2018 Full Year Results Release Date and Conference Call Details

TORTOLA / ACCESSWIRE / April 24, 2019 / Atlas Mara Limited (“Atlas Mara”, or “the Company”) (LON: ATMA), the sub-Saharan Africa financial services group, will be releasing its Full Year 2018 results on 30 April 2019. In connection with the publication of its results the Company will be holding a conference call for investors at 10am EST / 3pm BST on 30 April 2019. Details for the conference call are below.

Conference Call Details:

United States: +1 (631) 913 1422

United Kingdom: +44 3333000804

Participant PIN Code: 45055004#

Date: Tuesday, 30 April 2019

Time: 10am EST / 3pm BST

Contacts

Investors

Kojo Dufu, +1 212 883 4330

Media

Teneo Blue Rubicon, +44 (0)207 4203142

Anthony Silverman

About Atlas Mara

Atlas Mara Limited (LON: ATMA) is a financial services institution founded by Bob Diamond and listed on the London Stock Exchange. Its vision is to create sub-Saharan Africa’s premier financial services institution through organic and inorganic growth by combining the best of global institutional knowledge with extensive local insights. With a presence in seven sub-Saharan countries, Atlas Mara aims to be a positive disruptive force in the markets in which we operate by leveraging technology to provide innovative and differentiated product offerings, deliver excellent customer service and accelerate financial inclusion. For more information, visit www.atlasmara.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

SOURCE: Atlas Mara

ReleaseID: 542885

MCKINNEY, TX / ACCESSWIRE / April 24, 2019 / Independent Bank Group, Inc. (NASDAQ: IBTX), the holding company for Independent Bank, announced that its Board of Directors has declared a quarterly cash dividend in the amount of $0.25 per share of common stock. The dividend will be payable on May 16, 2019 to stockholders of record as of the close of business on May 6, 2019.

About Independent Bank Group

Independent Bank Group, through its wholly owned subsidiary, Independent Bank, provides a wide range of relation- ship-driven commercial banking products and services tailored to meet the needs of businesses, professionals and individuals. Independent Bank Group operates in four market regions located in the Dallas/Ft. Worth, Austin, and Houston areas in Texas and the Colorado Front Range area, including Denver, Colorado Springs and Fort Collins.

Forward-Looking Statements

Certain statements contained in this press release that are not statements of historical fact constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties and are made pursuant to the safe harbor provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are statements other than statements of historical facts. Such statements are typically, but not exclusively, identified by the use in the statements of words or phrases such as “aim,” “anticipate,” “estimate,” “expect,” “goal,” “guidance,” ” intend,” “is anticipated,” “is expected,” “is intended,” “objective,” “plan,” “projected,” “projection,” “will affect,” “will be,” “will continue,” “will decrease,” “will grow,” “will impact,” “will increase,” “will incur,” “will reduce,” “will remain,” “will result,” “would be,” variations of such words or phrases (including where the word “could,””may,” or “would” is used rather than the word “will” in a phrase) and similar words and phrases indicating that the statement addresses some future result, occurrence, plan or objective. The forward-looking statements that Independent Bank Group makes are based on our current expectations and assumptions regarding our business, the economy, and other future conditions. Because forward-looking statements relate to future results and occurrences, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict. Further information on Independent Bank Group and factors which could affect the forward-looking statements contained herein can be found in Independent Bank Group’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018 and our other filings with the Securities and Exchange Commission (“SEC”).

CONTACTS:

Analysts/Investors:

Michelle Hickox
Executive Vice President and Chief Financial Officer
(972) 562-9004
mhickox@ibtx.com

Mark Haynie
Executive Vice President and General Counsel
(972) 562-9004
mhaynie@ibtx.com

Media:

Peggy Smolen
Senior Vice President Marketing & Communications
(972) 562-9004
psmolen@ibtx.com

SOURCE: Independent Bank Group, Inc.

ReleaseID: 542884

LATROBE, PA / ACCESSWIRE / April 24, 2019 / Commercial National Financial Corporation (OTCQX: CNAF) (Company), parent Company of Commercial Bank & Trust of PA, has reported results for the quarter ended March 31, 2019. The Company earned $1,208,,000 (or $0.42 per average share outstanding) in the first quarter 2019 compared to $1,040,000 (or $0.36 per average share outstanding) in the first quarter of 2018.

