ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Resources Inc. (“Altius Resources”), a subsidiary of Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF), announced today that on April 16, 2020 it disposed of ownership of 8,220,000 common shares (“Common Shares”) of Antler Gold Inc. (“Antler”), Suite 2001, 1969 Upper Water Street, Purdy’s Wharf Tower II, Halifax, NS, B3J 3R7, representing approximately 14.4% of the issued and outstanding Common Shares of Antler prior to the disposition. The Common Shares were disposed of as consideration for the purchase of property by Altius Resources, which comprises certain mineral claims near Wilding Lake in the Central Newfoundland area of Newfoundland and Labrador, and the value of the Common Shares ($657,600, based on the closing market price of the Common Shares on the TSX Venture Exchange on April 15, 2020) is expected to approximate the fair market value of the property.
Prior to the disposition of the Common Shares, Altius Resources held 8,220,000 Common Shares, representing approximately 14.4% of the Common Shares issued and outstanding of Antler. Following the disposition, Altius Resources does not own any Common Shares of Antler.
Altius Resources may from time to time increase or decrease its holdings of Common Shares of Antler depending on market and other conditions.
Further details may be obtained from the Early Warning Report filed on SEDAR by Altius Resources.
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 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. Altius has 41,804,196 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.