ST. JOHN'S, May 5, 2015 /CNW/ - Altius Minerals Corporation ("Altius") (TSX:ALS) announced today that it has acquired control over 3,500,000 common shares of Avrupa Minerals Ltd. ("Avrupa") (TSXV:AVU), representing 7.86% (on a non-diluted basis) of the outstanding common shares of Avrupa, and 3,500,000 common share purchase warrants of Avrupa, each entitling the holder to acquire one common share of Avrupa, upon due exercise thereof at any time prior to October 15, 2016 (the "Avrupa Warrants" and, together with the acquired common shares of Avrupa, the "Avrupa Securities"). If all of the Avrupa Warrants are exercised, Alitus will exercise control over 7,000,000 common shares of Avrupa, representing 15.71% of the outstanding common shares of Avrupa (on a non- diluted basis).
The Avrupa Securities are owned by Callinan Resources Corporation, a wholly-owned subsidiary of Altius which was acquired by Altius on May 5, 2015, pursuant to a court-approved plan of arrangement under the Canada Business Corporations Act. The Avrupa Securities over which Altius exercises control will be held for investment purposes and may be sold, or additional securities of Avrupa may be acquired, in the future as Altius considers appropriate in light of investment criteria, market conditions and other factors and in accordance with the provisions of applicable securities legislation.
Altius is a diversified mining royalty company with royalty interests in 13 producing mines located in Canada. The royalty interests include mining operations that produce thermal (electrical) and metallurgical coal, potash, nickel, copper and cobalt.
Altius holds other significant pre-development stage royalties and its project generation pipeline contains a diversified portfolio of exploration stage projects and royalties, many of which are being advanced through various partner-funding arrangements.
SOURCE Altius Minerals Corporation
For further information: Chad Wells at 1.877.576.2209.