled "NI 43-101 Resource Estimate for the Zonia Project 2024 Update", available under the profile of World Copper on SEDAR+ at on SEDAR+ at Endnotes (1) Approximate transaction value includes $10.5 million Cash Consideration and Share Consideration valued at $11.3 million based on the 30-day volume-weighted average price of the Plata Latina Shares on the TSX Venture Exchange as of July 22, 2025. (2) The final Exchange Ratio will be determined at closing depending on, among other things, the number of then-issued and outstanding Plata Latina Shares and World Copper Shares. The Exchange Ratio of 0.3930 is based on the current number of issued and outstanding Plata Latina Shares and World Copper Shares on a non-diluted basis, being 79,034,671 Plata Latina Shares and 250,519,067 World Copper Shares. (3) The actual number of Plata Latina Shares to be issued pursuant to the Transaction will depend on, among other things, the number of issued and outstanding Plata Latina Shares and World Copper Shares at closing. The figures above are based on the current number of issued and outstanding Plata Latina Shares and World Copper Shares on a non-diluted basis, being 79,034,671 Plata Latina Shares and 250,519,067 World Copper Shares. About Plata Latina Minerals Corporation Plata Latina Minerals Corporation is a growth-focused company that explores strategic opportunities within the mining industry. Led by a highly experienced team with a proven track record in identifying, optimizing, and growing businesses, Plata Latina aims to create long-term value through acquisitions, partnerships, and other strategic transactions. With a strong cash balance and a 2% NSR, Plata Latina is actively evaluating opportunities. About World Copper Ltd. World Copper Ltd., headquartered in Vancouver, BC, is a Canadian resource company focused on the exploration and development of its Zonia copper project in Arizona. Detailed information is available at World Copper's website at and for general World Copper updates you may follow us on our social media pages via Facebook, Twitter & LinkedIn. Further Information For further information regarding Plata Latina, please contact: Patricia FongChief Financial OfficerTelephone: +1 800 933 9925Email: info@ For further information regarding World Copper, please contact: Gordon NealPresident & Chief Executive OfficerTelephone: 604-638-3287Email: info@ Forward-Looking Information This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation that is based on current expectations, estimates, projections, and interpretations about future events as at the date of this news release. Forward-looking information includes, but is not limited to, information with respect to the structure, consideration, timing and completion of the Transaction, the Concurrent Financing, the Name Change and the Share Consolidation and the expected outcomes of completion thereof, including their anticipated benefits to World Copper and Plata Latina shareholders; the Exchange Ratio and the number of Plata Latina Shares that will be issued and outstanding immediately following the closing of the Transaction and the Concurrent Financing; the development and production of Zonia; World Copper's option interest in the Cristal project; the timing for the mailing of the Joint Circular; the timing for the Plata Latina Meeting and the World Copper Meeting; and the closing of the Transaction and Concurrent Financing. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "accelerate", "add" or "additional", "advancing", "anticipates" or "does not anticipate", "appears", "believes", "can be", "conceptual", "confidence", "continue", "convert" or "conversion", "deliver", "demonstrating", "estimates", "encouraging", "expand" or "expanding" or "expansion", "expect" or "expectations", "fast-track", "forecasts", "forward", "goal", "improves", "increase", "intends", "justification", "plans", "potential" or "potentially", "pro-forma", "promise", "prospective", "prioritize", "reflects", "re-rating", "scheduled", "stronger", "suggesting", "support", "updating", "upside", "will be" or "will consider", "work towards", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Plata Latina and World Copper to be materially different from those expressed or implied by such forward-looking information, including, without limitation, the expectations and beliefs of World Copper and Plata Latina that the Transaction will be completed in accordance with the Transaction Agreement, that all required regulatory consents (including the approval of the TSX Venture Exchange) and court and shareholder approvals will be obtained and all other conditions to completion of the Transaction will be satisfied or waived, risks associated with required regulatory approvals, the exploration, development and mining such as economic factors as they effect exploration, future commodity prices, changes in foreign exchange and interest rates, actual results of current exploration activities, government regulation, political or economic developments, conflicts and their effect on supply chains, environmental risks, COVID-19 and other pandemic risks, permitting timelines, capital expenditures, operating or technical difficulties in connection with development activities, employee relations, the speculative nature of copper exploration and development, including the risks of diminishing quantities of grades of reserves, contests or uncertainties over title to properties, tax considerations and changes in tax law or the interpretation thereof and changes in project parameters as plans continue to be refined, as well as those risk factors discussed in Plata Latina's management's discussion and analysis for the year ended December 31, 2024 and World Copper's annual information form for the year ended December 31, 2024, under