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World Copper and Allante Resources Announce Amended Concurrent Financing Terms

Not for distribution to United States newswire services or for release, publication, distribution or dissemination directly, or indirectly, in whole or in part, in or into the United States.

FOR IMMEDIATE RELEASE…Vancouver, British Columbia: World Copper Ltd. (“World Copper”) and Allante Resources Ltd. (TSXV: ALL.H) (“Allante”) advise of an amendment to the terms of a previously announced (see news release dated December 23, 2020) concurrent financing of a minimum of 24,166,667 units of World Copper up to a maximum of 27,083,333 units (each consisting of one common share and one warrant) at a price of $0.12 per unit for minimum gross proceeds of $2,900,000 and up to a maximum gross proceeds of $3,250,000 (the “Concurrent Financing”).  As amended, each warrant will be exercisable for one common share from the date of issuance until July 27, 2025.  The Concurrent Financing is expected to close immediately prior to or concurrently with the closing of the previously announced qualifying transaction.  

This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful.

On Behalf of the Board of Directors of
World Copper

“Patrick Burns”
President and CEO
On Behalf of the Board of Directors of

“Joe DeVries”
President and CEO
For further information, please contact: World Copper

Marla Ritchie, Corporate Secretary [email protected]

Joe DeVries, President and CEO
(604) 336-8616

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Cautionary Statement Regarding Capital Pool Companies

Neither the TSXV nor its regulation services provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. The TSXV has in no way passed upon the merits of the proposed Concurrent Financing and has neither approved nor disapproved the contents of this press release.

Completion of the Concurrent Financing is subject to a number of conditions, including but not limited to, final TSXV acceptance.  There can be no assurance that the the Concurrent Financing will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Filing Statement, any information released or received with respect to the Concurrent Financing may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, statements with respect to World Copper and Allante’s expectation that they will be able to complete the Concurrent Financing, are forward-looking statements. In making the forward-looking statements in this news release, World Copper and Allante have applied several material assumptions, including without limitation, that final TSXV acceptance and the required corporate approvals of the Concurrent Financing will be obtained, that there will be investor interest in the Concurrent Financing.  

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of World Copper and Allante to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Such risks and other factors include, lack of investor interest in the Concurrent Financing, risks relating to epidemics or pandemics such as COVID–19, including the impact of COVID–19 on World Copper’s business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of World Copper or Allante, as applicable, to obtain any necessary permits, consents, approvals or authorizations, including final acceptance by the TSXV required for the Concurrent Financing and other risks and uncertainties disclosed in Allante’s continuous disclosure documents and TSXV filing statement for the qualifying transaction. All of Allante’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical report on World Copper’s Escalones project which is filed on Allante’s SEDAR profile.

Readers are cautioned not to place undue reliance on forward-looking statements. Neither World Copper nor Allante undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.


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