(TSX: ALS; OTCQX: ATUSF) Altius Minerals Corporation (“Altius” or the “Corporation”) announced that it has received regulatory approval for the adoption and implementation of a new dividend reinvestment plan ("DRIP") that allows shareholders to automatically reinvest their dividends in new shares of the Corporation. The first dividend payment for which the DRIP applies is the dividend declared by the Board on May 11, 2020, with record date of May 29, 2020 and payment date of June 15, 2020. The DRIP will remain in place for all dividends going forward.
The DRIP will allow shareholders the option to increase their share position in the Corporation at a discount to the prevailing market price and without incurring any transaction costs, by electing to receive common shares in place of cash dividends.
Enrollment in the DRIP is optional. Further information on the plan, including the enrollment form, is available on the Company’s website at www.altiusminerals.com. In order to be eligible to participate in respect of the June 15, 2020 dividend, completed enrollment forms must be received by 4:00 pm ET May 22, 2020, being five business days prior to the record date. Registered shareholders wishing to participate must complete the enrollment form and deliver it to the transfer agent as specified on the website, with delivery by email being allowed. Non-registered holders who hold shares through a brokerage can give instructions to the brokerage enabling them to enroll. Enrollment forms received after May 22, 2020 will be accepted in respect of the next and future dividends declared by the Corporation.
The Company has the discretion to elect to issue such common shares at up to a 5% discount to the prevailing market price from treasury, or purchase the common shares on the open market including the facilities of the Toronto Stock Exchange.
Altius’s strategy is to create per share growth through a diversified portfolio of royalty assets that relate to long life, high margin operations. This strategy further provides shareholders with exposures that are well aligned with sustainability-related global growth trends including the electricity generation transition from fossil fuel to renewables, transportation electrification, reduced emissions from steelmaking and increasing agricultural yield requirements. These each hold the potential to cause increased demand for many of Altius’s commodity exposures including copper, renewable based electricity, several key battery metals (lithium, nickel and cobalt), clean iron ore, and potash. Altius has 41,643,496 common 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.