Altius Reports Early Warning Press Release in Respect of Disposition of Common Shares of Churchill Resources Inc.

Rhea-AI Summary

Altius Minerals announced on June 24, 2024, that it sold 10,000,000 common shares of Churchill Resources at $0.05 per share, generating $500,000 in gross proceeds. This transaction reduced Altius’s stake in Churchill from 12.6% to 5.5%, thereby lowering its holdings by approximately 7.1% and causing Altius to fall below the 10% reporting threshold under applicable securities laws. Altius disposed of these shares in the ordinary course of business and may adjust its holdings based on market conditions. An early warning report has been filed on SEDAR+.

Positive

• Generated $500,000 in gross proceeds from the sale of Churchill Resources shares.

Negative

• Decrease in Altius's holdings of Churchill Resources from 12.6% to 5.5%.

All references in thousands of Canadian dollars, except per share amounts, unless otherwise indicated

ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)-- Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius” or the “Corporation”) announces today that on June 24, 2024, it disposed of 10,000,000 common shares of Churchill Resources Inc. (TSXV:CRI) (“Churchill”) at a price of $0.05 per Common Share for gross proceeds of $500,000 through the facilities of the TSX Venture Exchange through a block sale (the “Transaction”).

The Common Shares disposed of by Altius pursuant to the Transaction represent a decrease in Altius’s holdings of Common Shares of approximately 7.1%. Immediately prior to the Transaction, Altius held 17,838,815 Common Shares representing approximately 12.6% of the issued and outstanding Common Shares. Upon completion of the Transaction, Altius owns 7,838,815 Common Shares representing approximately 5.5% of the issued and outstanding Common Shares. Accordingly, Altius is no longer a “reporting insider” of Churchill, as such term is defined under applicable securities laws, as Altius has fallen below the 10% reporting threshold.

Altius disposed of the Common Shares in the ordinary course of business and for investment purposes only, and depending on market and other conditions Altius may from time to time increase or decrease its holdings of Common Shares.

An early warning report in respect of the disposition of the Common Shares by Altius has been filed under Churchill’s issuer profile on SEDAR+ at www.sedarplus.ca. The head office of Altius is located at 38 Duffy Place, 2^nd Floor, St John's, NL A1B 4M5. For further information regarding the Transaction or to obtain a copy of the early warning report, please contact Chad Wells, Altius Minerals Corporation, Tel. 1.877.576.2209.

About Altius

Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These macro-trends each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. In addition, Altius runs a successful Project Generation business that originates mineral projects for sale to developers in exchange for equity positions and royalties. Altius has 46,467,476 common shares issued and outstanding that are listed on Canada’s Toronto Stock Exchange. It is included in each of the S&P/TSX Small Cap, the S&P/TSX Global Mining, and the S&P/TSX Canadian Dividend Aristocrats indices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240626521073/en/

Flora Wood

Email: Fwood@altiusminerals.com

Tel: 1.877.576.2209

Direct: +1(416)346.9020

Ben Lewis

Email: Blewis@altiusminerals.com

Tel: 1.877.576.2209

Source: Altius Minerals Corporation

FAQ

What was the transaction date for Altius Minerals' sale of Churchill Resources shares?

Altius Minerals conducted the transaction on June 24, 2024.

How many shares did Altius Minerals sell in Churchill Resources?

Altius Minerals sold 10,000,000 common shares of Churchill Resources.

What was the sale price per share for Altius Minerals' shares in Churchill Resources?

The sale price was $0.05 per share.

How much did Altius Minerals earn from selling shares of Churchill Resources (ATUSF)?

Altius Minerals earned $500,000 in gross proceeds.

What percentage of Churchill Resources did Altius Minerals hold before and after the transaction?

Before the transaction, Altius held 12.6% of Churchill Resources, and after the transaction, it holds 5.5%.

Why is Altius Minerals no longer a reporting insider of Churchill Resources?

Altius Minerals fell below the 10% reporting threshold after the transaction, thus no longer qualifying as a reporting insider.