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Altus Strategies Plc / Index: AIM / EPIC: ALS / Sector: Mining

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18 April 2018

Altus Strategies Plc

("Altus" or the "Company")

C$4.1M Placing & TSXV Listing update

Altus Strategies Plc (AIM: ALS), the Africa focused exploration project generator, announces that it has conditionally raised approximately C$4.1 million (£2.3 million) (before expenses) by way of a non-brokered private placement offering of 27,391,616 units ("Units") at an issue price of C$0.15 (8.46 pence) per share for gross proceeds of C$4,108,742.40, with existing and new institutional and private investors (the "Offering"). Each Unit is comprised of one ordinary share in the capital of Altus ("Ordinary Share") and one Ordinary Share purchase warrant of Altus ("Warrant") exercisable to purchase one Ordinary Share for five years from the closing of the offering ("Closing Date") at an exercise price of C$0.30.

Steve Poulton, Chief Executive of Altus, commented:

"We are delighted by the exceptionally positive response from institutional and private investors to our capital raise. Whilst there was a very strong take up in North America, we were delighted to welcome a new UK institutional investor to our register as well. We thank all of the investors in this placement for their support and welcome them to the Company. This capital raise will allow us to accelerate the growth in our project generation activities across Africa. Separately we are working towards the proposed dual listing of the Company's shares on the TSXV and look forward to updating shareholders on this subject in due course."

Details of the Placing

The Offering is conditional, amongst other things, on the admission of the new Ordinary Shares to trading on the AIM market of the London Stock Exchange ("Admission") on or around 19 April 2018. Application has been made for admission of 27,391,616 new Ordinary Shares to trading on AIM and it is expected that Admission and dealings in these new Ordinary Shares will commence at 8.00 a.m. on 19 April 2018. All Ordinary Shares issued under the Offering, including Ordinary Shares issuable on exercise of the Warrants, are subject to a hold period of four months and one day from the Closing Date pursuant to applicable securities laws. The new Ordinary Shares will represent approximately 15.6% of the Company's enlarged issued share capital on Admission.

Use of Proceeds

The planned use of the net proceeds of the Placing (based on the unit price of C$0.15 and the C$/£ exchange rate of 17 April 2018), being approximately C$3,941,061 (£2,189,174), is for exploration and generative activities on the Company's licences in Africa and for general corporate purposes.

Finders

As previously announced on 12 April 2018, Sprott Capital Partners, a division of Sprott Private Wealth LP, and affiliates acted as finders in connection with the Offering (the "Finders"). Haywood Securities Inc. also acted as Finders for the Offering. Finder's fees are payable on a portion of the Offering, and consist of a cash fee of up to 6.0% of the gross proceeds received from the sale of the Units sold to investors introduced by the Finders and that number of non-transferrable share purchase warrants ("Finder Warrants") equal to 5.0% of the number of Units sold to investors introduced by the Finders, each Finder Warrant entitling the Finder to purchase one Ordinary Share for three years from the Closing Date at C$0.225. A total of 911,861 Finder Warrants are to be issued.

Update on TSX Venture Exchange Listing

As announced on 12 April 2018 the Company has received conditional approval from the TSX Venture Exchange (the "Exchange" or the "TSXV") to list the Company's Ordinary Shares on the Exchange. Final approval for the listing is conditional upon the Company satisfying certain customary listing conditions and requirements imposed by the Exchange, including providing certain documentation and information to the Exchange. The Company is working to satisfy these conditions as quickly as possible. Upon obtaining final approval, the Company will issue a further press release. Following its dual listing on the TSXV, the Ordinary Shares of Altus will remain quoted on the AIM market of the London Stock Exchange.

Total Voting Rights

Following Admission, there will be a total of 176,132,686 Ordinary Shares in issue, none of which are held in treasury. Shareholders should use the figure of 176,132,686 as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Market Abuse Regulation Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 ("MAR") until the release of this announcement. In addition, market soundings (as defined in MAR) were taken in respect of the placing and other matters contained in this announcement, with the result that certain persons became aware of such inside information, as permitted by MAR. That inside information is set out in this announcement and is now considered to be in the public domain. Therefore, upon the publication of this announcement, those persons that received is inside information in a market sounding are no longer in possession of inside information relating to the Company and its securities.

For further information you are invited to visit the Company's website www.altus-strategies.com or contact:

About Altus Strategies Plc

Altus is a London listed (AIM: ALS), diversified and Africa focused mineral exploration project generator. Through our subsidiaries we discover new projects and attract third party capital to fund their growth, development and ultimately exit optionality. This strategy enables Altus to remain focused on the acquisition of new opportunities to be fed into the project generation cycle and aims to minimise shareholder dilution. Our business model is designed to create a growing portfolio of well managed and high growth potential projects, diversified by commodity and by country. Altus currently has seventeen projects in six commodities across six countries. We aim to position our shareholders at the vanguard of value creation, but with significantly reduced risks traditionally associated with investments in the mineral exploration sector.

 Cautionary Note Regarding Forward-Looking Statements

This news release includes certain statements that may be deemed "forward looking statements" with the meaning of applicable securities laws. All statements in this news release, other than statements of historical facts, that address events or developments that Altus Strategies Plc expects to occur, are forward looking statements and involve known and unknown risks, uncertainties and other factors. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "targets" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. The Company believes the expectations, estimates, forecasts and projections expressed in such forward looking statements are based on reasonable assumptions. However, investors are cautioned that such statements are not guarantees of future performance and the Company cannot provide assurance that actual results or performance will not differ materially from those projected in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include changes in market prices, exploration results and the interpretation of other geological data, the ability of the Company to obtain, maintain, renew and/or extend required licences, permits, authorizations and/or approvals from the appropriate regulatory authorities and other risks relating to the legal and regulatory frameworks in jurisdictions where the Company operates, competitive conditions in the mineral exploration sector, the activities of artisanal miners, whose activities could delay or hinder exploration or mining operations, the risk that third parties to contracts may not perform as contracted or may breach their agreements, the ability to attract and retain key management and personnel, terrorism, civil strife, or war in the jurisdictions in which the Company operates, or in neighbouring jurisdictions which could impact on the Company's exploration, development and operating activities, unanticipated costs and expenses, the continued availability of capital and financing on acceptable terms or at all, and general economic, market or business conditions.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release. 

**ENDS**