Alpha 1 SPV Limited Announces Option Agreement to Sell its Interest in Elemental Altus Royalties Corp.
Terms of the Option Agreement
The Alpha 1 Share Option will not become exercisable prior to October 29, 2025 without the consent of Elemental.
Pursuant to the Option Agreement, Optionee paid an option fee to Alpha 1 in an aggregate amount of CAD$3,444,458, representing a price per Alpha 1 Share of CAD$0.10. If Optionee exercises the Alpha 1 Share Option, depending on when the Alpha 1 Share Option is exercised, the Optionee will pay a variable exercise price (the " Exercise Price") with a minimum aggregate Exercise Price of CAD$51,839,092.90 and a maximum aggregate Exercise Price of CAD$53,389,099 (representing a minimum price per Alpha 1 Share of CAD$1.505 and a maximum price per Alpha 1 Share of CAD$1.550).
The Option Agreement includes certain restrictions on the ability of Alpha 1 to sell the Alpha 1 Shares, and in certain circumstances requires Alpha 1 to vote, or refrain from voting, and to tender, or refrain from tendering, the Alpha 1 Shares in accordance with instructions from the Optionee.
This announcement is made pursuant to the "early warning" requirements of Canadian securities legislation. A copy of Alpha 1's related early warning report will be filed with the applicable securities commissions and will be made available on SEDAR+ at www.sedarplus.ca. Further information and a copy of the early warning report of Alpha 1 maybe obtained by contacting:
The head office of Elemental is Suite 1020 – 800 West Pender Vancouver, British Columbia V6C 2V6, Canada.
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