Altius Commits To $21 million Investment in ARR
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
December 1, 2022 | St. John’s, Newfoundland
Altius Commits To $21 million Investment in ARR
Altius Minerals Corporation (TSX: ALS; OTCQX: ATUSF) (“Altius” or the “Corporation”) is pleased to
announce that it has committed to purchase 2,298,700 common shares in the Altius Renewable Royalties
Corp. (“ARR”) financing announced today.
ARR also announced that its 50% held Great Bay Renewables II (“Great Bay”) joint venture has completed
a US$46 million royalty investment in support of Longroad Energy’s (“Longroad”) acquisition of the 70
MWac Titan Solar project in California.
With this participation Altius will maintain its 59% ownership in ARR. The financing, and Altius’s
participation, is subject to customary closing conditions and associated regulatory filings, and is expected
to close on or about December 8, 2022. For more information on this financing, see ARR’s news release
here.
John Baker, Executive Chairman of Altius commented “In a short timeframe, ARR’s Great Bay joint venture
has deployed almost US$300 million into the rapidly expanding US renewable energy sector. The joint
venture recently reached the milestone of becoming cash flow positive and has created a strong embedded
revenue growth profile. The pace of adoption of its royalty financing model continues to exceed our
expectations as evidenced both by its current portfolio now consisting of 32 projects representing over 6500
MW of wind and solar generation and also the top-tier nature of its royalty counter-parties. We are pleased
to take this opportunity to allocate further capital towards ARR as it continues to successfully execute its
growth strategies.”
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 47,616,297 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 .
About ARR
ARR is a renewable energy royalty company whose business is to provide long-term, royalty-level
investment capital to renewable power developers, operators, and originators. ARR currently has 32
renewable energy royalties representing 735 MW of renewable power on operating projects and an
additional approximately 6 GW on projects in the development phase, across several regional power pools
in the U.S. The Corporation also expects future royalties from Great Bay’s investments in Bluestar Energy
Capital and Hodson Energy. The Corporation combines industry expertise with innovative, partner-focused
solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the
global energy transition.
TSX: ALS | OTCQX: ATUSF Altius Minerals Corporation
Forward-looking information
This news release contains forward ‐looking information. The statements are based on reasonable
assumptions and expectations of management and Altius provides no assurance that actual events will
meet management's expectations. In certain cases, forward ‐looking information may be identified by such
terms as "anticipates", "believes", "could", "estimates", "expects", "may", "shall", "will", or "would". Although
Altius believes the expectations expressed in such forward ‐looking statements are based on reasonable
assumptions, such statements are not guarantees of future performance and actual results or
developments may differ materially from those projected. Readers should not place undue reliance on
forward-looking information. Altius does not undertake to update any forward-looking information contained
herein except in accordance with securities regulation.
For further information, please contact:
Flora Wood
VP, Investor Relations & Sustainability
Email: [email protected]
Tel: 1.877.576.2209
Direct: 1.416.346.9020
Ben Lewis
Chief Financial Officer
Email: [email protected]
Tel: 1.877.576.2209