07:55 AM EDT, 07/29/2025 (MT Newswires) -- Western Metallica Resources (WMS.V) after markets closed on Monday, said Brigitte Berneche resigned from its board of directors.

The company said it has been working with its creditors in Peru through its local unit, Green Rock Copper S.A.C., to agree to "appropriate" settlement terms for outstanding debts primarily related to the drill program completed in February 2025. It said the "disappointing" drill results were the primary reason for ceasing exploration activities in Peru as it was no longer able to finance additional exploration work.

Western Metallica also said it made modifications to the debt held by its Chief Executive Greg Duras. The company said the borrower and the lender may negotiate repayment of the loan through the transfer of securities or other investment products but any arrangement for repayment other than cash remains subject to all applicable regulatory rules and terms. The lender may also assign or transfer all or any part of its rights and obligations under the loan agreement.

Shares of the company closed unchanged at $0.070 on Monday on the TSX Venture Exchange.