Altius Minerals raises GBR stake to 50% and expands credit facility

Altius Minerals Corporation (TSX: ALS) (OTCQX: ATUSF) has closed a transaction that increases its effective ownership interest in Great Bay Renewable Holdings, LLC and Great Bay Renewable Holdings II, LLC (collectively, "GBR") to 50%, according to a press release.

Under the deal, funds managed by affiliates of Apollo (NYSE: APO) sold their membership interests in GBR to Northampton Capital Partners ("Northampton") for approximately US$390 million. Northampton then sold its interest in Altius Renewable Royalties Corp. to Altius for approximately US$168 million.

As a result, Altius's effective interest in GBR increased from 29% to 50%, while Northampton's effective interest increased from 22% to 50%. Apollo funds no longer hold an interest in GBR. Beginning in Q3 2026, Altius will report its proportionate 50% share of GBR revenues and expenses.

Separately, on July 24, 2026, Altius amended its credit facility, increasing it to C$350 million from C$225 million. The facility is jointly led by Bank of Nova Scotia and Toronto-Dominion Bank, with participation from National Bank of Canada, ATB Financial, Desjardins Financial Security Life Assurance Company, and Export Development Canada. Bank of Nova Scotia serves as Administrative Agent.

The amended facility replaces the previous term and revolving structure with a single revolving facility requiring no principal repayments. An existing debt balance of approximately C$87 million was transferred to the amended facility, with maturity extended from August 2028 to July 2030. Following the amendment, Altius drew down C$100 million from the facility to fund the GBR transaction. The facility bears interest at variable rates with pricing tied to the total net debt ratio.

You May Also Be Interested In

• Zscaler to cut 3% staff
• SentinelOne expands AI security services with OpenAI models
• investor plans to vote against Angel Oak fund trustee nominees