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by Stockwatch Business Reporter

The TSX Venture Exchange closed up a fraction to 584.61 Wednesday. Joe DeVries's aging capital pool shell, the 12-year-old Allante Resources Ltd. (ALL: halted), has arranged a mining deal for its qualifying transaction. It plans to launch Wealth Copper Ltd., which has two copper projects in Chile called Cristal and Escalones. Wealth Copper is a spinoff from Henk van Alphen's Wealth Minerals Ltd. (WML: $0.395). In December, 2018, when Wealth Minerals first announced its plan to spin off its two Chilean copper projects, it explained that it wanted to focus on its Chilean lithium projects instead.

For its QT, Allante, which has 4,000,600 shares issued, will issue 25.03 million shares to Wealth Minerals and 25.03 million shares to TriMetals Mining Inc. (Wealth Copper is acquiring some of its Escalones concessions from TriMetals.) To finance Wealth Copper's exploration in Chile, Allante is selling a $2-million private placement at 20 cents. The shell plans to raise more money later, perhaps another $3-million.

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