Altius Renewable Royalties Enters into Arrangement Agreement with Northampton
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Altius Renewable Royalties
Altius Renewable Royalties Corp. (TSX:ARR) (OTCQX:ATRWF) (“ARR” or the “Company”) is pleased to announce that the Company and Royal Aggregator LP (the “Purchaser”) (an affiliate of Northampton Capital Partners, LLC (“NCPL” and together with its controlled affiliates, “Northampton”)) have entered into a definitive arrangement agreement (the “Arrangement Agreement”), whereby the Purchaser will acquire all of the issued and outstanding common shares of the Company (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.
The Arrangement Agreement
Under the terms of the Arrangement Agreement, each ARR shareholder (other than Altius Minerals) (the “ARR Minority Shareholders”) will receive cash consideration of C$12.00 for each ARR Share held (the “Consideration”). The Consideration represents a 28% premium to the closing price of the ARR Shares on the Toronto Stock Exchange (the “TSX”) on September 4, 2024 (being the date before the announced unusual trading activity took place in the Company’s shares) and a 29% premium to the 20-day volume weighted average price (“VWAP”) of the ARR Shares on the TSX on September 4, 2024.
Following completion of the Transaction, the Purchaser will hold 43% of the issued and outstanding and Altius Minerals will indirectly hold 57% of the issued and outstanding ARR shares.