Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius” or the “Corporation”) is pleased to announce that it has renewed its Normal Course Issuer Bid (“NCIB”) and it may purchase at market price up to 1,622,920 common shares (“Shares”), being approximately 3.9% of the 41,450,126 common shares issued and outstanding as of August 18 2020, by way of an NCIB through the facilities of the Toronto Stock Exchange (“TSX”) or a Canadian alternative trading system. The bid is subject to regulatory approval. The NCIB will commence August 22, 2020 and will end no later than August 21, 2021. Any Shares purchased during the NCIB will be cancelled and returned to treasury.
The TSX rules permit Altius to purchase daily, through TSX facilities or approved alternative trading systems, a maximum of 19,791 Shares under the NCIB. From August 22, 2019 to August 18, 2020, Altius purchased a total of 1,344,400 Shares through market purchases on the TSX at a weighted average price of $10.52 per Share, while its approval allowed for it to purchase a maximum number of 1,779,103 Shares. The reason for the NCIB is that, in the opinion of the board of directors, the value of Altius, based on anticipated cash flows and underlying asset values, is from time to time greater than the market price of the Shares and accordingly the acquisition of Shares under the NCIB represents an appropriate use of funds. Altius has had an active NCIB program every year since 2010.
About Altius
Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. Altius has 41,450,126 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.
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