Altus closes second tranche of nonbrokered private placement
Africa-focused project and royalty generator Altus Strategies has closed the second and final tranche of its nonbrokered private placement.
The second tranche comprised 14-million new ordinary shares from a total offering of 46.3-million ordinary shares at an issue price of C$0.09, or £0.052, apiece.
“We are delighted to close the second tranche of the placement. Since we announced the placement, Altus has called a general meeting of its shareholders on February 18 to approve the strategic investment in Altus by La Mancha of C$11.2-million, or £6.5-million, at C$0.09 per share,” says Altus CE Steve Poulton.
“Taking the placement and the La Mancha investment together, Altus is positioned for a transformative 2020. We are looking forward to accelerating our project and royalty generation activities, as well as securing further value accretive opportunities,” he adds.
The second tranche of ordinary shares were issued to Delphi of Heidelberg Germany and amounted to C$1.2-million or about £728 000.
Altus understands that Delphi now owns 35-million ordinary shares, representing about 15.47% of the issued share capital of the company.
The placement is conditional on the admission of the new ordinary shares to trading on the Aim market of the LSE.
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