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Altius Minerals enters into C$35M bought-deal financing

Altius MineralsCorp. said April 13 that it has entered into an agreement with a syndicateof underwriters under which they will purchase, on a bought-deal basis, 3,112,000of the company's common shares at C$11.25 each for gross proceeds of C$35 million.

The underwriters have the option, exercisable within 30 daysfollowing the closing of the offering, to purchase up to an additional 466,800 sharesto cover overallotments, if any. If the option is exercised in its entirety, aggregategross proceeds will be around C$40 million.

The offering is expected to close around May 3.

Net proceeds will partially fund the previously announced copperpurchase agreement concerning YamanaGold Inc.'s Chapadacopper-gold mine in Brazil, under which Altius will pay Yamana total advanced paymentsof US$60 million in cash and 400,000 Altius warrants.

Altius has paid US$8 million as an initial payment and the balanceof US$52 million is due around May 3.