ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Nov. 9, 2016) - Altius Resources Inc. ("Altius Resources"), a subsidiary of Altius Minerals Corporation (TSX:ALS), announced today that on November 8, 2016 it acquired ownership of 4,500,000 common shares ("Common Shares") of Northwest Arm Capital Inc. ("Northwest Arm") as consideration for the grant by Altius Resources of an option to earn a 100% interest (subject to underlying royalty interests) in certain claims located near Wilding Lake in the Central Newfoundland area of Newfoundland and Labrador.
As of November 8, 2016, Altius Resources owns 4,500,000 Common Shares or approximately 19.95% of the Common Shares issued and outstanding.
Altius Resources may from time to time increase or decrease its holdings of Common Shares depending on market and other conditions.
Further details may be obtained from the Early Warning Report filed on SEDAR by Altius Resources under Northwest's profile.
Altius diversified royalties and streams generate revenue from 14 operating mines located throughout Canada and, more recently, Brazil, from copper, zinc, nickel, cobalt, precious metals, potash and thermal (electrical) and metallurgical coal. The portfolio also includes numerous pre-development stage royalties covering a wide spectrum of mineral commodities and jurisdictions. Altius also has a broad portfolio of precious and base metals exploration projects in North America, Europe and South America and is dedicated to attracting partners to these projects for the purpose of advancing them towards discovery and development, consistent with its proven project generation business model.
Altius has 43,373,854 shares issued and outstanding that are listed on Canada's Toronto Stock Exchange. It is a member of both the S&P/TSX Small Cap and S&P/TSX Global Mining Indices.