First quarter 2019 earnings increased $168,000, or 16.15%, over first quarter 2018 results due to core earnings growth. The Company’s annualized return on average assets for the quarter ended March 31, 2019 was 1.15%, compared to 1.08% for the quarter ended March 31, 2018. First quarter tax equivalent net interest margin was 4.09%. Asset credit quality metrics continue to be outstanding relative to prevailing banking industry norms. The effective tax rate for the quarter ended March 31, 2019 was 6.65%. Tier one risk-based, total risk-based, leverage and common equity tier one capital ratios for March 31, 2019 were 22.16%, 22.68%, 13.93% and 22.16%, respectively.

The Company’s strong capital position, supplemented by recent and reasonably anticipated core earnings, remains supportive of the regular $0.26 quarterly common stock cash dividend payments to shareholders. Providing an attractive and reliable cash dividend income stream to all our shareholders through the safe and sound operation of the subsidiary bank is a long-standing top priority for the Company.

Direct and beneficial ownership by executive officers and directors of the Company’s outstanding shares totaled 472,975 shares, or 16.53% on March 31, 2019.

As disclosed each year in the Annual Report to Shareholders, on March 31, 2019, the Company employed 97 people in full-time and part-time positions. Forty-five (45) employees are represented by the United Auto Workers, Local 1799. Of that bargaining unit total, Thirty-five (35) employees are full-time and ten (10) employees are part-time. The Company has had unionized employees since 1972. In October 2018, the agreement between the Company and the bargaining unit was negotiated and subsequently ratified by the bargaining unit with an effective date of February 16, 2019. The labor agreement will expire in February 2024. The Commonwealth of Pennsylvania and the National Labor Relations Board both afford protection to the organized status of pre-existing collective bargaining units. The Company has been advised that bargaining unit status may limit the Company’s strategic options relative to those of non-unionized insured depository institutions. The Company continues to consider this as a factor in its strategic and capital management decisions.

The Company operates nine community banking facilities in Greensburg, Hempfield Township, Latrobe, Ligonier, North Huntingdon, Unity Township and West Newton, Pennsylvania and also maintains a commercial business development sales force throughout its entire market area. The Company operates an asset management and trust division of Commercial Bank & Trust of PA headquartered in Greensburg, Pennsylvania. Commercial Bank & Trust of PA also serves its customer base from an Internet banking site (www.cbthebank.com) and an automated TouchTone Teller banking system.

Safe Harbor Statement

Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “may,” “will,” “to,” “expect,” “believe,” “anticipate,” “intend,” “could,” “would,” “estimate,” or “continue” or the negative or other variations thereof or comparable terminology are intended to identify forward-looking statements. These statements are based on information currently available to the Company, and the Company assumes no obligation to update these statements as circumstances change. Investors are cautioned that all forward-looking statements involve risk and uncertainties, including changes in general economic and financial market conditions, unforeseen credit problems, and the Company’s ability to execute its business plans. The actual results of future events could differ materially from those stated in any forward-looking statements herein.

Contact Information:

Wendy S. Piper
First Senior Vice President
Secretary/Treasurer
wpiper@cbthebank.com

724-537-9923

COMMERCIAL NATIONAL FINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
(Unaudited)
(Dollars in thousands, except per share data)

March 31,

December 31,

March 31,

2019

2018

2018

ASSETS

Cash and due from banks on demand

$
5,068

$
5,642

$
3,163

Interest bearing deposits with banks

103

59

44

Cash and Cash Equivalents

5,171

5,701

3,207

Securities available for sale

160,841

159,741

153,582

Restricted investments in bank stock

1,558

1,411

894

Loans

228,167

227,747

206,969

Allowance for loan losses

(1,340
)

(1,349
)

(1,289
)

