HAS ANYONE HERE HEARD OF FAIRFAX FINANCIAL HOLDINGS?????
On the 24/02/17 Altius announced a deal with Fairfax Financial Holdings Ltd. amounting to $100 MILLION. Read the deal carefully and what should come out as plain as day is that $15 price is mentioned and that my dear friends is a fair value price for ALS right now never mind in the future where it would be like giving the shares away. I want you to remember that this great company's shares once traded as high as CA$30 on criteria 50 times less than it has achieved to date.So there you have it those of you who cannot read have been giving your shares away at current level......NOW READ THE DEAL AGAIN.....I would also recommend you listen to James Dines on King World News who likes just about all the metals Altius is involved in Altius Minerals to receive $100M investment from Fairfax 2017-02-24 09:12 ET - News Release Mr. Brian Dalton reports FAIRFAX TO MAKE STRATEGIC INVESTMENT IN ALTIUS Altius Minerals Corp. has entered into a letter agreement, pursuant to which Fairfax Financial Holdings Ltd., through certain of its subsidiaries, will make an investment of up to $100-million in Altius in exchange for the issuance by Altius of preferred securities and warrants. Fairfax has agreed to subscribe, on a private placement basis, for 5 per cent of the company's preferred securities in an aggregate amount of $100-million, issuable in tranches of not less than $25-million. Altius intends to close an initial subscription of $25-million and has sole discretion with respect to additional subscriptions by Fairfax for the remaining $75-million in minimum tranche sizes of $25-million by no later than Dec. 31, 2017. The preferred securities will be subordinate secured and have no fixed maturity date but may be redeemed by Altius at any time after five years from closing, or after three years if its common shares are trading at a price of at least $24 per share. Altius has also agreed to issue 6.67 million common share purchase warrants, exercisable at $15 per share. Warrants will vest proportionately based on the aggregate amount of preferred securities drawn by Altius under the private placement. Each vested warrant will be exercisable within five years, but may be extended to seven years if the closing price of the Altius common shares is less than $24 on the fifth anniversary of the initial closing. Altius can also elect to require early exercise of the warrants if the closing price of its common shares reaches $24 at any time after the third anniversary of the initial closing. The proceeds raised from the Fairfax financing will be used by Altius for investing in opportunities it identifies within the mining and minerals sector and for general corporate purposes. Fairfax will have the right to nominate one director to the board of directors of Altius. Altius's chief executive officer, Brian Dalton, commented: "Fairfax's 30-year record of growth is nothing short of iconic and we are both honoured and motivated by this endorsement. This deal provides Altius with an attractive new source of long-term capital and, perhaps more importantly, access to Fairfax's remarkable strength and team experience as we continue to pursue our long-term objectives." Prem Watsa, chairman and chief executive officer of Fairfax, added: "Altius is establishing an impressive entrepreneurial growth record within the Canadian mining sector and has created an excellent base of long-term assets to now build upon. We are delighted to be working with and supporting the Altius team at such an exciting time in its development." Closing of the transaction is subject to the settlement of mutually agreeable definitive documentation and other customary closing conditions, including the approval of the Toronto Stock Exchange and receipt of all other requisite third party approvals. About Altius Minerals Corp. Altius directly and indirectly holds diversified royalties and streams that generate revenue from 15 operating mines. These are located in Canada and Brazil and produce copper, zinc, nickel, cobalt, iron ore, potash, and thermal (electrical) and metallurgical coal. The portfolio also includes numerous predevelopment-stage royalties covering a wide spectrum of mineral commodities and jurisdictions. In addition, Altius holds a large portfolio of exploration-stage projects which it has generated for deal making with industry partners that results in newly created royalties and equity and minority interests. We seek Safe Harbor.