September 07, 2016 09:07 ET
Net Debt Reduced to $44.4 Million
ST. JOHN'S, NEWFOUNDLAND AND LABRADOR--(Marketwired - Sept. 7, 2016) - Altius Minerals Corporation ("Altius" or the "Corporation") (TSX:ALS) will release its first quarter financial results on Monday, September 12, 2016 after market close, ahead of its Annual and Special Meeting at 11 am on September 13th at the Johnson Geocentre in St. John's, NL. It will also hold a conference call to discuss the Q1F2017 financial results as detailed below.
Also, the Corporation is pleased to report that it has recently made scheduled and non-scheduled repayments of $16.3 million under its term and revolving debt facilities. The repayments were funded from the receipt of proceeds of $9.5 million from the sale of certain holdings within its portfolio of public junior exploration equities and from excess operating cash flow.
Following the repayments, the Corporation's current net debt position has been reduced to $44.4 million. This consists of total remaining debt of $87.5 million less cash on hand of $13.3 million and remaining public equity holdings of $29.8 million. The company has $60.5 million in additional liquidity available under its revolving facility.
Fiscal 2017 First Quarter Financials Call Information:
The call will be webcast and archived on the Company's website for a limited time.
Altius' diversified royalties and streams generate revenue from 14 operating mines located in Canada and Brazil that produce 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. It also holds a large portfolio of exploration stage projects which it has generated for deal making with industry partners and which will result in third party funding, equity and minority interests and newly created royalty interests.
Altius has 43,425,624 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.
Altius Minerals CorporationChad Wells or Ben Lewis1.firstname.lastname@example.org
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