Altus Strategies PLC Altus to Receive US$5.3M in Portfolio Rebalancing (2331M)
20 May 2022 - 4:01PM
UK Regulatory
TIDMALS
RNS Number : 2331M
Altus Strategies PLC
20 May 2022
Altus Strategies Plc / Index (EPIC): AIM (ALS) TSX-V (ALTS)
OTCQX (ALTUF) / Sector: Mining
20 May 2022
Altus Strategies Plc
("Altus" or the "Company")
Altus to Receive US$5.3 Million in Rebalancing of Australian
Royalty Portfolio
Altus Strategies Plc (AIM: ALS, TSX-V: ALTS, OTCQX: ALTUF)
announces that it has entered into a Sale and Purchase Agreement
("Agreement") with AlphaStream Capital ("AlphaStream") for the sale
of a 30.1% interest in Alpha 3 SPV Ltd ("Alpha 3") for
US$5,267,500. Following the Agreement, Altus and AlphaStream will
each own 50% of Alpha 3 which is incorporated in the United Arab
Emirates ("UAE") and owns a portfolio of 23 mining royalties in
Australia acquired from Newcrest Mining Ltd ("Newcrest") (see
Altus' announcement dated 13 December 2021). The proceeds will be
re-invested by Altus in the expansion of its global portfolio of 33
royalties, both through accretive acquisitions and discovery-led
royalty generation.
Highlights:
-- Altus to receive US$5.3 million from the sale of a 30.1% interest in Alpha 3 to AlphaStream
-- Alpha 3 now owned 50:50 in a strategic partnership between Altus and AlphaStream
-- Alpha 3 owns a portfolio of 23 mining royalties in Australia acquired from Newcrest
-- Altus holds a total of 33 royalty interests globally,
including royalties on 4 producing mines
-- Proceeds to be re-invested in royalty acquisition opportunities and generating new royalties
Steven Poulton, Chief Executive of Altus, commented:
"By moving to 50% ownership of Alpha 3, we have generated US$5.3
million in cash and strengthened our strategic partnership with
AlphaStream, a specialist UAE based royalty and streaming company.
The proceeds from this deal will be applied to potential further
accretive royalty acquisitions, as well as our 'boots on the
ground' and high-impact royalty generation strategy in Mali, Egypt
and other countries in Africa. I look forward to updating
shareholders on these activities in due course."
Related Party Transaction
The transaction with AlphaStream is a related party transaction
pursuant to Rule 13 of the AIM Rules for Companies. Accordingly,
the Altus directors (all being independent of AlphaStream)
consider, having consulted with the Company's nominated adviser, SP
Angel Corporate Finance LLP, that the terms of the related party
transaction are fair and reasonable insofar as the shareholders of
the Company are concerned.
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-mail: info@altus-strategies.com
SP Angel Corporate Finance LLP (Nominated
Adviser) Tel: +44 (0) 20 3470 0470
Richard Morrison / Adam Cowl
SP Angel Corporate Finance LLP (Broker)
Grant Barker Tel: +44 (0) 20 3470 0471
Rob Rees Tel: +44 (0) 20 3470 0535
Shard Capital Partners LLP (Broker)
Isabella Pierre / Damon Heath Tel: +44 (0) 20 7186 9927
Yellow Jersey PR (Financial PR & IR) Tel: +44 (0) 20 3004 9512
Charles Goodwin / Henry Wilkinson E-mail: altus@yellowjerseypr.com
About Altus Strategies Plc
Altus Strategies (AIM: ALS, TSX-V: ALTS & OTCQX: ALTUF) is
an income generating mining royalty company, with a diversified
portfolio of production, pre-production and discovery stage assets.
The Company's differentiated approach of generating royalties on
its own discoveries in Africa and acquiring royalties globally
through financings and acquisitions with third parties has
attracted key institutional investor backing. Altus has established
a global portfolio comprising 33 royalty interests and 27 project
interests across nine countries and nine metals. 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
This announcement contains inside information for the purposes
of Article 7 of the Market Abuse Regulation (EU) 596/2014 as it
forms part of UK domestic law by virtue of the European Union
(Withdrawal) Act 2018 ("MAR"), and is disclosed in accordance with
the Company's obligations under Article 17 of MAR.
**END**
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