Altius Minerals Corp T.ALS

Alternate Symbol(s): ATUSF

Metals & Mining Industrial Metals & Minerals

Altius Minerals Corporation is focused on growing its royalty business through prospect generation and the creation and acquisition of royalties. It diversified mineral royalties from 11 operating mines located in Canada (nine) and Brazil (two) that produce copper, nickel, cobalt, lithium, potash and iron ore. Its segments include Mineral Royalties, Project Generation and Renewable Royalties. The Mineral Royalties consist of the acquisition and management of producing and development stage royalty and streaming interests. The Project Generation segment is engaged in acquisition and early-stage exploration of mineral resource properties with a goal of vending the properties to third parties in exchange for early-stage royalties and minority equity or project interests. The Renewable Royalties segment includes a majority interest holding in publicly traded Altius Renewable Royalties Corp., which is focused on the acquisition and management of renewable energy investments and royalties.

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Altius Minerals Corp

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Post by lhyneson May 23, 2002 12:00am

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Post# 5138309

Altius Closes Private Placement

Altius closes private placement, gets ready to spend it Altius Minerals Corp Shares issued 14,319,284 Wednesday May 22 2002 Mr. Brian Dalton reports FINANCING CLOSED-EXPLORATION UPDATE Altius Minerals has closed a previously announced one-million-unit private placement for gross proceeds of $1.05-million. Each unit, priced at $1.05, consists of one common share and one-half of one common share purchase warrant. Each whole common share purchase warrant entitles the holder to purchase one common share at a price of $1.25 for 12 months from the date of closing and at a price of $1.50 during the subsequent 12 months. The securities are subject to a four-month hold period. Haywood Securities Inc., which acted as agent, has been paid a 7-per-cent cash commission and has been issued 100,000 (10 per cent) agent's warrants that are exercisable at $1.25 for 12 months from the date of closing. Institutional investors have subscribed for the majority of the placement. Net proceeds of the financing will be used for project generation, advancement of the company's wholly owned properties and general working capital. Exploration update The company has commenced an active 2002 field season, which will include several drilling programs. In the Botwood basin, drilling is set to resume on the Moosehead property with partner Sudbury Contact Mines. This phase of drilling will involve approximately 35 holes and will target areas highlighted during the 2001 and early 2002 drill programs. Further details of the planned drilling program will be released shortly. Elsewhere in the Botwood basin, grassroots prospecting has commenced with partner Barrick Gold. Drilling is also set to commence on the Robert's Arm property with partner Inmet Mining and will test an area near the final hole of the 2001 program, which intersected VMS-style alteration and mineralization. Further details of the planned drilling program will be released shortly. (c) Copyright 2002 Canjex Publishing Ltd. https://www.canada-stockwatch.com

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