RE:Altius Expresses Shareholder Concerns to Labrador Iron Altius Provides Update to Concerned Shareholder Discussions with Labrador Iron Ore Royalty Corporation
St. John’s - Altius Minerals Corporation (“Altius”) (ALS:TSX, ATUSF: OTCQX) reports that during a constructive meeting held with representatives of Labrador Iron Ore Royalty Corporation (“LIORC”) on February 22, 2019, it received positive assurances that LIORC no longer intends to pursue changes to its current Articles or its passive flow-through mandate and that it will maintain adherence to its policy of paying dividends to the maximum extent possible.
LIORC also advised that the topic of segregating its respective Iron Ore Company of Canada (“IOC”) related royalty and equity interests is set to be generally discussed at its next board meeting where, if it is determined by the Board to be in the best interests of LIORC and its shareholders, the Board will not hesitate to bring it forward. Altius was also invited to provide LIORC with materials derived from its own internal analysis and consideration of the matter, to which it has agreed.
Brian Dalton, CEO of Altius, commented that, “We became major shareholders of LIORC on the underlying basis of its passive flow-through mandate related primarily to its royalty interest in the operations of IOC. We are pleased now to have received the increased certainty levels we were seeking in order to maintain our indirect interest in this world class asset. We also look forward to continued positive and constructive future shareholder engagement with LIORC.”