TIDMALS
RNS Number : 8042G
Altus Strategies PLC
27 November 2020
Altus Strategies Plc / Index (EPIC): AIM (ALS) TSX-V (ALTS)
OTCQX (ALTUF) / Sector: Mining
27 November 2020
Altus Strategies Plc
("Altus" or the "Company")
Altus Completes Gold Royalty & Equity Deal in Ivory
Coast
Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF)
announces the completion of the sale of the Prikro and Zenoula gold
projects ("Projects") located in the Republic of Côte d'Ivoire
("Ivory Coast") to TSX-V listed Stellar Africa Gold Inc.
("Stellar") in return for equity and warrants in Stellar, a Net
Smelter Returns ("NSR") royalty on the Projects and potential
future Project milestone payments.
Highlights:
-- Altus has sold a 100% interest in two Ivory Coast gold projects and has received:
o a 2.5% NSR royalty on the Projects
o 2,500,000 Stellar shares with a current market value of
approximately C$125,000
o 2,500,000 share purchase warrants, each exercisable to
purchase a Stellar share for 24 months at C$0.07
-- Subject to the progress of the Projects, Altus will receive further equity based payments
-- Transaction initially announced on 16 September 2020
Steven Poulton, Chief Executive of Altus, commented:
"We are pleased to close this royalty and equity transaction
with Stellar on two prospective gold projects in Ivory Coast. Altus
is focused on realising value from a high quality, diversified and
precious metal focused portfolio of royalty assets. This
transaction further underscores our royalty generation strategy and
we look forward to Stellar's exploration progress on the
Projects."
Transaction Terms
Stellar has acquired a 100% interest in Aeos Resources Ltd
("Aeos"), a formerly wholly owned Seychelles incorporated
subsidiary of the Company. Through its Ivorian subsidiary Aucrest
SARL, Aeos holds a 100% interest in the Projects.
In consideration, Altus has received:
1. 2,500,000 units of Stellar, each unit consisting of one
common share and one non-transferable share purchase warrant
exercisable to purchase a common share for two years at C$0.07 per
share. The shares and any shares issuable on exercise of the
warrants are subject to a four month restricted resale (hold)
period expiring March 26, 2021; and
2. a 2.5% NSR royalty on each Project. Stellar may repurchase up
to 1.0% of each royalty for US$500,000 for each 0.5%.
Contingent upon reaching exploration milestones on each Project,
Stellar will also make two further issuances per Project of shares,
equal to US$250,000 in value:
a. upon completion of an NI 43-101 resource estimate of not less
than 500,000 ounces of gold with not less than 250,000 ounces in
the Inferred category; and
b. upon completion of a definitive feasibility study.
Qualified Person
The technical disclosure in this regulatory announcement has
been approved by Steven Poulton, Chief Executive of Altus. A
graduate of the University of Southampton in Geology (Hons), he
also holds a Master's degree from the Camborne School of Mines
(Exeter University) in Mining Geology. He is a Fellow of the
Institute of Materials, Minerals and Mining and has over 20 years
of experience in mineral exploration and is a Qualified Person
under the AIM rules and NI 43-101.
For further information you are invited to visit the Company's
website www.altus-strategies.com or contact:
Altus Strategies Plc Tel: +44 (0) 1235 511 767
Steven Poulton, Chief Executive E: info@altus-strategies.com
SP Angel (Nominated Adviser) Tel: +44 (0) 20 3470 0470
Richard Morrison / Adam Cowl
SP Angel (Broker) Tel: +44 (0) 20 3470 0471
Abigail Wayne / Richard Parlons
Yellow Jersey PR (Financial PR & IR) Tel: +44 (0) 20 3004 9512
Georgia Colkin / Charles Goodwin / Henry E: altus@yellowjerseypr.com
Wilkinson
About Altus Strategies Plc
Altus Strategies (AIM: ALS, TSX-V: ALTS & OTCQX: ALTUF) is a
mining royalty company generating a diversified and precious metal
focused portfolio of assets. The Company's focus on Africa and
differentiated approach, of generating royalties on its own
discoveries as well as through financings and acquisitions with
third parties, has attracted key institutional investor backing.
The Company engages constructively with all stakeholders, working
diligently to minimise its environmental impact and to promote
positive economic and social outcomes in the communities where it
operates. For further information, please visit
www.altus-strategies.com .
Cautionary Note Regarding Forward-Looking Statements
Certain information included in this announcement, including
information relating to future financial or operating performance
and other statements that express the expectations of the Directors
or estimates of future performance constitute "forward-looking
statements". These statements address future events and conditions
and, as such, involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by the statements.
Such factors include without limitation the completion of planned
expenditures, the ability to complete exploration programmes on
schedule and the success of exploration programmes. Readers are
cautioned not to place undue reliance on the forward-looking
information, which speak only as of the date of this announcement
and the forward-looking statements contained in this announcement
are expressly qualified in their entirety by this cautionary
statement.
Where the Company expresses or implies an expectation or belief
as to future events or results, such expectation or belief is based
on assumptions made in good faith and believed to have a reasonable
basis. The forward-looking statements contained in this
announcement are made as at the date hereof and the Company assumes
no obligation to publicly update or revise any forward-looking
information or any forward-looking statements contained in any
other announcements whether as a result of new information, future
events or otherwise, except as required under applicable law or
regulations.
TSX Venture Exchange Disclaimer
Neither the TSX Venture Exchange nor the Investment Industry
Regulatory Organisation of Canada accepts responsibility for the
adequacy or accuracy of this release.
Market Abuse Regulation 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 ("MAR") until the release of this
announcement.
Glossary of Terms
The following is a glossary of technical terms:
"NI 43-101" means National Instrument 43-101 "Standards of
Disclosure for Mineral Projects" of the Canadian Securities
Administrators
"NSR" means net smelter returns
"Qualified Person" means a person that has the education, skills
and professional credentials to act as a qualified person under NI
43-101
"TSX-V" means the TSX Venture Exchange
**END**
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