Altius Renewable Royalties Reports Q3 2024 Financial Results Via Investing.com
ST. JOHN’S, Newfoundland–(BUSINESS WIRE)–Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (ARR or the Corporation) today reports its financial results for the third quarter of 2024. Additional information can be found in the Corporation’s continuous disclosure materials at arr.energy or through the SEDAR+ website at www.sedarplus.ca
On September 12, ARR announced that the Corporation and Royal Aggregator LP (the Purchaser) (an affiliate of Northampton). Capital Partners (WA:), LLC) entered into a direct plan agreement (Plan Agreement), whereby the Purchaser will acquire all of the issued and outstanding common shares of the Corporation (ARR Shares), except for those ARR Shares indirectly owned by Altius. Minerals Corporation (Altius Minerals), by way of formal arrangement under s Business Companies Law (Alberta) What is being done (JO:)). Altius Minerals currently holds 58% of ARR’s issued and outstanding shares on a non-consolidated basis.
Under the terms of the Plan Agreement, each ARR shareholder (other than Altius Minerals) will receive cash consideration of CAD$12.00 for each ARR share held (the Consideration) for a consideration of approximately C$162,000,000.
The Plan is conditional, among other things, on obtaining an interim injunction from the Court of the Crown of Alberta (the Court) and obtaining approval under the Competition Act. On October 2, 2024, the Commissioner of Competition under the Competition Act granted the Corporation a certificate of enhanced judgment in respect of the Scheme satisfying the condition of approval of the Competition Act and on October 17, 2024, the Court issued an interim injunction regarding the Scheme satisfying that condition. A hearing on the application for a final order is expected to take place before a judge of the Court on November 22, 2024. Subject to obtaining the necessary approval of the shareholders at the Special Meeting on November 19 and receipt of the final order of the Court, the transaction is expected to close in late November, 2024. After the completion of the Payment, ARR will remove listed on the TSX and ceases to be a reporting issuer. The buyer will hold 43% and Altius Minerals will indirectly hold 57% of the issued and outstanding shares of ARR respectively.
About ARR
ARR is a renewable energy royalty company whose business is to provide long-term, royalty-free investment capital to renewable energy developers, operators, and innovators. ARR has 35 renewable energy assets representing approximately 2.9 GW of renewable energy in operational projects and an additional approximately 5.3 GW in projects in the construction and development phase, across all US power plants The organization also expects future benefits from the investment of GBR to Bluestar Energy. Capital, Hodson Energy and Hexagon Energy, increasing the total project pipeline to approximately 18.7 GW. The Corporation combines industry expertise with innovative, partner-focused solutions to drive the growth of the renewable energy sector as it plays its key role in enabling the global energy revolution.
Forward-looking information
This news release contains forward-looking information. The statements are based on management’s reasonable assumptions and expectations and ARR gives no assurance that actual events will meet management’s expectations. In some cases, forward-looking information may be identified by words such as “expects”, “believes”, “may”, “estimates”, “expects”, “may”, “will”, “will”, or “could”. Although ARR believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those projected. Readers should not place undue reliance on forward-looking information. ARR undertakes no obligation to update any forward-looking information contained herein other than in accordance with securities law.
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Flora Wood
Email: Flora@arr.energy
Phone: +1.877.576.2209
Direct: +1.416.346.9020
Ben Lewis (YES:)
Email: Ben@arr.energy
Phone: +1.877.576.2209
Source: Altius Renewable Royalties Corp.
