Business
Altius Announces Definitive Agreement to Acquire Lithium Royalty Corp.
Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF) ( “Altius” ) and Lithiu...
About this update from Altius Minerals Corporation
[{"type":"text","content":"Altius Announces Definitive Agreement to Acquire Lithium Royalty Corp.\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }\n.bwuline { text-decoration: underline }\n \n\n\n\n\n Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF)\n \n (\n \n “Altius”\n \n ) and Lithium Royalty Corp. (TSX: LIRC) (\n \n “LRC”\n \n ) announce that they have entered into a definitive agreement (the\n \n “Agreement”\n \n ) in which Altius will acquire all of the issued common shares and convertible common shares of LRC (together, the “\n \n LRC Shares\n \n ”) pursuant to a plan of arrangement (the\n \n “Transaction”\n \n ) for total consideration of approximately C$520 million, being C$9.50 per LRC equity share (the “\n \n Agreed Price\n \n ”). The Agreed Price is payable by Altius at the shareholders’ election as C$9.50 in cash or 0.240 of a common share of Altius (the “\n \n Altius Shares\n \n ”), subject to proration to ensure the aggregate cash consideration represents no more than 1/3 of the aggregate consideration and the share consideration represents no more than 11,500,000 Altius Shares. LRC shareholders who do not elect cash or Altius Shares (subject to proration) will receive default consideration of C$3.16 per LRC Share in cash and 0.16 Altius Shares per LRC Share.\n \n\n In aggregate, the consideration consists of approximately C$173 million in cash and approximately C$347 million in Altius Shares. Altius holds an effective pre-existing approximate 8% gross ownership interest in LRC flowing from its holding of units of certain limited partnerships that hold LRC equity share conversion rights.\n \n\n\n Benefits to Altius Shareholders\n \n\n\n\n Large portfolio of royalties relating to a rapidly progressing pipeline of operating to exploration stage projects\n \n\n\n\n 37 new royalties (no streams) with the majority featuring long to ultra-long implied resource lives – a fundamental long-term optionality consideration for Altius.\n \n\n 4 producing stage royalties (3 commissioned in 2025) - each of which are currently ramping up and/or under expansion.\n \n\n 12 advanced stage projects with completed economic studies (Feasibility Study (7), Preliminary Economic Assessment (5...