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Altius Renewable Royalties Reports Q3 2024 Financial Results

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Altius Renewable Royalties (TSX: ARR, OTCQX: ATRWF) announced a definitive arrangement agreement with Royal Aggregator LP, an affiliate of Northampton Capital Partners, to acquire all outstanding shares not owned by Altius Minerals for CAD$12.00 per share, totaling approximately C$162 million. The transaction received Competition Act approval on October 2, 2024, and an interim court order on October 17. Subject to shareholder approval at the Special Meeting on November 19 and final court order on November 22, the deal is expected to close by November end. Post-transaction, the Purchaser will hold 43% and Altius Minerals will retain 57% of ARR shares, with ARR delisting from TSX.

Altius Renewable Royalties (TSX: ARR, OTCQX: ATRWF) ha annunciato un accordo definitivo con Royal Aggregator LP, un'affiliata di Northampton Capital Partners, per acquisire tutte le azioni in circolazione non possedute da Altius Minerals per 12,00 CAD per azione, per un totale di circa 162 milioni di CAD. La transazione ha ricevuto l'approvazione della Legge sulla Concorrenza il 2 ottobre 2024 e un'ordinanza temporanea del tribunale il 17 ottobre. Soggetta all'approvazione degli azionisti durante l'Assemblea Straordinaria del 19 novembre e a un'ordinanza finale del tribunale il 22 novembre, l'accordo dovrebbe chiudersi entro la fine di novembre. Dopo la transazione, l'Acquirente deterrà il 43% e Altius Minerals manterrà il 57% delle azioni di ARR, con ARR che sarà delistato dalla TSX.

Altius Renewable Royalties (TSX: ARR, OTCQX: ATRWF) anunció un acuerdo de disposición definitivo con Royal Aggregator LP, una afiliada de Northampton Capital Partners, para adquirir todas las acciones en circulación no poseídas por Altius Minerals por 12.00 CAD por acción, totalizando aproximadamente 162 millones de CAD. La transacción recibió la aprobación de la Ley de Competencia el 2 de octubre de 2024, y una orden judicial provisional el 17 de octubre. Sujeta a la aprobación de los accionistas en la Junta Especial el 19 de noviembre y una orden judicial final el 22 de noviembre, se espera que el trato se cierre a finales de noviembre. Después de la transacción, el Comprador poseerá el 43% y Altius Minerals retendrá el 57% de las acciones de ARR, con ARR deslistándose de la TSX.

알티우스 재생 가능 로열티 (TSX: ARR, OTCQX: ATRWF)는 알티우스 미네랄스가 소유하지 않은 모든 발행 주식을 주당 12.00 CAD에 인수하기 위해 노샘프턴 캐피탈 파트너스의 계열사인 로얄 애그리게이터 LP와 최종 협약을 발표했습니다. 총액은 약 1억 6200만 CAD에 달합니다. 이 거래는 2024년 10월 2일 공정거래법 승인을 받았고, 10월 17일에는 임시 법원 명령을 받았습니다. 11월 19일 특별주주총회에서 주주 승인과 11월 22일 최종 법원 명령에 따라 이 거래는 11월 말까지 마무리 될 것으로 예상됩니다. 거래 후, 구매자는 ARR 주식의 43%를 보유하고 알티우스 미네랄스는 57%를 유지하며, ARR은 TSX에서 상장 폐지됩니다.

Altius Renewable Royalties (TSX: ARR, OTCQX: ATRWF) a annoncé un accord définitif avec Royal Aggregator LP, une filiale de Northampton Capital Partners, pour acquérir toutes les actions en circulation non détenues par Altius Minerals au prix de 12,00 CAD par action, pour un total d'environ 162 millions de CAD. La transaction a reçu l'approbation de la Loi sur la concurrence le 2 octobre 2024 et un ordre judiciaire intérimaire le 17 octobre. Sous réserve de l'approbation des actionnaires lors de l'Assemblée générale extraordinaire le 19 novembre et d'un ordre judiciaire final le 22 novembre, l'accord devrait être finalisé d'ici la fin novembre. Après la transaction, l'acheteur détiendra 43 % et Altius Minerals conservera 57 % des actions d'ARR, avec l'ARR étant radié de la TSX.

