TIDMALS
RNS Number : 5354G
Altus Strategies PLC
02 March 2018
Altus Strategies Plc / Index: AIM / EPIC: ALS / Sector:
Mining
NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES NOR FOR
DISSEMINATION IN THE UNITED STATES OF AMERICA
02 March 2018
Altus Strategies Plc
("Altus" or the "Company")
Private Placement & TSX Venture Exchange Listing Update
Altus Strategies Plc (AIM: ALS), the Africa focused exploration
project generator, announces a non-brokered private placement
offering of units ("Units") to a minimum of C$2,545,050 and a
maximum of C$5,000,100 at an issue price of C$0.15 per Unit (the
"Offering"). Each Unit is comprised of one ordinary share in the
capital of Altus ("Ordinary Share") and one Ordinary Share purchase
warrant of Altus ("Warrant") exercisable to purchase one Ordinary
Share for five years from the closing of the offering ("Closing")
at an exercise price of C$0.30.
Sprott Capital Partners, a division of Sprott Private Wealth LP,
and affiliates will act as finders in connection with the Offering
(the "Finders"). Finder's fees may be payable on all or a portion
of the Offering, and will consist of a cash fee of up to 6.0% of
the gross proceeds received from the sale of the Units sold to
investors introduced by the Finders and that number of
non-transferrable share purchase warrants ("Finder Warrants") equal
to 5.0% of the number of Units sold to investors introduced by the
Finders, each Finder Warrant entitling the Finder to purchase one
Ordinary Share for three years from the Closing at C$0.225.
The Company anticipates that certain directors and employees of
the Company will participate in the Offering, including by way of
receiving Units in settlement of outstanding debts, being fees and
salaries that are payable as at Closing.
The net proceeds from the Offering will be used for exploration
and generative activities on the Company's licences in Africa and
for general corporate purposes.
The Offering is being made in the Canadian provinces of British
Columbia, Alberta, Saskatchewan, Manitoba, Newfoundland and Ontario
and in the United Kingdom and other jurisdictions as may be
determined between the Company and the Finders, and is subject to
the approval of applicable regulatory authorities.
It is anticipated that the Offering will close in the week of
April 2(nd) , 2018, and is subject to the completion of formal
documentation, receipt of all necessary regulatory approvals and
other customary conditions.
Update on TSX Venture Exchange Listing
The Company has made an application for the listing of its
Ordinary Shares on the TSX Venture Exchange; approval is
anticipated shortly after completion of this Offering. All of the
securities sold pursuant to the Offering will be subject to a four
month hold period from the date of Closing.
This news release does not constitute an offer to sell or a
solicitation of an offer to buy, nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful, including any of the
securities in the United States of America. The securities have not
been and will not be registered under the United States Securities
Act of 1933 (the "1933 Act") or any state securities laws and may
not be offered or sold within the United States or to, or for
account or benefit of, U.S. persons (as defined in Regulation S
under the 1933 Act) unless registered under the 1933 Act and
applicable state securities laws, or an exemption from such
registration requirements is available.
Statement re: Joint Broker
The Company notes the announcement today regarding Beaufort
Securities Limited ("BSL") and Beaufort Asset Clearing Services
Limited ("BACSL") being placed into insolvency and that the
Financial Conduct Authority (the "FCA") has imposed requirements on
BSL and BACSL to cease all regulatory activity.
BSL was the joint broker to the Company pursuant to the AIM
Rules for Companies (the "AIM Rules"). As a result of the
requirements imposed by the FCA, BSL will no longer be able to
provide broking services to the Company and accordingly SP Angel
will act as sole London broker to the Company in accordance with
the AIM Rules.
Market Abuse Regulation (MAR) Disclosure
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until the release of this
announcement.
For further information you are invited to visit the Company's
website www.altus-strategies.com or contact:
Altus Strategies Plc Tel: +44 (0)
Steven Poulton, Chief 1235 511 767
Executive E: info@altus-strategies.com
Matthew Grainger, Executive
Director
Greg Owen, VP Corporate
Development
SP Angel (Nominated Adviser) Tel: +44 (0)
Ewan Leggat / Richard 20 3470 0470
Morrison / Soltan Tagiev
SP Angel (Broker) Tel: +44 (0)
Elizabeth Johnson / Richard 20 3470 0471
Parlons
Blytheweigh (Financial Tel: +44 (0)
PR) 20 7138 3204
Tim Blythe / Camilla Horsfall
/ Nick Elwes
About Altus Strategies Plc
Altus is a diversified and Africa focused mineral exploration
project generator. Through our subsidiaries we discover new
projects and attract third party capital to fund their growth,
development and ultimately exit optionality. This strategy enables
Altus to remain focused on the acquisition of new opportunities to
be fed into the project generation cycle and aims to minimise
shareholder dilution. Our business model is designed to create a
growing portfolio of well managed and high growth potential
projects, diversified by commodity and by country. Altus currently
has seventeen projects in eight commodities across five countries.
We aim to position our shareholders at the vanguard of value
creation, but with significantly reduced risks traditionally
associated with investments in the mineral exploration sector.
Forward-Looking Statements
This news release includes certain statements that may be deemed
"forward looking statements" with the meaning of applicable
securities laws. All statements in this news release, other than
statements of historical facts, that address events or developments
that Altus Strategies Plc expects to occur, are forward looking
statements and involve known and unknown risks, uncertainties and
other factors. Forward looking statements are statements that are
not historical facts and are generally, but not always, identified
by the words "expects", "plans", "anticipates", "believes",
"intends", "estimates", "projects", "potential", "targets" and
similar expressions, or that events or conditions "will", "would",
"may", "could" or "should" occur. The Company believes the
expectations, estimates, forecasts and projections expressed in
such forward looking statements are based on reasonable
assumptions. However, investors are cautioned that such statements
are not guarantees of future performance and the Company cannot
provide assurance that actual results or performance will not
differ materially from those projected in the forward looking
statements. Factors that could cause the actual results to differ
materially from those in forward looking statements include changes
in market prices, exploration results and the interpretation of
other geological data, the ability of the Company to obtain,
maintain, renew and/or extend required licences, permits,
authorizations and/or approvals from the appropriate regulatory
authorities and other risks relating to the legal and regulatory
frameworks in jurisdictions where the Company operates, competitive
conditions in the mineral exploration sector, the activities of
artisanal miners, whose activities could delay or hinder
exploration or mining operations, the risk that third parties to
contracts may not perform as contracted or may breach their
agreements, the ability to attract and retain key management and
personnel, terrorism, civil strife, or war in the jurisdictions in
which the Company operates, or in neighbouring jurisdictions which
could impact on the Company's exploration, development and
operating activities, unanticipated costs and expenses, the
continued availability of capital and financing on acceptable terms
or at all, and general economic, market or business conditions.
Any references made in this news release to historical
information, including historical geologic and technical
information cannot be verified. A Qualified Person has not verified
the sampling, analytical, and test data underlying any such
historical information. The Company has obtained historical
information from sources that it believes to be reliable and
assumes it is accurate and complete in all material aspects. While
the Company has carefully reviewed the available historical
information, it cannot guarantee its accuracy and completeness. The
forward looking information and statements included in this
announcement are expressly qualified by this cautionary statement
and are based on the beliefs, estimates and opinions of the Company
on the date of this announcement. Except as required by securities
laws the Company does not undertake any obligation to publicly
update or revise any forward looking statements in the event that
management's beliefs, estimates or opinions, or other factors,
should change.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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