London Stock Exchange

Altus Strategies has announced that shares of the company will commence trading on the TSX Venture Exchange at market open on 6 June 2018, under the symbol ALTS.

The shares will continue to trade on the AIM market (AIM) of the London Stock Exchange.

“We are delighted to have secured the dual listing of the company’s shares on the TSXV,” comments chairman of Altus Strategies, David Netherway.

“This follows our successful plan of arrangement with Legend Gold for its strategic gold assets in Mali and recent C$4.1 million capital raise, which was largely placed with North American based investors.

“The board and team at Altus Strategies collectively have a strong track record of making and monetising economic mineral discoveries across Africa.

“Altus Strategies currently has 19 exploration projects, diversified across six African countries (Morocco, Mali, Ivory Coast, Ethiopia, Cameroon and Liberia) and several commodities, including gold, copper, silver, bauxite, iron ore and zinc.

“We also have two active joint venture partnerships, with ASX-listed Resolute Mining on our Pitangoma Est gold project in southern Mali and with ASX-listed Canyon Resources on our Birsok bauxite project in central Cameroon.

“Our TSXV listing marks another significant milestone in the company’s growth.

“We believe that Altus Strategies now creates a rare opportunity for North American based investors to participate in a well-established and purely Africa-focused project generator.”

Recent non-brokered private placement

No new securities of Altus Strategies are being distributed concurrently with the listing of the shares on the TSXV.

On 18 April, 2018 the company completed a non-brokered private placement of 27,391,616 units of the company at a price of C$0.15 per share for gross proceeds of C$4,108,742.40.

Each unit is comprised of one share and one share purchase warrant of Altus exercisable to purchase one share for five years from the closing of the offering at an exercise price of C$0.30.

The company paid finders’ fees on a portion of the offering, consisting of a cash fee of up to 6% of the gross proceeds received from the sale of the units sold to investors introduced by the finders and that number of non-transferable share purchase warrants equal to 5% of the number of Units sold to investors introduced by the finders, each finder warrant entitling the finder to purchase one share for three years from the closing date at C$0.225.

Lock-in arrangements

A total of 43,852,669 shares held by Netherway, Steven Poulton and Matthew Grainger and their associates are subject to a lock-in agreement dated 31 May 2018 between the company and the TSXV locked-in shareholders.

As at the listing date, 25% of the principal shares are released from the lock-in and the remaining 75% of the principal shares are to be released in 15% increments every six months commencing on 10 August 2018.

The TSXV locked-in shareholders are also subject to lock-in and orderly market arrangements in respect of the company’s listing on AIM.

Specifically none of the shares held by the TSXV locked-in shareholders can be sold until the first anniversary of the listing of the company’s shares on AIM, which occurred on 10 August 2017.

Thereafter and until the second anniversary of admission, no principal shares which may be released from the lock-in can be sold by the TSXV locked-in shareholders without the prior written consent of SP Angel Corporate Finance LLP, being the company’s nominated advisor and broker on AIM.