Under one final agreement As announced by the two companies on Monday (Dec. 22), Altius plans to purchase all of the issued common and convertible common shares of Lithium Royalty for C$9.50 each.
The amount will be paid in the form of C$9.50 in cash or 0.24 of an Altius common share, depending on the shareholders’ choice.
For Altius, the acquisition will make it possible to acquire a portfolio of 37 lithium rights. None involve streams and include projects from production through early exploration.
Four of the royalties are linked to production assets, three of which were commissioned in 2025 and are currently being ramped up or expanded. Another twelve projects are at an advanced stage and have completed economic studies, while three to five additional projects are targeting start-up between 2026 and 2030.
The company said the portfolio is geographically concentrated in lower risk jurisdictions, with most assets located in Canada, Australia and South America, and is diversified across both brine-based and hard lithium production.
At current spot prices, Altius expects the acquired royalties to contribute between $29 million and $43.7 million to annual revenue by the end of the decade. Lithium carbonate equivalent prices fell to multi-year lows in 2025 and remained below $9,000 per tonne for most of the year, even as demand continues to expand beyond electric vehicles.
Altius said global demand for lithium is expected to exceed 1.5 million tonnes of lithium carbonate equivalent by 2025, with supply shortages potentially re-emerging as early as 2026 after years of oversupply.
Altius CEO Brian Dalton said lithium has “emerged as a mainstream mining commodity,” describing the acquired portfolio as characterized by “very long resource life,” strong cost positioning and low jurisdictional risk.
A special shareholders’ meeting is scheduled for March 10, 2026 at the latest.
If approved, the deal is expected to close in the first quarter of 2026, at which time the Lithium Royalty shares will be delisted and the company will no longer be a reporting issuer in Canada.
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Securities Disclosure: I, Giann Liguid, have no direct investment interest in any company mentioned in this article.
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