Altius Resources Inc. Acquires Additional Common Shares of Wolfden Resources Corporation
Altius Resources Inc. (“Altius”), a wholly-owned subsidiary of Altius Minerals Corp. (TSX:ALS) (OTCQX: ATUSF) today announces that it has entered into a subscription agreement to acquire ownership of 3,125,000 common shares (“Shares”) of Wolfden Resources Corp. (TSXV: WLF) (“Wolfden”), with its head office at Unit 5, 1100 Russell Street, Thunder Bay, Ontario, P7B 5N2.
The Shares will be acquired by Altius pursuant to a non-brokered private placement (“Private Placement”) of an aggregate of 6,250,000 common shares of Wolfden. Altius will acquire the Shares at a price of $0.32 per Share for an aggregate purchase price of $1,000,000 upon Wolfden obtaining approval of the TSX Venture Exchange for the Private Placement.
The Shares to be acquired by Altius under to the Private Placement will represent 2.28% of the issued and outstanding Common Shares of Wolfden (“Common Shares”).
Prior to the closing of the Private Placement, Altius owns 14,200,000 Common Shares representing 10.86% of the issued and outstanding Common Shares and 7,100,000 warrants of Wolfden (“Warrants”) exercisable into 7,100,000 Common Shares, which, if exercised, would represent approximately 15.44% of the issued and outstanding Common Shares. Following completion of the Private Placement, Altius will own 17,325,000 Common Shares representing 12.63% of the issued and outstanding Common Shares and 7,100,000 Warrants. If Altius exercises all Warrants held by it, Altius would hold an aggregate of 24,425,000 Common Shares representing approximately 16.94% of the issued and outstanding Common Shares post-exercise.
Altius will acquire the Shares for investment purposes only, and depending on market and other conditions, Altius may from time to time in the future increase or decrease its ownership, control or direction over securities of Wolfden, through market transactions, private agreements, or otherwise. The head office of Altius is located at 38 Duffy Place, 2nd Floor, St John's, NL A1B 4M5.
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.
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Contact
Chad Wells
Email: Cwells@altiusminerals.com
Tel: 1.877.576.2209