Business
Triple Flag Proposes to Acquire Orogen Royalties Inc.
Altius agrees to request from Orogen to enter a conditional Voting Support Agreement ...
About this update from Altius Minerals Corporation
[{"type":"text","content":"Triple Flag Proposes to Acquire Orogen Royalties Inc.\n\n\n .bwalignc { text-align: center; list-style-position: inside }\n.bwlistdisc { list-style-type: disc }\n \n\n\n\n\n Altius agrees to request from Orogen to enter a conditional Voting Support Agreement\n \n\n\n\n\n\n Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF)\n \n Altius Minerals Corporation (“Altius”) reports that Orogen Royalties Inc. (“Orogen”), of which it is a major shareholder with 39,557,960 Orogen shares, has announced a definitive agreement with Triple Flag Precious Metals Corp. (“Triple Flag”) whereby Triple Flag will acquire all of the issued and outstanding common shares of Orogen for total consideration of approximately $421 million or $2.00 per Orogen share, comprised of approximately $171.5 million in cash, $171.5 million in Triple Flag shares, and shares of a new company (“Orogen Spinco”) with an implied value of approximately $78 million. Orogen requested that Altius enter into a Voting Support Agreement in respect of the transaction and it has done so subject to certain conditions including an ability to rescind its support in the event that a superior offer is received prior to completion of the transaction.\n \n\n Brian Dalton, CEO of Altius commented, “As a long-time shareholder of Orogen we are happy to support its decision to enter into this transaction with Triple Flag. We are pleased with the opportunities both to remain as a supportive shareholder of a continuing royalty business that will be led by Orogen’s existing management, as well as to maintain continuing growth potential exposure to Orogen’s 1% NSR royalty interest in the new Silicon gold district discoveries in Nevada through a significant shareholding in Triple Flag. We also believe that this transaction reasonably aligns with the technical perspectives we have developed internally concerning the current extent of, and continuing growth potential, of the Silicon and Merlin discoveries – as well as the value that our separate 1.5% NSR royalty represents for our shareholders.”\n \n\n Triple Flag and Orogen will hold a joint conference call and webcast today at 8:30 am ET (see Events and Presentations section on Triple Flag’s website at\n \n www.tripleflagpm.com\n \n ).\n \n\n\n Key ...