Altius Renewable Royalties Announces New Operating Royalty Investment and CDN$35 million Bought Deal Financing - Seite 2

“Longroad is excited to once again work with Great Bay by using its innovative royalty financing as part of our capital structure”, said Pete Keel, Longroad’s CFO. “Great Bay’s flexible, partner-like investment approach is a great fit with our business and we look forward to working with its team again in the future as we continue to grow our operational portfolio.”

Brian Dalton, CEO of ARR, commented, “Our Great Bay joint venture continues to steadily build upon its first mover advantage in bringing royalty financing to the renewable energy natural resource sector and to grow and diversify its portfolio of cash-flowing royalties. The new power region and use case attributes of the Titan royalty financing further support our outlook regarding the growing size of our potential addressable market as we continue to work to rapidly scale up the business. Today’s concurrent bought-deal equity financing announcement further supports this ambition with additional deployment-focused cash liquidity.”

CDN$35 Million Bought Deal Financing

The Company is also pleased to announce that it has entered into an agreement with a syndicate of underwriters led by TD Securities Inc. and Cormark Securities Inc. (the “Lead Underwriters” and collectively the “Underwriters”) pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 3,900,000 common shares of the Company (the “Shares”) at a price of CDN$9.00 per Share (the “Issue Price”) for aggregate gross proceeds of approximately CDN$35 million (the “Offering”).

The Company has granted the Underwriters an over-allotment option (the “Over-Allotment Option”) to purchase up to an additional 585,000 Shares at the Issue Price, exercisable in whole or in part at any time up to 30 days after the closing of the Offering.

Altius Minerals Corporation (“Altius”) is participating in the Offering and has committed to purchase approximately CDN$21 million in Shares at the Issue Price to allow Altius to maintain its approximate 59% ownership of the Company at closing of the Offering.

The Company intends to use the net proceeds from the Offering to fund its 50% of the acquisition price for Great Bay’s Titan royalty investment and for general corporate purposes.

The Offering is expected to close on or about December 8, 2022 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange (the “TSX”).