Exchange Bulletin
Altius Renewable Royalties Corp. (ARR) To Trade On Toronto Stock Exchange
February 17, 2021
| Issuer: | Altius Renewable Royalties Corp. (the "Company") |
| Security: | Common shares (the "Common Shares") |
| Symbol(s): | ARR |
| Transaction: | An application has been conditionally approved by Toronto Stock Exchange ("TSX") for the listing of Common Shares of the Company, subject to completion of a proposed initial public offering (the "Offering") of these securities as described in the Company's amended and restated preliminary base PREP prospectus dated February 4, 2021, amending and restating the preliminary base PREP prospectus dated January 18, 2021. It is anticipated that, in the next few days, the Company will file a final base PREP prospectus and a supplemented PREP prospectus for its Offering of Common Shares. As soon as possible after the final base PREP prospectus is cleared by the relevant securities regulatory authorities and that a supplemented PREP prospectus is filed, TSX will post the Common Shares for trading on an "if, as and when issued" basis under the trading information set out below. Before Common Shares are posted for trading on such basis, TSX will issue a trader note confirming both the pricing and the expected closing date for the Offering. If and when the Offering closes, the Common Shares will be listed on TSX. |
| Trading currencies: | CDN$ |
| Temporary market maker: | National Bank Financial Inc. |
| Other markets: | None |
| Settlement: | Subject to the closing of the Offering: (i) all trades in "ARR" on and before the third trading day preceding the closing date will be for special settlement on the closing date and will appear on the Settlement Report from CDS Clearing and Depository Services Inc. ("CDS"); and (ii) all trades in "ARR" for each of the two trading days preceding the closing date will be for special settlement two business days after the trade date and will appear on the Settlement Report from CDS. If the Offering does not close, all of the "if, as and when issued" trades will be cancelled. No securities will be delivered and no money will be owed by purchasers to sellers. Parties who are entitled to receive Common Shares under the Offering may sell such securities in the "if, as and when issued" market without being subject to restrictions on short sales. Parties who are not entitled to receive Common Shares under the Offering must comply with the short sale rule in all respects for any sales they make in the "ARR" "if, as and when issued" market. If and when the Offering closes, there will be no further trading in "ARR" on an "if, as and when issued" basis and the Common Shares issued at such closing will trade on a regular settlement basis. |
| Listing category: | TSX Sandbox, Industrial, Non-Exempt Issuer |
| TSX Sandbox exit conditions: | The Company will exit TSX Sandbox upon the later of (i) deployment of 50% of the Offering proceeds and (ii) 12 months from its TSX original listing date. At the time of exit, the Company will demonstrate (i) no significant compliance issue for a 12-month period and (ii) compliance with the provisions of Part VII of the TSX Company Manual. |
| Security ownership registration: | Uncertificated Issue - Non-Certificated Inventory |
| Investor relations: | Flora Wood (416) 346-9020 flora@altiusminerals.com |
| Incorporation: | Business Corporations Act (Alberta) |
| Fiscal year end: | December 31 |
| Nature of business: | The Company is a renewable energy royalty company whose business is to invest in renewable power developers, originators and projects. |
| Transfer agent and registrar: | TSX Trust Company at its principal office in Toronto |
| Dividends: | Any determination to implement a dividend policy, if and when appropriate, will be made having regard to, among other things, results of operations; financial condition; expected future levels of earnings; future operating cash flow; liquidity requirements; market opportunities; income taxes; debt repayments; legal, regulatory and contractual constraints; working capital requirements; tax laws, the approval of the Board and compliance with applicable law and TSX rules. |
| Sponsorship: | Waived |
| Disclosure document: | Amended and restated preliminary base PREP prospectus dated February 4, 2021, amending and restating the preliminary base PREP prospectus dated January 18, 2021, which is available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the disclosure document. |
| Initial public offering: | The Offering of Common Shares is expected to be comprised of a treasury offering by the Company of between 9,090,909 and 10,526,316 Common Shares, at an Offering price between C$9.50 and C$11.00 per Common Share for gross proceeds of approximately C$100 million to the Company (assuming the over-allotment option is not exercised). The syndicate of underwriters is comprised of TD Securities Inc., Scotia Capital Inc., Raymond James Ltd., Cormark Securities Inc., Canaccord Genuity Corp., Laurentian Bank Securities Inc., National Bank Financial Inc. and Haywood Securities Inc. (collectively, the "Underwriters"). In addition, the Company is expected to grant the Underwriters an over-allotment option pursuant to which the Underwriters may purchase up to an additional 15% of the number of Common Shares offered under the Offering. |
| TSX contact: | Chris Birkett, Managing Director, Toronto Stock Exchange |
