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”.
- 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