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February 19, 2020

Altus Strategies shareholders give green light to La Mancha investment

Altus Strategies shareholders have approved all resolutions to effect the proposed strategic investment from mining investment firm La Mancha Holdings in the company and a five to one consolidation of the company’s share capital.

By Matthew Hall

Altus Strategies shareholders have approved all resolutions to effect the proposed strategic investment from mining investment firm La Mancha Holdings in the company and a five to one consolidation of the company’s share capital.

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The mining project generator will issue more than 124 million new shares at a price of C$0.09 per share for a consideration of approximately C$11.2m ($8.4m USD) on 21 February 2020. On completion of the deal, La Mancha will own around 35.4% of the share capital of Altus Strategies and will have the ability to appoint two representatives to the company’s board of directors.

The company will also consolidate shares by way of one consolidated ordinary share for every five existing ordinary share. This is expected to be effective after the close of trading on 21 February.

The investment in Altus Strategies is La Mancha’s first external investment into the listed mineral exploration sector. Equity research analyst at SP Angel Sergey Raevskiy told Mining Technology this may set a trend for more capital being committed to early-stage exploration.

Altus Strategies CEO Steven Poulton said: “We are delighted that our shareholders have overwhelmingly approved the strategic investment by La Mancha, a pre-eminent Africa-focused mining investment group with a notable track record in deal selection and value creation.

“The directors believe that this transaction will be transformative for Altus, providing the capital and expertise to fast track our project and royalty generation activities, as well as unlocking new external growth opportunities.

“The directors are of the view that the deal also represents a strong industry endorsement of the Altus team, portfolio and business model.”

Altus Strategies’ share price jumped by as much as 8% on the London Stock Exchange following the announcement.

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Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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