Diversified mining royalty company Altius Minerals Corporation (TSX: ALS) has announced the successful completion of its previously announced underwritten public offering. The company issued 3 million common shares at a price of C$60.50 per share, generating total gross proceeds of approximately C$181.5 million.

The offering was led by a syndicate of underwriters with National Bank Financial Inc., Scotia Capital Inc., and TD Securities Inc. acting as joint bookrunners. The underwriting group also included ATB Capital Markets Corp., Canaccord Genuity Corp., Raymond James Ltd., and BMO Capital Markets. Additionally, the underwriters were granted an over-allotment option, allowing them to purchase up to an additional 15% of the shares sold at the same offering price for 30 days following closing. If exercised in full, this could increase the total gross proceeds to approximately C$209 million.

Altius Minerals stated that the net proceeds from the offering will be used to strengthen its balance sheet to support the integration of several acquisitions completed year-to-date in 2026, as well as for general corporate purposes. So far in 2026, Altius has completed the acquisition of Lithium Royalty Corp. for approximately C$140 million and increased its stake in renewable energy royalty company Great Bay Renewables from 29% to 50%. The company indicated that the funds raised, combined with an amended and expanded credit facility, will enhance its liquidity. This positions the company to pursue additional value-accretive opportunities while maintaining a prudent level of leverage.

In a separate preliminary report released on July 20th, the company estimated its attributable royalty revenue for the second quarter to be approximately C$30 million. This figure represents a record high and a significant increase from the C$12.7 million reported in the same quarter last year.