their respective profiles on SEDAR+ at World Copper and Plata Latina caution that the foregoing list of material factors and assumptions is not exhaustive. Although Plata Latina and World Copper have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Each of Plata Latina and World Copper do not undertake to update any forward-looking information, except in accordance with applicable securities laws. Completion of the Transaction is subject to a number of conditions, including but not limited to, TSX Venture Exchange acceptance and if applicable, disinterested shareholder approval. Where applicable, the Transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the Transaction will be completed as proposed or at all. Investors are cautioned that, except as disclosed in the Joint Circular, any information released or received with respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the securities of Plata Latina and World Copper should be considered highly speculative. Cautionary Statement regarding Mineral Resource Estimates Until mineral deposits are actually mined and processed, Mineral Resources must be considered as estimates only. Mineral Resource estimates that are not Mineral Reserves and have not demonstrated economic viability. The estimation of Mineral Resources is inherently uncertain, involves subjective judgement about many relevant factors and may be materially affected by, among other things, environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant risks, uncertainties, contingencies and other factors described in World Copper's public disclosure available on SEDAR+ at The quantity and grade of reported "Inferred" Mineral Resource estimates are uncertain in nature and there has been insufficient exploration to define "Inferred" Mineral Resource estimates as an "Indicated" or "Measured" Mineral Resource and it is uncertain if further exploration will result in upgrading "Inferred" Mineral Resource estimates to an "Indicated" or "Measured" Mineral Resource category. The accuracy of any Mineral Resource estimates is a function of the quantity and quality of available data, and of the assumptions made and judgments used in engineering and geological interpretation, which may prove to be unreliable and depend, to a certain extent, upon the analysis of drilling results and statistical inferences that ay ultimately prove to be inaccurate. Mineral Resource estimates may have to be re-estimated based on, among other things: (a) fluctuations in mineral prices; (b) results of drilling, and development; (c) results of future test mining and other testing; (d) metallurgical testing and other studies; (e) results of geological and structural modeling including block model design; (f) proposed mining operations, including dilution; (g) the evaluation of future mine plans subsequent to the date of any estimates; and (h) the possible failure to receive required permits, licenses and other approvals. It cannot be assumed that all or any part of a "Inferred" or "Indicated" Mineral Resource estimate will ever be upgraded to a higher category. The Mineral Resource estimates disclosed in this news release were reported using Canadian Institute of Mining, Metallurgy and Petroleum Definition Standards for Mineral Resources and Mineral Reserves (the "CIM Standards") in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101"). Cautionary Statement to United States Readers This news release uses the terms "Mineral Resource", "Indicated Mineral Resource" and "Inferred Mineral Resource" as defined in the CIM Standards in accordance with NI 43-101. While these terms are recognized and required by the Canadian Securities Administrators in accordance with Canadian securities laws, they may not be recognized by the United States Securities and Exchange Commission. The Mineral Resource estimates and related information in this news release may not be comparable to similar information made public by United States companies subject to the reporting and disclosure requirements under the United States federal securities laws and the rules and regulations thereunder. The Mineral Resource estimates contained in this news release have been prepared in accordance with NI 43-101 and may not be comparable to similar information disclosed by U.S. companies subject to SEC reporting and disclosure requirements. Investors are cautioned that Mineral Resources are not Mineral Reserves and do not have demonstrated economic viability. In particular, "Inferred Mineral Resources" have a great amount of uncertainty as to their existence and economic feasibility, and it cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. The TSX Venture Exchange has in no way passed upon the merits of the Transaction or the Concurrent Financing and has neither approved nor disapproved the contents of this news release. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. To view the source version of this press release, please visit
Yahoo
an hour ago
- Yahoo
Honey Badger Silver Announces Closing of Upsized Non-Brokered Private Placement Financing