Net loans

226,827

226,398

205,680

Premises and equipment

2,713

2,800

2,919

Investment in life insurance

19,901

19,767

19,365

Other assets

4,679

3,808

4,606

Total assets

$
421,690

$
419,626

$
390,253

LIABILITIES AND SHAREHOLDERS’ EQUITY

Liabilities

Deposits

Non-interest bearing

$
128,131

$
128,437

$
120,765

Interest bearing

193,786

197,482

194,828

Total deposits

321,917

325,919

315,593

Short-term borrowings

35,512

32,822

15,265

Other liabilities

1,912

1,351

876

Total liabilities

359,341

360,092

331,734

Shareholders’ equity

Common stock, par value $2 per share;

10,000,000 shares authorized; 3,600,000

shares issued; 2,860,953 shares

outstanding in 2019 and 2018

7,200

7,200

7,200

Retained earnings

63,549

63,085

62,011

Accumulated other comprehensive income

4,144

1,793

1,852

Treasury stock, at cost, 739,047 shares

in 2019 and 2018

(12,544
)

(12,544
)

(12,544
)

Total shareholders’ equity

62,349

59,534

58,519

Total liabilities and shareholders’ equity

$
421,690

$
419,626

$
390,253

COMMERCIAL NATIONAL FINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
(Unaudited)
(Dollars in thousands, except per share data)

Three Months Ended

Three Months Ended

March 31,

March 31,

2019

2018

INTEREST INCOME

Interest and fees on loans

$
2,591

$
2,230

Interest and dividends on securities:

Taxable

1,051

1,039

Exempt from federal income taxes

559

468

Other

34

12

Total Interest income

4,235

3,749

INTEREST EXPENSE

Interest on deposits

187

101

Interest on short term borrowings

252

57

Total Interest expense

439

158

NET INTEREST INCOME

3,796

3,591

PROVISION FOR LOAN LOSSES

–

–

NET INTEREST INCOME AFTER

PROVISION FOR LOAN LOSSES

3,796

3,591

OTHER OPERATING INCOME

Asset management and trust income

340

356

Service charges on deposit accounts

169

177

Net Security losses

(3
)

–

Gain on sale of OREO

4

–

Income from investment in life insurance

126

127

Other income

64

79

Total other operating income

700

739

OTHER OPERATING EXPENSES

Salaries and employee benefits

1,867

1,830

Net occupancy expense

218

217

Furniture and equipment

106

122

Pennsylvania shares tax

142

128

Legal and professional

78

120

FDIC Insurance

28

29

Other expenses

763

723

Total other operating expenses

3,202

3,169

INCOME BEFORE INCOME TAXES

1,294

1,161

Income tax expense

86

121

Net income

$
1,208

$
1,040

Average Shares Outstanding

2,860,953

2,860,953

Earnings Per Share

$
0.42

$
0.36

SOURCE: Commercial National Financial Corporation

ReleaseID: 542868

NEW YORK, NY / ACCESSWIRE / April 24, 2019 / Probax, a full service Cloud Management Platform provider, is pleased to announce that they have officially released their new Digital Marketing Toolkit (DMT) to Managed Service Providers (MSPs) in North America. The new DMT will provide partners with a full featured and free library of marketing assets designed to help MSPs customize and launch lead generation marketing campaigns quickly and easily. The entire toolkit can be co-branded or completely MSP branded and includes a free suite of options including:

The Probax DMT Guidebook – The core execution guide for launching effective lead generation campaigns for Managed Backup Services

Website and landing page content

Targeted email templates with industry specific analysis and statistics

Content offers including a Disaster Preparedness Checklist

Content offers including 20+ focused email templates

Social media content

Customizable sales presentation templates

Data breach legislation information

“Probax is a multi-vendor, multi-tenant Platform as a Service, offering intelligent and automated cloud solutions including BaaS, DRaaS, AaaS, SaaS Protection and Software Licensing to MSPs globally. Our award-winning solutions are available to channel partners in Australia, New Zealand USA and Canada,” says Sam Meegahage, CEO of Probax. “Offering a comprehensive, free library of marketing assets in North America is our way of helping our partners with their digital content, marketing and sales efforts. Delivering polished, professional and relevant content is a challenge for all MSPs and with our new marketing toolkit, partners can easily deliver branded marketing content promoting their data protection and disaster recovery services,” adds Meegahage.

