|Vancouver, British Columbia - Global Copper Corp. wishes to advise that in connection with the exchange completed on August 1, 2008 of the Global Class B Shares for Global Class A Shares and Lumina Shares, Global has determined that the fair market value of each Lumina Share distributed on the exchange was equal to $1.4980. Further, Global has determined that the paid-up capital of each Global Class B Share was equal to $1.4088. Accordingly, on the exchange Global was deemed to have paid a dividend on each Global Class B share equal to $0.0892. |
Global has designated the dividend that was deemed to arise on the exchange of the Global Class B Shares for Global Class A Shares and Lumina Shares to be an eligible dividend for purposes of the Income Tax Act (Canada).
You may find this information useful for tax purposes.
These tax consequences are explained in greater detail in the Management Information Circular of Global dated June 17, 2008. All capitalized terms used herein have the meanings given to them in the Management Information Circular.