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Altius Renews Normal Course Issuer Bid and Continues Automatic Repurchase Plan

Mar 28 2013 12:00AM

Marketwire

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ST. JOHN'S, NEWFOUNDLAND AND LABRADOR -- (Marketwire) -- 03/28/13 -- Altius Minerals Corporation ("Altius") (TSX: ALS) announces that it will purchase at market price up to 1,406,207 common shares ("Shares"), being approximately 5% of its outstanding Shares of 28,124,153 as of March 19, 2013, by way of a normal course issuer bid ("NCIB") through the facilities of the Toronto Stock Exchange ("TSX"). The bid is subject to regulatory approval. The NCIB will commence April 2, 2013 and will end no later than April 1, 2014. Any Shares purchased during the NCIB will be cancelled and returned to treasury. In connection with the NCIB Altius has also entered into an automatic share purchase plan agreement (the "Plan") with a broker to facilitate purchases of its Shares under the NCIB. Altius has filed with the TSX a Notice to provide for the implementation of the Plan.

The TSX rules permit Altius to purchase daily, through TSX facilities, a maximum of 7,036 Shares under Altius' NCIB. During the previous 12 months, Altius purchased a total of 683,628 Shares through a NCIB at a volume weighted average price of $10.76 per Share. The reason for the NCIB is that, in the opinion of the board of directors, the value of Altius, based on anticipated cash flows and underlying asset values, is from time to time, greater than the then aggregate market price of the Shares and accordingly, the acquisition of Shares under the NCIB represents an appropriate use of funds.

The Plan permits Altius' broker to repurchase Shares under the NCIB at any time, including during internal blackout periods and/or when Altius is in possession of undisclosed material information, subject to certain price limitations and other parameters prescribed by the TSX, applicable Canadian securities laws and the terms of the Plan. Altius may also instruct the broker to make specific purchases of Shares, and may suspend or terminate the Plan, provided that in each instance, Altius certifies to the broker that it is not in possession of any undisclosed material information about itself or its securities.

The Plan constitutes an "automatic plan" for purposes of applicable Canadian securities laws and has been pre-cleared by the TSX.

About Altius

Altius is focused on the mining and resources sector through prospect generation and the creation and acquisition of royalties and investments. Altius has a strong financial position with total assets of approximately $281 million, including $155 million in cash and marketable securities. It has also built a portfolio of directly and indirectly held junior resource investments, including 32.9 million shares of Alderon Iron Ore Corp. (TSX: ADV).

Altius owns a 3% gross sales royalty on the Kami iron ore project of Alderon, an effective 0.3% net smelter return royalty on the producing Voisey's Bay nickel-copper-cobalt mine, a 2% gross sales royalty on uranium in the Central Mineral Belt project of Paladin Energy Limited, and several earlier stage resource project royalties. Its growing project generation pipeline consists of a diversified portfolio of exploration projects, many of which have attracted joint venture funding partners.

Altius is a member of the S&P/TSX Global Mining Index and currently has 28,124,153 shares outstanding.



Contacts:
Altius Minerals Corporation
Chad Wells
Toll Free: 1-877-576-2209
709-576-3441 (FAX)
info@altiusminerals.com
www.altiusminerals.com





Source: Marketwire