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Allante Resources qualifying transaction, resumption

2021-01-22 20:28 ET - Resume Trading

See Qualifying Transaction (C-ALL) Allante Resources Ltd

The TSX Venture Exchange has accepted for filing the company's qualifying transaction (QT), as described in its filing statement dated Dec. 22, 2020. As a result, at the opening on Tuesday, Jan. 26, 2021, the company will no longer be considered as a capital pool company.

The QT consists of the acquisition of all the issued and outstanding securities of 1188893 B.C. Ltd. (formerly World Copper Ltd.) (8893), by way of a share exchange, in consideration of the issuance of 98,553,249 common shares at a deemed issue price of 20 cents per share.

A total of 66,175,594 common shares, 1.7 million common share purchase warrants and one special warrant exercisable for up to 24,446,702 common shares issued to 8893 shareholders are escrowed pursuant to an exchange Tier 2 value escrow agreement, and a total of 1,858,655 common shares are subject seed share resale restrictions (SSRR) and are subject to SSRR hold periods.

The company is classified as a nickel-copper ore mining issuer (NAICS No. 212232).

For further information, please refer to the company's filing statement dated Dec. 22, 2020, available on SEDAR.

Further to the TSX Venture Exchange bulletin dated June 10, 2019, trading in the securities of the company will resume at the opening on Tuesday, Jan. 26, 2021.

The company has met the requirements to be listed as a TSX Venture Exchange Tier 2 company. Therefore, effective on Tuesday, Jan. 26, 2021, the company's listing will transfer from the NEX to the TSX Venture Exchange, the company's tier classification will change from the NEX to Tier 2, and the filing and service office will change from the NEX to Vancouver.

Effective at the opening on Tuesday, Jan. 26, 2021, the trading symbol for the company will change from ALL.H to WCU.

The company has confirmed the closing of the qualifying transaction via a news release dated Jan. 18, 2021.

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