|St. John’s – Altius Minerals Corporation (“Altius”) is pleased to announce that it has renewed its Normal Course Issuer Bid (“NCIB”) and it may purchase at market price up to 2,038,535 common shares (“Shares”), being approximately 4.7% of its outstanding Shares of 43,208,291 as of August 11, 2017, by way of a normal course issuer bid (“NCIB”) through the facilities of the Toronto Stock Exchange (“TSX”). The NCIB will commence August 22, 2017 and will end no later than August 21, 2018. Any Shares purchased during the NCIB will be cancelled and returned to treasury.
The TSX rules permit Altius to purchase daily, through TSX facilities, a maximum of 11,827 Shares under the NCIB. During the previous 12 months, Altius purchased a total of 243,689 Shares through a prior NCIB at a weighted average price of $10.47 per Share. 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 then aggregate market price of the Shares and accordingly the acquisition of Shares under the NCIB represents an appropriate use of funds.
Altius directly and indirectly holds diversified royalties and streams that generate revenue from 15 operating mines. These are located in Canada and Brazil and produce copper, zinc, nickel, cobalt, iron ore, potash and thermal (electrical) and metallurgical coal. The portfolio also includes numerous pre-development stage royalties covering a wide spectrum of mineral commodities and jurisdictions. In addition, Altius holds a large portfolio of exploration stage projects which it has generated for deal making with industry partners that results in newly created royalties and equity and minority interests.
Altius has 43,208,291 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.
For further information, please contact Flora Wood or Chad Wells at 1.877.576.2209