Post by
donaldrideout on Jan 03, 2021 8:34pm
alderon
Under the Acquisition, Altius will receive 600,000 Champion Iron shares as consideration for the sale of its portion of secured debt of Alderon. It also expects to receive a portion of the $15 million cash consideration and the future production-based payments stemming from its 37.3% equity holding in Alderon. The amount of cash consideration will be dependent on the Receiver’s approval process for any additional creditor claims, which will rank in priority over any amounts payable to equity holders. This process remains ongoing, but the Receiver has stated that it believes there will be a substantial recovery to Alderon shareholders.