Vancouver, BC, December 1, 2011 - Consolidated Woodjam Copper Corp. ("Woodjam Copper") (TSX-V: WCC) is pleased to report that it has completed plans of arrangement with Cariboo Rose Resources ("Cariboo Rose") and Fjordland Exploration Inc. ("Fjordland") on November 25, 2011, and that the common shares of Woodjam Copper have now been listed for trading on the TSX Venture Exchange.
The purpose of the plans of arrangement was to preserve the interests of the shareholders of Cariboo Rose and the shareholders of Fjordland in the Woodjam properties by transferring them to Woodjam Copper, a stand-alone corporate entity focused on the exploration and development of the properties. Pursuant to the plans of arrangement between Cariboo Rose and Woodjam Copper and between Fjordland and Woodjam Copper, the interests of Cariboo Rose and Fjordland have been transferred to Woodjam Copper. The Woodjam project is subject to an earn-in option by Gold Fields.
Refer to the Cariboo Rose Information Circular dated August 26, 2011, and the Fjordland Information Circular dated September 1, 2011, for additional information concerning the plans of arrangement.
Pursuant to the plans of arrangement, a total of 19,999,986 common shares in the capital of Woodjam Copper have been issued, on a pro-rata basis, to the Cariboo Rose shareholders and a total of 29,999,998 common shares in the capital of Woodjam Copper have been issued, on a pro-rata basis, to the shareholders of Fjordland.
J.W. (Bill) Morton, P.Geo.
President and CEO
Consolidated Woodjam Copper Corp.
Paul Way, Investor Relations
Phone: (604) 681-7913, Toll Free: 888-656-6611; email: firstname.lastname@example.org
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
About Consolidated Woodjam Copper Corporation
Consolidated Woodjam Copper Corp. ("Woodjam Copper") (TSX-V: WCC) was called for trading on the TSX-V on November 25, 2011. Woodjam Copper was created when Fjordland Exploration Inc. ("Fjordland") (TSX-V: FEX) and Cariboo Rose Resources Ltd. ("Cariboo Rose") (TSX-V: CRB), 60%-40% partners in the Woodjam Joint Venture ("WJV"), jointly put their interests in the WJV into the new company. Shareholders of Fjordland and Cariboo Rose received shares in Woodjam Copper. Woodjam Copper currently owns a 100% interest in the Woodjam North and Woodjam South properties which are under option to Gold Fields who may earn up to a 70% interest in the properties.
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