“We are incredibly excited to offer our new marketing toolkit to Managed Service Providers, System Integrators and Value-Added Resellers of all sizes,” says Nadia Allan, VP of Sales at Probax. “All partners would agree that sales and marketing are amongst the hardest aspects within their business and we want to help our partner growth through effective lead generation, sales and marketing. Our DMT will save our partners marketing time and dollars; something all partners will appreciate,” says Allan.

Prior to our release, Probax had asked a select few partners to trial the DMT and provide their feedback. The results were positive:

“The Probax DMT has allowed us to deliver relevant and impactful content to our clients. We have seen a significant uptake in data protection services thanks to the industry-specific content and lead generation campaigns created by Probax,” says Andrew Holding, Director at Initiative IT.

“As an IT Provider, our customers depend on us to be present, be relevant and add value. With Probax’s Digital Marketing Toolbox, we can be the trusted advisors our customers need, minus the costs of having to develop our own content,” says Milan Maricic, Chief Operations Officer at SIAX Computing Solutions.

The DMT is available to all Probax partners globally via their management portal, Probax Control or by contacting partners@probax.io.

With the launch of the new DMT, Probax is also pleased to announce significant partner growth in North America with a 1,800% growth in partner signings in the first quarter of 2019 when compared to 2018. Probax has grown within North America as partners enjoy the flexible and MSP friendly backup and recovery solutions. One such signing was with Stage2Data, a premier and uniquely positioned business continuity managed service provider in Oakville, Ontario, Canada.

“Stage2Data is an elite Managed Service Provider offering our clients premier DRaaS, BaaS and managed services,” states Stephen Pyott, VP of Sales at Stage2Data. “Stage2Data focuses on adding true turn-key solutions and value for our clients. We had an immediate need for Office 365 protection and evaluated several archive and backup solutions. After just one meeting and demo with Probax, and after we trialed their complete portfolio of products, we had no hesitation about becoming a partner. Once we compared Probax to every other provider, Probax’s offer was, by far, the easiest yet most comprehensive solution available,” adds Pyott.

“We are very happy that Stage2Data choose Probax. Stage2Data is a well-established MSP with very select clients. Having Stage2Data as our first large Canadian partner is exciting for everyone at Probax,” says Meegahage.

For more information on the Probax platform and solutions portfolio, please contact:

Nadia Allan

Vice President of Sales, Americas
Phone: 8888-776229
Email: nadia.allan@probax.io
Probax USA Inc.
2nd Floor, 447 Broadway, New York, NY 10013
www.probax.io

About Probax (www.probax.io)

Probax is a MSP & channel solution provider creating solutions that Protect, Control and Recover any company’s data and applications. We source and integrate technology solutions for the channel by implementing the tools of today, designing for the emerging SMB, SME and MSP of tomorrow. We are proud to offer our services exclusively to Managed Service Providers globally.

About Stage2Data (www.stage2data.com)

Stage2Data is one of Canada’s fastest growing and most trusted cloud solution providers since 2009, with a global data center presence and over five Petabytes under management.

Stephen Pyott

Vice President of Sales
Direct: 416-863-8635
Stage2Data Inc.
700 Dorval Dr., Suite 400
Oakville, ON, L6K 3V3
www.stage2data.com

SOURCE: Probax

ReleaseID: 542671

Borrowing Base Increases 31% to $950 Million as New Banks Also Join the Syndicate

BIRMINGHAM, AL / ACCESSWIRE / April 24, 2019 / London-AIM quoted Diversified Gas & Oil PLC (AIM: DGOC, ”Diversified” or the ”Company”), a U.S.-based owner and operator of natural gas, natural gas liquids, oil wells and midstream assets in the Appalachian Basin, is pleased to announce details of its expanded and fully underwritten borrowing base of $950 million.

Following the Company’s recent successful acquisition of Appalachian gas producing assets from HG Energy II Appalachian, LLC, Diversified’s bank syndicate, led by KeyBank National Association, has been enlarged. Accordingly, the borrowing base available under its $1.5 billion facility has been increased 31% from $725 million to $950 million. Funded in part by its senior secured revolving credit facility first agreed to in March 2018, the Company has acquired more than $1.3 billion of long-life, low-decline gas and oil producing assets in the Appalachian Basin contributing to pro-forma daily net production of more than 90,000 barrels of oil equivalent per day.

