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Altima Resources Ltd. (OTC: ARSLF) is a Canadian company with a focus on advancing its technological partnership with St-Georges Eco Mining to finalize an independent preliminary engineering study. This study aims to accelerate upgrades to Altima's operation, allowing it to compete with traditional hydrogen producers at a lower cost with zero greenhouse gas emissions. The company has also closed the acquisition of light sweet crude oil production in central Alberta, showcasing growth potential through additional production work in the Roxana Field. Altima's strategic acquisitions mark a significant step towards its goal of becoming a 1000 bbl/day producer.
Altima Resources (TSXV: ARH) announced its name change to Altima Energy Inc., effective December 6, 2024. The company's common shares will continue trading under the symbol 'ARH' on the TSX Venture Exchange. The CUSIP and ISIN numbers will update to 02157V108 and CA02157V1085 respectively. Shareholders are not required to take any action, and existing share certificates remain valid without the need for exchange.
Altima Resources (TSXV: ARH) (OTC Pink: ARSLF) has announced the closing of a Purchase and Sale Agreement with Uriel Gas Holdings Corp., acquiring substantial assets in Alberta, Canada for $450,000 in cash. The acquisition, effective August 1, 2024, includes:
- Approximately 10,560.5 gross acres across three high oil access areas in Alberta
- Key infrastructure including an Oil Battery in Central Alberta and interest in a natural gas plant in Northwest Alberta
- 127 MBOE of Total Proved Developed Producing Reserves and 531 MBOE of Total Proved Reserves
- NPV of $1,360,000 (PDP Before Tax 10% DCF PV) and $9,938,000 (TP Before Tax 10% DCF PV)
The acquisition is expected to significantly increase Altima's operational capabilities and resource base, positioning the company as a key player in Alberta's energy sector.
Altima Resources (TSXV: ARH) (OTC Pink: ARSLF) held its annual general meetings for the financial years 2022, 2023, and 2024 on August 26, 2024. Shareholders approved all matters, including:
- Re-election of directors Joe DeVries, Richard Barnett, Stephen Watts, and Jurgen Wolf
- Reappointment of Davidson & Company LLP as auditor
- Ratification of the 10% Rolling Stock Option Plan
- Approval of previously granted stock options from December 8, 2023
- Approval of the new Omnibus Equity Compensation Plan
Additionally, Altima announced the revocation of its Management Cease Trade Order on August 6, 2024, following the filing of its audited financials for the year ended February 28, 2024.
Altima Resources (TSXV: ARH) has announced a delay in filing its audited annual financial statements, management's discussion & analysis, related certifications, and NI 51-101 Disclosure for Oil & Gas Activities for the fiscal year ended February 29, 2024. The delay is due to a recent acquisition impacting the timing of the audit work. The company remains under a management cease trade order but expects to complete the filings by July 26, 2024.
Altima confirms it will continue to issue bi-weekly default status reports as required by National Policy 12-203. The company is not subject to insolvency proceedings and states there is no other material undisclosed information about its affairs.
Altima Resources announced a delay in filing its audited annual financial statements and related documents for the fiscal year ended February 29, 2024, due to an acquisition. The company requested a management cease trade order under National Policy 12-203 to allow trading by individuals other than insiders and employees. Altima expects to complete the filings by July 26, 2024, and will issue bi-weekly updates. The company is not facing insolvency and disclosed no new material information.
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