Altius Minerals Corp. (TSX: ALS) has announced that as part of the Plan of Arrangement between International Royalty Corporation (“IRC”) and Royal Gold Inc., Altius will receive C$37.5 million in cash and 529,251 Royal Gold exchangeable shares for its 8,924,972 shares in IRC.
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The gross proceeds to Altius are expected to be around C$61.8 million based on the February 22nd closing share price of Royal Gold at C$45.92. Upon receipt of that cash and share consideration, Altius will recognize a gain of about C$27 million.
Altius is focused on the mining and resources sector through prospect generation and the creation and acquisition of royalties and investments. The Corporation has a strong financial position with approximately $132 million in cash and liquid investment and no debt.
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