ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius” or the “Corporation”) is pleased to report that its approximately 58% owned subsidiary, Altius Renewable Royalties Corporation (“ARR”), has today announced that it has entered into a definitive arrangement agreement with an affiliate of Northampton Capital Partners, LLC (“Northampton”) whereby Northampton will, subject to customary closing conditions, acquire all of the issued and outstanding common shares of ARR other than those indirectly owned by Altius by way of a statutory plan of arrangement for cash consideration of C$12 per share for total consideration of approximately C$162 million (the “Transaction”). Altius has entered into a voting support agreement to vote its shares in favour of the Transaction, subject to certain customary exceptions. Following completion of the Transaction, which is expected to occur in the fourth quarter of 2024, ARR expects to be delisted from the TSX and cease to be a reporting issuer, and upon closing will be held by Altius and Northampton on an approximately 57%-43% respective ownership basis. The Transaction does not impact ARR’s underlying 50% joint venture interest in Great Bay Renewables.
The full content of ARR’s announcement describing the Transaction can be found at arr.energy.
Altius Reports ARR Transaction with Northampton | Business Wire