ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ARTWF) (“ARR” or the “Company”) announced today the completion of the previously announced statutory plan of arrangement (the “Arrangement”) pursuant to which Royal Aggregator LP, an affiliate of Northampton Capital Partners LLC (“Northampton”), acquired all of the issued and outstanding common shares of ARR (each a “Common Share”), except for 17,937,339 Common Shares (representing approximately 57% of the outstanding Common Shares following closing of the Arrangement) owned directly or indirectly by Altius Minerals Corporation, for a price of C$12.00 in cash per Common Share (the “Arrangement Consideration”).
Shareholders who hold their Common Shares in registered form will receive payment of the Arrangement Consideration following the deposit of their duly completed letter of transmittal, their Common Share certificates(s), if applicable, and other relevant documents with TSX Trust Company, the depositary for the Arrangement, in accordance with the instructions contained in the letter of transmittal previously distributed to registered shareholders. Additional copies of the letter of transmittal may be obtained from the depositary at its office located at Suite 301, 100 Adelaide Street West, Toronto, Ontario M5H 4H1 and are also available on SEDAR+ (www.sedarplus.ca) under the Company’s issuer profile. Any questions regarding payment of the Arrangement Consideration to registered holders of Common Shares, should be directed to the depositary at 1-866-600-5869 (toll-free within North America) or 416-342-1091 (outside of North America) or by e-mail at tsxtis@tmx.com. Non-registered shareholders should contact their intermediaries, such as brokers, investment dealers, banks, trust companies, clearing agencies or other nominees, for instructions and assistance on how to receive the Arrangement Consideration for their Common Shares.
As a result of the completion of the Arrangement, the Common Shares are expected to be delisted from the Toronto Stock Exchange within three business days of closing and no longer quoted on the OTCQX shortly thereafter. The Company intends to submit an application to the applicable securities regulators to cease to be a reporting issuer under applicable Canadian securities laws.
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 has 35 renewable energy royalties representing approximately 2.9 GW of renewable power on operating projects and an additional approximate 5.3 GW on projects in construction and development phase, across several regional power pools in the U.S. ARR also expects future royalties from Great Bay’s investments in Bluestar Energy Capital, Hodson Energy and Hexagon Energy, which increase the total project pipeline to approximately 18.6 GW. ARR 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.
About Northampton
Northampton is an alternative asset management firm focused on infrastructure investments in the middle market, targeting the energy, digital, and other critical infrastructure sectors. Northampton was founded by Geoffrey Strong, John MacWilliams, Scott McBride, Don McCarthy, and other team members, with offices in New York City and Miami.
Forward Looking Information
This news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) within the meaning of applicable securities laws. This information includes, but is not limited to, statements concerning the expected timing for the Company’s delisting from the TSX and OTCQX and the Company’s intention to apply to cease to be a reporting issuer. In some cases, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “estimates”, “outlook”, “forecasts”, “projection”, “prospects”, “intends”, “anticipates”, “believes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “might”, “will”, “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, intentions, projections or other characterizations of future events or circumstances contain forward-looking information. Forward-looking information in this news release includes, among other things, statements relating to the transaction and timing for completion of the transaction. Forward-looking information is necessarily based on a number of opinions, estimates and assumptions that the Company considered appropriate and reasonable as of the date such statements are made in light of its experience, current conditions and expected future developments, including assumptions: that any conditions precedent to the closing of the transaction can be satisfied, and that there will be no undue delays with respect to the transaction.
Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to management of the Company or that it presently believes are not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. No forward-looking statement is a guarantee of future results. Accordingly, shareholders should not place undue reliance on forward-looking information, which speaks only as of the date made. The forward-looking information contained in this news release represents the Company’s expectations as of the date of this news release (or as the date they are otherwise stated to be made) and is subject to change after such date. However, the Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws in Canada. All of the forward-looking information contained in this news release is expressly qualified by the foregoing cautionary statements.
