Acquisition of Common Shares of CANEX Metals Inc. by Altius Resources Inc.
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
October 15, 2020 | News Release
Acquisition of Common Shares of CANEX Metals Inc. by
Altius Resources Inc.
St. John’s, Newfoundland, October 15, 2020 – Altius Resources Inc. (“Altius”), a subsidiary of Altius
Minerals Corporation (TSX:ALS) (OTCQX: ATUSF) announced today that it has acquired ownership of
2,000,000 common shares (“Common Shares”) of CANEX Metals Inc. (TSXV: CANX) (“CANEX”), with its
head office at Suite 815, 808 - 4th Avenue SW, Calgary, Alberta, T2P 3E8. The Common Shares were
acquired by Altius pursuant to an exercise of previously acquired common share purchase warrants of
CANEX held by Altius at an exercise price of $0.10 per Common Share for an aggregate purchase price
of $200,000 (the “Transaction”). The Common Shares acquired by Altius pursuant to the Transaction
represent 3.6% of the issued and outstanding common shares of CANEX. Immediately before the
Transaction, Altius owned 4,805,000 common shares of CANEX representing 9.03% of the issued and
outstanding common shares of CANEX and 2,500,000 warrants of CANEX exercisable into 2,500,000
common shares of CANEX. Following the Transaction, Altius now owns 6,805,000 Common Shares
representing 12.26% of the issued and outstanding common shares of CANEX and 500,000 common
share purchase warrants, If Altius exercises all of the remaining warrants of CANEX held by it, Altius
would hold an aggregate of 7,305,000 common shares of CANEX representing approximately 13.04% of
the issued and outstanding common shares post-exercise.
Altius exercised the warrants and acquired the Common Shares for investment purposes only, and
depending on market and other conditions Altius may from time to time in the future increase or decrease
its ownership, control or direction over securities of CANEX, through market transactions, private
agreements, or otherwise.
The head office of Altius is located at 38 Duffy Place, 2nd Floor, St John's, NL A1B 4M5. For further
information regarding this share acquisition by Altius please contact Chad Wells, Vice-President,
Business Development, Altius Minerals Corporation, Tel. 1-877-576-2206.
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 steel making and increasing
agricultural yield requirements. These 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. Altius has 41,464,462 common 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.
For further information, please contact:
Chad Wells
Email: [email protected]
Tel: 1.877.576.2209
Flora Wood
Email: [email protected]
Tel: 1.877.576.2209 or direct 416-346-9020
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation