TORONTO, Dec. 3, 2021 /CNW/ - Pala Assets Holdings Limited ("Pala Assets") announces that on Wednesday, December 1, 2021 it acquired beneficial ownership of, and control or direction over, an aggregate of 10,000,000 common shares ("Common Shares") of Nevada Copper Corp. (TSX: NCU) (the "Company") and 5,000,000 Common Share purchase warrants ("Warrants" and together with the Common Shares, the "Securities") pursuant to a private transaction with its affiliate, Pala Investments Limited ("Pala Investments"). The Securities were acquired for an aggregate purchase price of C$7,700,000.00. Each Warrant is exercisable for one Common Share at a price of C$1.00 per Warrant at any time until May 29, 2023.

Immediately prior to the acquisition, Pala Assets did not own any securities of the Company. Immediately following the acquisition, Pala Assets had beneficial ownership of and exercised control or direction over 10,000,000 Common Shares and 5,000,000 Warrants, representing approximately 2.24% of the issued and outstanding Common Shares on a non-diluted basis (on the basis of 445,900,563 Common Shares being issued and outstanding as of the date hereof). If Pala Assets fully exercises the Warrants acquired under the transaction referred to herein, Pala Assets would hold an aggregate 15,000,000 of the issued and outstanding Common Shares on a partially-diluted basis, representing approximately 3.33% of the issued and outstanding Common Shares (on the basis of 450,900,563 Common Shares being issued and outstanding).

Following completion of this acquisition, Pala Assets, together with its affiliate and joint actor, Pala Investments, owns 167,759,110 Common Shares, representing approximately 37.62% of the issued and outstanding Common Shares on a non-diluted basis and 235,627,115 Common Share purchase warrants exercisable into an aggregate of 81,209,774 Common Shares, representing approximately 47.23% of the issued and outstanding Common Shares on a partially-diluted basis (assuming the exercise in full of all of Pala Assets' and Pala Investments' warrants and on the basis of 527,110,337 Common Shares being issued and outstanding).

Pala Assets holds the Common Shares and Warrants for investment purposes. Pala Assets or another controlled entity may acquire or dispose of additional securities of the Company in the future through the market, privately, or otherwise, as circumstances or market conditions warrant. Any transaction that Pala Assets or another controlled entity may pursue may be made at any time and from time to time without prior notice and will depend on a variety of factors, including, without limitation, the price and availability of the Company's securities, subsequent developments affecting the Company, its business and prospects, other investment and business opportunities available to Pala Assets, general industry and economic conditions, the securities markets in general, tax considerations and other factors deemed relevant by Pala Assets.

The head office of the Company is located at 61 E. Pursel Lane, Yerington, Nevada, United States, 89447. For further information please contact Rich Matthews, Investor Relations, at +1 604 757 7179.

Pala Assets is a company existing under the laws of Jersey and its address is 12 Castle Street, St. Helier, Jersey JE2 3RT. For further information please refer to the Early Warning Report filed on SEDAR under the Company's profile at www.sedar.com or contact John Nagulendran at +41 41 560 9070.

SOURCE Pala Assets Holdings Limited.

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