Nickel Investing News » Altius to Receive Proceeds Worth $61.8 Million(approx)

Altius to Receive Proceeds Worth $61.8 Million(approx)

February 24, 2010 @ 2:09 pm In Nickel Company News

Altius Minerals Corporation (TSX:ALS) reported that as part of the recently completed Plan of Arrangement between International Royalty Corporation and Royal Gold Inc.,Altius will receive CAD $37.5 million in cash and 529,251 Royal Gold exchangeable shares for its 8,924,972 shares of IRC.

The press release is quoted as saying:

The expected gross proceeds to Altius are approximately CAD $61.8 million based on yesterday's closing Royal Gold share price of CAD $45.92. Upon receipt of the cash and share consideration as outlined above, Altius will recognize a gain of approximately CAD $27 million, which is a 78% return on its original investment.

Click here to access the entire press release ^[1]

Click here to access Altius Minerals Corporate Site ^[2]

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URLs in this post:

[1] Click here to access the entire press release: http://www.marketwire.com/press-release/Altius-to-Receive-Proceeds-Worth-Approximately-618-Million-TSX-ALS-1120691.htm

[2] Click here to access Altius Minerals Corporate Site: http://www.altiusminerals.com/s/Home.asp