Toronto, Ontario--(Newsfile Corp. - July 23, 2025) - Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) ("Honey Badger" or the "Company") is pleased to announce that it has closed the non-brokered private placement financing previously announced on July 17, 2025 (the "Additional Financing"). Due to strong investor demand, the Company upsized the Additional Financing, raising aggregate gross proceeds of $630,205.92 through the issuance of 5,729,145 units of the Company (the "Additional Units") at a purchase price of $0.11 per Additional Unit. Each Additional Unit consists of one common share of the Company and one half of one common share purchase warrant (each whole warrant, an "Additional Warrant"). Each Additional Warrant entitles the holder to acquire one common share of the Company (each, an "Additional Warrant Share") for an exercise price of $0.15 per Additional Warrant Share for a period of 18 months following the closing date of the Additional Financing, subject to customary anti-dilution adjustments. Combined with the $1.986 million raised in the first tranche of the Company's previously announced non-brokered private placement disclosed on June 17, 2025 (the "Offering"), and the $465,000 raised from the second tranche of the Offering, the Company has now raised approximately $3.081 million in total gross proceeds from the Offering and the Additional Financing. The Company intends to use the net proceeds from the Additional Financing to fund programs to advance one or more of the Company's properties, the purchase of silver royalties and for general and administrative purposes. In connection with the closing of the Additional Financing, the Company paid aggregate cash finder's fees of $10,500 and issued 95,455 non-transferable finder's warrants to certain arm's length finders. Each finder's warrant is exercisable to acquire one common share in the capital of the Company at a price of C$0.15 per share until January 23, 2027, subject to customary anti-dilution adjustments. The securities issued in connection with the Additional Financing are subject to a four-month and a day hold period under Canadian securities laws. The Additional Financing is subject to receipt of the final approval of the TSX Venture Exchange. Caution to US Investors This news release does not constitute an offer to sell, or a solicitation of an offer to buy, any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. About Honey Badger Silver Inc. Honey Badger Silver is a silver company. The company is led by a highly experienced leadership team with a track record of value creation backed by a skilled technical team. Our projects are located in areas with a long history of mining, including the Sunrise Lake project with a historic resource of 12.8 Moz of silver (and 201.3 million pounds of zinc) Indicated and 13.9 Moz of silver (and 247.8 million pounds of zinc) Inferred (1)(3) located in the Northwest Territories and the Plata high grade silver project located 165 km east of Yukon's prolific Keno Hill and adjacent to Snowline Gold's Rogue discovery. The Company's Clear Lake Project in the Yukon Territory has a historic resource of 5.5 Moz of silver and 1.3 billion pounds of zinc (2)(3). The Company also has a significant land holding at the Nanisivik Mine Area located in Nunavut, Canada that produced over 20 Moz of silver between 1976 and 2002 (2)(3). A qualified person has not done sufficient work to classify the foregoing historical resources as current mineral resources and the Company is not treating the estimates as current mineral resources. The historical resource estimates are provided solely for the purpose as an indication of the volume of mineralization that could be present. Additional work, including verification drilling / sampling, will be required to verify any of the historical estimates as a current mineral resources. (1) Sunrise Lake 2003 RPA historic resource: Indicated 1.522 million tonnes grading 262 grams/tonne silver, 6.0% zinc, 2.4% lead, 0.08% copper, and 0.67 grams/tonne gold and Inferred 2.555 million tonnes grading 169 grams/tonne silver, 4.4% zinc, 1.9% lead, 0.07% copper, and 0.51 grams/tonne gold. (2) Clear Lake 2010 SRK historic Resource: Inferred 7.76 million tonnes grading 22 grams/tonne silver, 7.6% zinc, and 1.08% lead. (3) Geological Survey of Canada, 2002-C22, "Structural and Stratigraphic Controls on Zn-Pb-Ag Mineralization at the Nanisivik Mississippi Valley type Deposit, Northern Baffin Island, Nunavut; by Patterson and Powis." ON BEHALF OF THE BOARD Chad Williams, Executive Chairman Sonya Pekar Investor Relationsspekar@ | +1 (647) 498-8244 For more information please visit our website Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Note Regarding Forward-Looking Information This news release contains "forward-looking information" within the meaning of the applicable Canadian securities legislation that is based on expectations, estimates, projections and interpretations as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, interpretations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "interpreted", "management's view", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) including in respect of the use of proceeds of the Additional Financing and the receipt of the final approval from the TSX Venture Exchange, are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. This forward-looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Honey Badger to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Such factors include, but are not limited to, risks relating to capital and operating costs varying significantly from estimates; delays in obtaining or failures to obtain required governmental, environmental or other project approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Company's public documents filed on SEDAR+ ( under Honey Badger's issuer profile. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed timeframes or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law. To view the source version of this press release, please visit
Bloomberg
an hour ago
- Bloomberg
Some Canadian Leaders Want Thaw With China to Offset US Trade War
Some senior officials in Canada say it's time to repair trade relations with China, arguing US tariff policy is pushing them to deal with Asia's largest economy. Last year, the Canadian government put tariffs of 100% on Chinese-made electric vehicles and 25% on steel and aluminum products, aligning with what the Biden administration had done. The move also protected Canada's auto industry.
