Altius (OTC: ATUSF) to acquire Lithium Royalty Corp. for C$520 million

Altius Minerals Corporation (OTC: ATUSF) announced it will acquire all shares of Lithium Royalty Corp. (LIRC) for approximately C$520 million, or C$9.50 per share, through a plan of arrangement.

The consideration consists of approximately C$173 million in cash and C$347 million in Altius shares. LRC shareholders can elect to receive C$9.50 in cash or 0.240 Altius shares per LRC share, subject to proration ensuring cash represents no more than one-third of total consideration and share consideration does not exceed 11.5 million Altius shares.

The acquisition adds 37 lithium royalties to Altius’s portfolio, including four producing-stage royalties and 12 advanced-stage projects with completed economic studies. The company expects the acquired royalties to contribute C$40-60 million in annual revenue by the decade’s end at current spot prices.

LRC CEO Ernie Ortiz is expected to join Altius’s corporate development team following the transaction’s completion. The acquisition includes assets primarily located in Canada, Australia and South America.

The transaction requires approval from at least two-thirds of LRC shareholders at a special meeting scheduled for no later than March 10, 2026. Voting agreements covering approximately 84.7% of outstanding LRC shares have been secured from Royalty Capital limited partnerships and Riverstone VI LRC B.V., along with agreements from LRC directors and officers holding less than 3% of shares.