Endeavour Mining
http://www.all-flags-world.com

Altus Strategies has announced that it has signed a definitive Purchase & Sales agreement and Net Smelter Return royalty agreements with Stellar Africa Gold in respect of Altus’ Prikro and Zenoula gold projects in Côte d’Ivoire.

Steven Poulton, CE of Altus, comments:

“We are pleased to conclude this royalty and equity transaction with Stellar on our two prospective gold projects in Ivory Coast.

“Altus is focused on realising value from a high quality, diversified and precious metal focused portfolio of royalty assets.

“This transaction further underscores our royalty generation strategy and we look forward to Stellar’s exploration progress on the Projects”.

Highlights:

  • Altus selling a 100% interest in two Ivory Coast gold projects
  • Altus to receive an initial payment of:
  • o  A 2.5% NSR royalty on the Projects
  • o  2,500,000 Stellar shares with a current market value of C$125,000
  • o  2,500,000 share purchase warrants, each exercisable to purchase a Stellar share for 24 months at C$0.07
  • Subject to the progress of the Projects, Altus will receive further equity based payments
  • The Transaction remains subject to TSX-V approval