ST. JOHN’S, Newfoundland and Labrado--(BUSINESS WIRE)--

Altius Minerals Corporation (“Altius”) today announces the closing of the previously announced transaction to acquire an additional ownership interest in Potash Royalty Limited Partnership (“Potash Royalties”) from Liberty Metals & Mining Holdings, LLC for total cash consideration of C$65 million. Following the closing, Altius’ net interest in Potash Royalties grew from 52.4% to 91.3%.

Potash Royalties holds royalty interests in six producing potash mines located in Saskatchewan, Canada including Nutrien’s Rocanville, Vanscoy, Allan, Cory and Patience Lake mines and The Mosaic Company’s Esterhazy mine.

Altius elected to pay for the acquisition using its revolving credit facility on a temporary basis as it evaluates longer term financing options that are appropriate to the long underlying lives of the acquired royalties. While this remains outstanding, the total debt owing under its term and revolving facility is C$128 million. Altius also holds C$60 million in cash and approximately C$130 million in publicly traded equities.

With the added revenue from the Potash Royalties, Altius is now raising its 2018 royalty revenue guidance to a new range of C$64 – $69 million, taking into account three quarters of revenue from the larger Potash Royalties position.

About Altius

Altius directly and indirectly holds diversified royalties and streams that generate revenue from 15 operating mines. These are located in Canada and Brazil and produce copper, zinc, nickel, cobalt, iron ore, 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. In addition, Altius’s Project Generation business holds a large portfolio of exploration stage projects which it has generated for deal making with industry partners that results in newly created royalties and equity and minority interests.

Altius has 43,215,026 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.

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