BRIEF-Altius announces Allegiance Coal to acquire Telkwa Coal

Wed Sep 21, 2016 9:37am EDT
 
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Sept 21 (Reuters) - Altius Minerals Corp

* Altius announces Allegiance Coal to acquire Telkwa Coal

* TCL has right to earn up to a 90 percent interest in Telkwa project in exchange for staged milestone payments

* Upon regulatory and shareholder approvals of proposed transaction, co expects to retain a project level royalty over Telkwa project

* Co will retain both a sliding scale gross sales royalty between 3% and 4.5% depending upon benchmark coal prices at time of any coal sale

* Elected to receive pending milestone option payments in form of shares that will result in co receiving shares in Allegiance

* Upon successful regulatory and shareholder approvals of proposed transaction Altius expects to be a significant shareholder of Allegiance Source text for Eikon: Further company coverage: [ ]