Business
Altius Completes Sale of 2/3 of its Silicon Gold 1.5% NSR to Franco-Nevada
Altius Retains 0.5% NSR interest as Long-Term Portfolio Component Altius Minerals C...
About this update from Altius Minerals Corporation
[{"type":"text","content":"Altius Completes Sale of 2/3 of its Silicon Gold 1.5% NSR to Franco-Nevada\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 Retains 0.5% NSR interest as Long-Term Portfolio Component\n \n\n\n\n\n\n Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF)\n \n Altius Minerals Corporation\n \n (“Altius”\n \n ) is pleased to announce that Altius Royalty Corporation (“ARC”), a wholly-owned subsidiary of Altius, has completed the sale of a 1% NSR royalty covering the Silicon and Merlin gold deposit discoveries in Nevada\n \n (“1% NSR Silicon Royalty”\n \n ) to a wholly owned subsidiary of Franco-Nevada Corporation (\n \n “Franco-Nevada”\n \n ) (TSX & NYSE: FNV) (\n \n “The Transaction”),\n \n pursuant to a royalty purchase agreement entered into by ARC and Franco-Nevada (the\n \n “Agreement”\n \n ). ARC will continue to hold a remaining 0.5% NSR royalty interest in Silicon (recently renamed to the Arthur Gold Project by AngloGold Ashanti plc (\n \n “AGA”\n \n ) as a long-term component of its diversified portfolio.\n \n\n The purchase price for the 1% NSR Silicon Royalty interest is US$ 275 million (~ C$ 375 million) comprised of US$ 250 million in upfront cash paid at closing and a further payment of US $25 million in cash payable upon the conclusion of an ongoing arbitration process that confirms the area subject to the royalty under final award to be consistent with Altius’s interpretation of the partial award of the arbitration tribunal that was issued and\n \n reported\n \n on earlier this year.\n \n\n The Board of Directors of Altius has received a fairness opinion from Cormark Securities Inc. which opinion concluded that, based upon and subject to the assumptions made, procedures followed, matters considered, limitations and qualifications set out therein, the consideration to be received by ARC pursuant to the Transaction is fair, from a financial point of view, to ARC.\n \n\n Brian Dalton, CEO of Altius commented, “We are pleased to partner with Franco-Nevada on this royalty, which encompasses AGA’s world-class Silicon and Merlin gold deposit discoveries in Nevada, as well as extensive area...