Altius Minerals closes Lithium Royalty acquisition

Executive Summary

• Altius Minerals Corp. and Lithium Royalty Corp. have successfully completed their previously announced plan of arrangement under the Canada Business Corporations Act.
• The transaction received 99.8% shareholder approval from Lithium Royalty on Feb. 26, 2026, and a final court order on March 3, 2026.
• Former Lithium Royalty shareholders received 9,630,177 Altius common shares and $140,039,989.40 in cash as consideration, bringing Altius's total outstanding shares to 55,915,754.
• Lithium Royalty shares will be delisted from the TSX, and the company will apply to cease being a reporting issuer under Canadian securities laws.
• Waratah Capital Group acquired a 14.0% stake in Altius (7,805,234 shares) through the transaction, while former LRC CEO Ernie Ortiz joins Altius's management team.

Key Details

• Transaction Structure: Plan of arrangement under the Canada Business Corporations Act.
• Shareholder Approval: 99.8% of votes cast in favor at Lithium Royalty special meeting on Feb. 26, 2026.
• Regulatory/Court Approval: Final order received from Ontario Superior Court of Justice (Commercial List) on March 3, 2026.
• Consideration to LRC Shareholders: 9,630,177 common shares of Altius + cash of $140,039,989.40.
• Post-Transaction Capitalization: Altius now has 55,915,754 common shares issued and outstanding.
• LRC Listing Status: Common shares delisted from Toronto Stock Exchange; applying to Ontario Securities Commission to cease being a reporting issuer.
• Waratah Capital Group Stake: Acquired 7,805,234 common shares of Altius via the arrangement, representing ~14.0% of outstanding shares (previously held 0%).
• Tax Elections: Altius intends to make joint tax elections with eligible former LRC shareholders who received consideration shares, subject to applicable law.
• Management Changes: Ernie Ortiz, former President and CEO of Lithium Royalty, has agreed to join Altius's management team.

Notable Quotes

• Brian Dalton, CEO, Altius Minerals Corp.: "The closing of this transaction represents an important milestone in Altius's history of growing and diversifying a portfolio of royalties relating to long-life, high-growth potential natural resource projects. We commend the LRC team for their success in building the business and welcome the shareholders that are now joining with us to support the exciting combined future ahead. We are also very pleased that Ernie Ortiz has agreed to join our management team as we continue to seek ways to add value and strength to Altius."
• Ernie Ortiz, President & CEO, Lithium Royalty Corp.: "We would like to thank our shareholders for our continued support of Lithium Royalty Corp. Since 2018, we curated a portfolio of 38 diversified, high-grade, low-cost royalties in the lithium sector. The portfolio is strongly situated to benefit from rising lithium prices during this cycle and to uncover additional levels of optionality in the decades ahead as the growth trajectory of the sector remains robust. The completion of this transaction marks an important milestone for LRC and marks an exciting new chapter of growth for the lithium segment of Altius Minerals."