Altius Renewable Royalties (TSX: ARR, OTCQX: ATRWF) gab eine endgültige Vereinbarung mit Royal Aggregator LP bekannt, einem Unternehmen von Northampton Capital Partners, um alle ausstehenden Aktien zu erwerben, die nicht im Besitz von Altius Minerals sind, zu einem Preis von 12,00 CAD pro Aktie, was insgesamt etwa 162 Millionen CAD ausmacht. Die Transaktion erhielt am 2. Oktober 2024 die Genehmigung nach dem Wettbewerbsrecht und am 17. Oktober eine vorläufige Gerichtsanordnung. Vorbehaltlich der Genehmigung der Aktionäre auf der außerordentlichen Hauptversammlung am 19. November und einer endgültigen Gerichtsanordnung am 22. November wird erwartet, dass der Deal bis Ende November abgeschlossen wird. Nach der Transaktion wird der Käufer 43% und Altius Minerals 57% der ARR-Aktien halten, wobei ARR von der TSX delistet wird.

Positive
  • Shareholders will receive CAD$12.00 per share in cash consideration
  • Transaction received Competition Act approval
  • Court granted interim order for the arrangement
Negative
  • Company will delist from TSX and cease to be a reporting issuer
  • Minority shareholders will be forced to sell their positions

ST. JOHN’S, Newfoundland--(BUSINESS WIRE)-- Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (“ARR” or the “Corporation”) is today reporting its financial results for the third quarter of 2024. More detail can be found in the Corporation's continuous disclosure materials at arr.energy or through the SEDAR+ website at www.sedarplus.ca

On September 12 ARR announced that the Corporation and Royal Aggregator LP (the “Purchaser”) (an affiliate of Northampton Capital Partners, LLC) entered into a definitive arrangement agreement (the “Arrangement Agreement”), whereby the Purchaser will acquire all of the issued and outstanding common shares of the Corporation (the “ARR Shares”), other than those ARR Shares indirectly owned by Altius Minerals Corporation (“Altius Minerals”), by way of a statutory plan of arrangement under the Business Corporations Act (Alberta) (the “Transaction”). Altius Minerals currently holds 58% of the issued and outstanding ARR Shares on an undiluted basis.

Under the terms of the Arrangement Agreement, each ARR shareholder (other than Altius Minerals) will receive cash consideration of CAD$12.00 for each ARR Share held (the “Consideration”) for total Consideration of approximately C$162,000,000.

The Arrangement is conditional upon, among other things, receipt of an interim order from the Court of King’s Bench of Alberta (the “Court”) and receipt of approval under the Competition Act. On October 2, 2024, the Commissioner of Competition under the Competition Act issued an advanced ruling certificate to the Corporation in respect of the Arrangement which satisfied the Competition Act approval condition and on October 17, 2024, the Court granted the interim order with respect to the Arrangement satisfying such condition. The hearing of the application for the final order is anticipated to take place before a justice of the Court on November 22, 2024. Subject to obtaining the required approval of Shareholders at a Special Meeting on November 19 and the receipt of the final order of the Court, the transaction is expected to close on or around the end of November, 2024. Following completion of the Transaction, ARR will delist from the TSX and cease to be a reporting issuer. The Purchaser will hold 43% and Altius Minerals will indirectly hold 57% of the issued and outstanding ARR shares respectively.

About ARR

ARR is a renewable energy royalty company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. ARR has 35 renewable energy royalties representing approximately 2.9 GW of renewable power on operating projects and an additional approximate 5.3 GW on projects in construction and development phase, across several regional power pools in the U.S. The Corporation also expects future royalties from GBR's investments in Bluestar Energy Capital, Hodson Energy and Hexagon Energy, which increase the total project pipeline to approximately 18.7 GW. The Corporation combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.

Forward-looking information

This news release contains forward‐looking information. The statements are based on reasonable assumptions and expectations of management and ARR provides no assurance that actual events will meet management's expectations. In certain cases, forward‐looking information may be identified by such terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although ARR believes the expectations expressed in such forward‐looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. ARR does not undertake to update any forward-looking information contained herein except in accordance with securities regulation.

Flora Wood

Email: Flora@arr.energy

Tel: +1.877.576.2209

Direct: +1.416.346.9020

Ben Lewis

Email: Ben@arr.energy

Tel: +1.877.576.2209

Source: Altius Renewable Royalties Corp.

FAQ

What is the purchase price per share for Altius Renewable Royalties (ATRWF) in the acquisition?

The purchase price is CAD$12.00 per share in cash consideration.

When is the expected closing date for Altius Renewable Royalties (ATRWF) acquisition?

The transaction is expected to close around the end of November 2024, subject to shareholder approval and final court order.

What will be the ownership structure of ATRWF after the transaction?

After the transaction, Royal Aggregator LP will hold 43% and Altius Minerals will indirectly hold 57% of ARR shares.

Will Altius Renewable Royalties (ATRWF) remain listed on the TSX after the transaction?

No, ARR will delist from the TSX and cease to be a reporting issuer after the transaction closes.

ALTIUS RENEWABLE ROYALTIS

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