Altius Renewable Royalties Corp. Announces Partial Exercise of Over-Allotment Option
ST. JOHN’S, Newfoundland and Labrador--(BUSINESS WIRE)--Dec 15, 2022--
Altius Renewable Royalties Corp. (TSX: ARR) (OTCQX: ATRWF) (“ ARR ”, the “ Corporation ”, or the “ Company ”) announced today that the underwriters of its recently closed bought deal public offering (the “ Offering ”) of common shares of the Company (the “ Shares ”) have partially exercised the over-allotment option (the “ Over-Allotment Option ”) granted to the syndicate of underwriters led by TD Securities Inc. and Cormark Securities Inc., including National Bank Financial Inc., Peters & Co. Limited, Raymond James Ltd., Scotiabank, CIBC Capital Markets and Laurentian Bank Securities Inc. for the issuance of an additional 368,800 Shares at a price of $9.00 per Share, for aggregate gross proceeds of C$3,319,200.
The Company intends to use the net proceeds from the partial exercise of the Over-Allotment Option for general corporate purposes.
ARR is a renewable energy royalty company whose business is to provide long-term, royalty level investment capital to renewable power developers, operators, and originators. ARR has 32 renewable energy royalties representing 735 MW of renewable power on operating projects and an additional approximately 6 GW on projects in development phase, across several regional power pools in the U.S. The Corporation also expects future royalties from Great Bay’s investments in Bluestar Energy Capital and Hodson Energy. The Corporation combines industry expertise with innovative, partner-focused solutions to further the growth of the renewable energy sector as it fulfills its critical role in enabling the global energy transition.
This news release contains forward-looking information as defined under Canadian securities laws which reflect management’s current expectations. Some of the specific forward-looking statements contained herein include, but are not limited to, the intended use of proceeds. The statements are based on reasonable assumptions and expectations of management and ARR provides no assurance that actual events will meet management’s expectations. In certain cases, forward-looking information may be identified by such terms as “anticipates”, “believes”, “could”, “estimates”, “expects”, “may”, “shall”, “will”, or “would”. Although ARR believes 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. Such forward-looking statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Such risks and uncertainties include, but are not limited to, the factors discussed under “Risk Factors” in the Prospectus Supplement. Readers should not place undue reliance on forward-looking information. ARR does not undertake to update any forward-looking information contained herein except in accordance with securities regulation. A number of factors could cause actual results to differ, possibly materially, from the results discussed in the forward-looking statements. Additional information about risks and uncertainties is contained in the filings of ARR under the Company’s profile at www.sedar.com.
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CONTACT: For further information, please contact:
Direct: +1.416.346.9020Ben Lewis
KEYWORD: NORTH AMERICA CANADA
INDUSTRY KEYWORD: ALTERNATIVE ENERGY ENERGY OTHER ENERGY
SOURCE: Altius Renewable Royalties Corp.
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PUB: 12/15/2022 09:22 AM/DISC: 12/15/2022 09:22 AM