Canyon AGM Approves Issue of 10 Million Canyon Shares to Altus

Rhea-AI Summary

Altus Strategies Plc reports that the shareholders of Canyon Resources Ltd have approved issuing 10 million shares to Altus following a Joint Venture Termination Agreement. This decision was made during Canyon's Annual General Meeting on November 30, 2020. Altus now holds approximately 16.1 million Canyon shares, equating to a 2.6% interest, with shares trading at around A$0.11 each. The issued shares will be subject to a 12-month escrow period.

Positive

• Approval of 10 million Canyon Shares enhances Altus's stake to approx. 16.1 million shares.
• Canyon Shares currently trade at approximately A$0.11, indicating potential future value.

Negative

• None.

DIDCOT, UK / ACCESSWIRE / December 1, 2020 / Altus Strategies Plc (AIM:ALS)(TSX-V:ALTS)(OTCQX:ALTUF) announces that the shareholders of ASX-listed Canyon Resources Ltd ("Canyon") have, at Canyon's Annual General Meeting held on 30 November 2020, approved the issuance of 10 million fully paid ordinary shares ("Canyon Shares") to Altus pursuant to the JV Termination Agreement ("Agreement") previously announced by the Company on 11 February 2019. Canyon Shares issued pursuant to the Agreement are subject to a 12-month voluntary escrow agreement from the date of issue. Altus currently holds 16,100,000 Canyon Shares, representing an approximate 2.6% interest in Canyon on an undiluted basis. Canyon Shares currently trade at approximately A$0.11 per share.

For further information you are invited to visit the Company's website www.altus-strategies.com or contact:

Altus Strategies Plc Steven Poulton, Chief Executive	Tel:+44 (0) 1235 511 767 E: info@altus-strategies.com
SP Angel (Nominated Adviser) Richard Morrison / Adam Cowl	Tel: +44 (0) 20 3470 0470
SP Angel (Broker) Abigail Wayne / Richard Parlons	Tel: +44 (0) 20 3470 0471
Yellow Jersey PR (Financial PR & IR) Georgia Colkin / Charles Goodwin / Henry Wilkinson	Tel: +44 (0) 20 3004 9512 E: altus@yellowjerseypr.com

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.

**END**

SOURCE: Altus Strategies Plc

View source version on accesswire.com:
https://www.accesswire.com/618947/Canyon-AGM-Approves-Issue-of-10-Million-Canyon-Shares-to-Altus

FAQ

What decision was made during Canyon Resources Ltd's AGM on November 30, 2020?

The shareholders approved the issuance of 10 million shares to Altus Strategies Plc.

How much ownership does Altus Strategies Plc now have in Canyon Resources Ltd?

Altus now holds approximately 16.1 million Canyon Shares, representing a 2.6% interest.

What is the current trading price of Canyon Shares?

Canyon Shares are currently trading at around A$0.11 per share.

What is the condition of the newly issued Canyon Shares to Altus?

The issued Canyon Shares are subject to a 12-month voluntary escrow agreement.