Altius Closes Sale of Rambler Project.ST. JOHN'S, Newfoundland And Labrador Newfoundland and Labrador, province, Canada Newfoundland and Labrador (ny  `fənlənd, ny -- Altius Minerals Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002)TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ALS Als (äls), Ger. Alsen, island, 121 sq mi (313 sq km), Sønderjylland co., S Denmark, in the Lille Bælt, separated from the mainland by the narrow Alensund. ) is pleased to announce that it has closed the sale of its interest in the Rambler ram·bler n. 1. One that rambles: tourists and Sunday ramblers on the village streets; a conversational rambler. 2. A type of climbing rose having numerous red, pink, or white flowers. copper-gold project to Rambler Mines Limited ("Rambler Mines"), the terms of which were announced in its news release of February 23, 2005. In connection with the closing, the purchaser was granted an option to purchase 100,000 Altius common shares at $3.90, expiring November 1, 2005, in order that the purchaser may make at that time, at its election, the final share payment due by Altius under its option from the underlying property owner. The purchaser is a newly formed company that will be seeking the admission of its share capital to the AIM Market of the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. ("AIM") under the name Rambler Metals & Mining PLC, in conjunction with a fundraising to raise up to 8 million pounds sterling (approximately C$18.5 million). The agreement has been structured such that Altius will own approximately one third of the issued shares of Rambler PLC following the company's admission to AIM and the fundraising. The fundraising will proceed forthwith. The founders of Rambler PLC include Harry Dobson and Brian Hinchcliffe, who are also founders and principals of Kirkland Lake Gold Inc. (TSX:KGI KGI Keck Graduate Institute KGI Key Goal Indicator KGI Kitchen Gardeners International KGI Key Geographic Ideas KGI Küchengeräte International (Miele subdivision) KGI Kernel Graphic Interface ). The initial exploration program, to be field managed by Altius, will be a 28,000 metre drilling campaign, using two drills. The program is expected to commence immediately after successful completion of Rambler's admission to AIM. Altius Minerals Corporation (http://www.altiusminerals.com/) has a royalty interest royalty interest The proportional ownership interest by the owner of oil and gas rights in income produced by the asset. See also overriding royalty interest. in the Voisey's Bay nickel district in Labrador, Canada, from which first production is expected to occur this year. Altius also has a diverse portfolio of exploration projects, many of which, are being advanced through agreements with select industry partners. The TSXV has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. Altius Minerals Corporation (TSX VENTURE:ALS) |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion