Substantial Issuer Bid
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Lithium Chile Provides Update on the Transaction for the Sale of Arizaro Project
Thenewswire· 2026-01-14 13:00
Core Viewpoint - Lithium Chile Inc. is progressing towards closing the sale of its Arizaro project for US $175,000,000, with key steps being taken to advance the transaction [1][3]. Transaction Details - The transaction involves the sale of the Arizaro project through the company's Argentinian subsidiary, Argentum Lithium S.A. [1][2]. - A US $5,000,000 deposit from China Union Holdings Ltd. has been secured and will be held in escrow as security for the purchaser's payment obligations [3]. Transaction Progress - An Annual General and Special Shareholder Meeting is scheduled for May 15, 2026, to seek shareholder approval for the transaction [3]. - The company is considering a Substantial Issuer Bid (SIB) to distribute a portion of the net proceeds from the transaction to shareholders, which would reduce the number of issued and outstanding common shares [3][10]. Next Steps - The company is working to satisfy all remaining closing conditions while China Union Holdings is advancing its regulatory approval process [4]. - Further updates will be provided as milestones are achieved [4]. Arizaro Operations - The project team is maintaining the Arizaro asset and fulfilling all operational, environmental, and community-related obligations [5]. Market Awareness - The company plans to enhance market communications to improve awareness of its underlying value, as current trading levels are perceived to be below its net asset value [6]. - A services agreement has been established with Departures Capital Inc. for digital marketing and investor awareness services at a cost of CAD $100,000 over 12 months [7]. Company Overview - Lithium Chile Inc. holds a portfolio of 11 properties covering 106,136 hectares in Chile and 29,245 hectares in Argentina [8]. - The company has completed a NI 43-101 compliant Resource Report, Preliminary Economic Assessment, and Prefeasibility Study for the Arizaro project [8].
Altus Group Announces Commencement of Substantial Issuer Bid
Globenewswire· 2025-11-26 12:00
Core Viewpoint - Altus Group Limited has initiated a substantial issuer bid (SIB) to repurchase up to C$350,000,000 of its common shares, believing the current market price does not reflect the company's fundamental value [1][3]. Summary by Sections Issuer Bid Details - The SIB will run from November 26, 2025, to January 8, 2026, unless modified [1]. - Shareholders can participate through a "modified Dutch auction" with three tender options: auction tender, purchase price tender, and proportionate tender [2]. - The price range for the shares is set between C$50.00 and C$57.00, representing a premium of 0.40% to 14.46% over the closing price on November 19, 2025 [4]. Shareholder Participation - Participation in the SIB is optional, allowing shareholders to choose how many shares to tender and at what price [5]. - Jarislowsky Fraser Global Investment Management, owning approximately 13.19% of shares, plans to make a proportionate tender to maintain its ownership [6]. Financial and Market Context - As of November 25, 2025, Altus Group had 3,222,129 shares issued and outstanding [7]. - The SIB will be funded using the company's cash on hand, reflecting its liquidity position [3][13]. Auction Process - The final purchase price will be determined based on valid tenders and will be the lowest price that allows Altus Group to purchase all shares tendered at or below that price [8][10]. - If the total purchase price exceeds the auction tender limit, shares will be purchased on a pro rata basis, with odd lot holders exempt from proration [10]. Documentation and Conditions - The formal offer documents detailing the SIB terms will be filed with Canadian securities authorities and made available on SEDAR+ [11]. - The SIB is not conditional on a minimum number of shares being tendered but is subject to customary conditions for such transactions [12]. Advisory and Management - RBC Capital Markets has been engaged as the financial advisor and dealer manager for the SIB [14]. - The Board has approved the SIB and its parameters, but does not recommend whether shareholders should tender their shares [15].