COPPER: Altius closes $40M bought deal financing

ST. JOHN’S, NL – Altius Minerals Corp. has closed a $40 million bought deal financing. The company issued approximately 3.58 million common shares at a price of $11.25 per share. An over-allotment of 466,800 common shares was exercised by the underwriters. Altius said it will use the net proceeds of the base offering to fund the announced copper purchase agreement with a subsidiary of Yamana Gold. The metal will be supplied by Yamana’s Chapada copper-gold mine in Goias state,  Brazil. Altius agreed to pay $60 million plus 400,000 common share purchase warrants exercisable at $14 per share. The price per pound is set at 30% of the spot copper price. Altius will receive 3.7% of the copper production, and that amount will drop to 1.5% after 75 million lb are delivered. The Chapada mine began production in 2007 and is targeted to produced 122 million to 125 million lb of copper in 2016. Additional information about the mine is available at www.Yamana.com/English/portfolio/producing-mines/chapada/.