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“) are pleased to announce the closing of a non-brokered private placement consisting of 27,031,466 units of World Copper (each, an “Offered Unit“) at a price of $0.12 per Offered Unit for aggregate gross proceeds of $3,243,775.92 (the “Concurrent Financing“), which Concurrent Financing was previously announced in connection with the parties’ qualifying transaction (see news releases dated December 23, 2020 and December 24, 2020).  Each Offered Unit was comprised of one common share in the capital of World Copper (each, a “World Copper Share“) and one common share purchase warrant (each, a “World Copper Warrant“), with each World Copper Warrant exercisable for one World Copper Share at a price of $0.20 per World Copper Share from the date of issuance until July 27, 2025.

In connection with the Concurrent Financing, World Copper paid aggregate finder’s fees consisting of $237,742.09 in cash and issued 1,981,182 non-transferrable finder’s warrants (each, a “Finder’s Warrant“).  Each Finder’s Warrant entitles the holder thereof to purchase one World Copper Share at a price of $0.20 per World Copper Share for a period of 24 months from the date of issuance.

Mackie Research Capital Corporation received finder’s fees consisting of $137,758.08 cash and 1,147,984 Finder’s Warrants, Red Cloud Securities Inc. received finder’s fees consisting of $48,000 cash and 400,000 Finder’s Warrants, PI Financial Corp. received finder’s fees consisting of $1,920 cash and 16,000 Finder’s Warrants, Haywood Securities Inc. received finder’s fees consisting of $9,120 cash and 76,000 Finder’s Warrants, David Smith received finder’s fees consisting of $22,944 cash and 191,199 Finder’s Warrants, David R.G. Morum received finder’s fees consisting of $1,400 cash and 11,666 Finder’s Warrants, Gerald Stern received finder’s fees consisting of $1,000 cash and 8,333 Finder’s Warrants, and MJP Justus Inc. received finder’s fees consisting of $15,600.01 cash and 129,999 Finder’s Warrants.

All securities issued pursuant to the Concurrent Financing are subject to a four month and one day hold period in Canada.  The Concurrent Financing is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the final acceptance for filing of the Concurrent Financing with the TSX Venture Exchange (the “TSXV“) and any applicable securities regulatory authorities.

On Behalf of the Board of Directors of
World Copper

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

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

Marla Ritchie, Corporate Secretary marla@worldcopperltd.com
Allante

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.

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 anticipated business plans and the timing of future activities of the Company are forward-looking statements that involve various risks and uncertainties, 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.  

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, without limitation, 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 the 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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