Vizsla Copper Corp. announced its acquisition of Universal Copper Ltd. through a definitive arrangement agreement on February 13, 2024. This strategic move allows Vizsla Copper to obtain all issued and outstanding common shares of Universal Copper, leveraging the latter's key asset, the Poplar Project in British Columbia. The Poplar Project, an advanced pre-production copper venture, holds significant mineral resources, including 152.3 million tonnes of indicated resources and 139.3 million tonnes of inferred resources, with notable copper, molybdenum, gold, and silver grades.

The acquisition, unanimously approved by both companies' boards, aims to expand Vizsla Copper's portfolio in a proven mining district, enhancing shareholder value with its large land position and strong potential for discovery and expansion. Vizsla Copper will issue approximately 32.66 million new shares to Universal Copper shareholders, granting them a 23.3% ownership in the merged entity.

The arrangement, supported by a plan of arrangement under British Columbia's Business Corporations Act, requires approval from at least 66.67% of Universal Copper's shareholders and optionholders. It also necessitates TSX Venture Exchange approval and satisfaction of customary closing conditions. Special meetings for securityholder approval are scheduled, with closure expected in Q2 2024.

Additionally, Universal Copper agreed to a finder's fee, issuing 2.17 million shares to a third party, exchangeable for 500,000 Vizsla Copper shares upon deal closure, pending TSX Venture Exchange approval. This agreement represents a strategic expansion for Vizsla Copper in a stable jurisdiction, emphasizing the global demand for copper and the project's potential.