ST. JOHN’S and VANCOUVER – Altius Minerals Corp. and Callinan Royalties Corp. have announced plans to merge, creating a diversified mining royalty company. Callinan is to become a wholly owned subsidiary of Altius.
Altius is offering to acquire all outstanding Callinan common shares for 0.163 of an Altius share plus $0.203. That values each Callinan share at $2.27, a 28% premium to Callinan’s closing price on March 4, 2015.
The combined company will enjoy royalty income from the operations of numerous large companies, including PotashCorp, Agrium, Teck Resources, Hudbay Minerals, Vale, Mosaic, Westmoreland, Atco, Capital Power and TransAlta. The streams cover thermal and metallurgical coal, potash, copper, zinc, nickel, gold, silver and cobalt.
Learn more about the proposed transaction at either AltiusMinerals.com or Callinan.com.