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St. John�s � Altius Minerals Corporation (�Altius�) announces that it will purchase at market price up to 2,415,496 common shares being approximately 10% of its public float of 24,154,968 as of November 25, 2008, by way of a normal course issuer bid through the facilities of the Toronto Stock Exchange (TSX). As of November 25, 2008 there are 30,960,725 common shares issued and outstanding. The bid is subject to regulatory approval. The bid will commence December 1, 2008 and end no later than November 30, 2009. Any shares purchased during the normal course issuer bid will be cancelled and returned to treasury. The TSX rules permit Altius to purchase daily, through TSX facilities, a maximum of approximately 44,518 common shares under the Company�s repurchase program.
During the previous 12 months, Altius purchased 2,675,730 shares at a weighted average price of $5.93 through a normal course issuer bid, of which 2,623,030 shares are in the process of being cancelled and returned to treasury. This will result in there being 28,337,695 common shares outstanding following the cancellation.
The reason for the bid is that, in the opinion of the board of directors, the value of Altius, based on anticipated cash flows and underlying asset values, is greater than the present aggregate market price of the common shares and accordingly, the acquisition of common shares under the bid represents an appropriate use of funds.
For further information regarding this news release please contact Chad Wells.
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Tel: (709) 576-3440 Toll Free: 1-877-576-2209 Fax: (709) 576-3441 Email: info@altiusminerals.com |
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Altius Minerals Corporation
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PRODUCER |
CODE : ALS.TO |
ISIN : CA0209361009 |
CUSIP : 020936 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Altius Min. is based in Canada. Altius Min. produces iron, coal, cobalt, copper and nickel in Canada, and holds various exploration projects in Canada. Its main asset in production is VOISEY'S BAY in Canada and its main exploration properties are NUIKLAVIK, ALEXIS RIVER, LABRADOR PROJECT, BOXEY POINT, NOTAKWANON, TOPSAILS, KAMISTAITUSSET, TAYLOR BROOK, SOUTH TALLY POND, ROCKY BROOK and VIKING in Canada. Altius Min. is listed in Canada and in United States of America. Its market capitalisation is CA$ 930.5 millions as of today (US$ 675.9 millions, € 634.2 millions). Its stock quote reached its lowest recent point on March 28, 2003 at CA$ 1.39, and its highest recent level on April 18, 2024 at CA$ 21.47. Altius Min. has 43 340 000 shares outstanding. |