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Altius Minerals Announces Pricing of Altius Renewable Royalties IPO
ST. JOHN’S, Newfoundland and Labrador / Feb 25, 2021 / Business Wire / Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) repo
About this update from Altius Minerals Corporation
[{"type":"text","content":"ST. JOHN’S, Newfoundland and Labrador / Feb 25, 2021 / Business Wire / Altius Minerals Corporation (ALS:TSX) (ATUSF: OTCQX) (“Altius” or the “Corporation”) reports that Altius Renewable Royalties Corporation (“ARR”) has announced that it expects to commence trading on an “if, as and when issued” basis on the Toronto Stock Exchange on February 26, 2021 under the symbol “ARR”. The ARR initial public offering of 9,100,000 shares has been priced at C$11.00 per share for aggregate gross proceeds of C$100,100,000. Following the completion of the Offering, Altius is expected to hold 15,638,639 common shares or approximately 61% of the issued and outstanding shares of ARR (or approximately 58% of the issued and outstanding shares of ARR if the Over-Allotment Option is exercised in full). A copy of ARR’s supplemented PREP prospectus will be available on SEDAR at www.sedar.com on February 25, 2021. About Altius Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 41,477,653 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices. About ARR ARR is a recently formed renewable energy company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. The Company combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enablin...