The bank syndicate has been increased from 12 to 14 banks and now includes DNB Bank ASA (”DNB”) and BBVA Compass. Royal Bank of Canada (”RBC”) also joined the bank syndicate at the Company’s previous redetermination in December 2018.

In addition, the Company has negotiated a 25 basis points reduction to each tier of the facility’s pricing grid, lowering the spread by nearly 10%. The current pricing grid for amounts drawn on its facility is LIBOR plus 2.0%-3.0%, depending on utilization.

Reflective of the higher borrowing base and underpinned by the quality of the acquired assets, the Company’s post-acquisition liquidity exceeds pre-acquisition levels while leverage remains unchanged at 1.8x Net Debt-to-EBITDA. Diversified’s current liquidity is approximately $330 million and remains available to fund organic development and further acquisitions.

Rusty Hutson, Jr., CEO of Diversified, commented, ”I would like to express my gratitude to our banking group for their continued commitment to Diversified’s vision. We are thrilled to welcome RBC, DNB and BBVA Compass to the family of world-class banks participating in our facility. It’s hard to believe that the credit facility we established in March 2018 with a borrowing base of $200 million has grown nearly 500% in just one year to its current $950 million level, which is a reflection of the high-quality, long-life reserves that underpin our assets. With liquidity exceeding $330 million and a lower interest rate on borrowings, we can complete meaningful acquisitions without the need for additional equity raises while simultaneously maintaining our commitment to low leverage with Net Debt-to-EBITDA of approximately 2x.”

For more information, visit www.dgoc.com.

###

About Diversified Gas & Oil

Diversified Gas & Oil (AIM: DGOC) acquires and operates gas- and oil-producing assets in the Appalachian Basin of the United States. Diversified employs a disciplined investment strategy to acquire conventional and unconventional low-risk wells, enhance operations efficiently and maximize profitability for its shareholders. Founded in 2001, Diversified operates a growing portfolio of producing wells with the highest standards of safety, governance and transparency. For more information, visit us online at www.dgoc.com.

Company Contact: Teresa Odom | ir@dgoc.com | 205.408.0909

Media Contact: Kyle Erickson | kyle@markstein.co | 205.533.8319

SOURCE: Diversified Gas & Oil PLC

ReleaseID: 542773

DIDCOT, UK / ACCESSWIRE / April 24, 2019 / Altus Strategies Plc (AIM: ALS & TSX-V: ALTS), the Africa focused royalty and project generator, announces that on 20 April 2019 it signed a non-binding Term Sheet (“Term Sheet”) with Corben Resources Ltd (“Corben”), in respect of the vending of the Company’s Zolowo gold project (“Zolowo”) in Liberia to Corben, and a Joint Venture (“JV”) with Corben on its Laboum gold project (“Laboum”) in northern Cameroon. Altus will retain a 2.5% Net Smelter Return (“NSR”) production royalty on both projects. Zolowo and Laboum (together the “Projects”) are held by Auramin Ltd (“Auramin”) a 99% owned subsidiary of the Company. Corben is a public unlisted company created to explore for and develop gold projects in sub-Saharan Africa.

Highlights:

Royalty generating vend-in and JV Term Sheet signed with Corben

Deal is with Auramin, a 100% owned subsidiary of Altus

Two gold projects located in western Liberia and northern Cameroon

Subject to entering definitive agreements (“Agreements”) Altus will:

receive milestone based cash and equity payments from Corben

retain a 2.5% NSR royalty on the Projects

be the operator of the Laboum Project during the first 24 months

A two month due diligence period has commenced

Corben intends to list on the Australian Securities Exchange (“ASX”)

Steven Poulton, Chief Executive of Altus, commented:

“We are delighted to have signed this royalty and JV Term Sheet with Corben for the vend-in of our Zolowo gold project in Liberia and a JV on our Laboum gold project in Cameroon. Based on our exploration to date, we believe these Projects are prospective for the discovery of large scale gold deposits. The deal is designed to ensure the Projects are advanced rapidly and cost-efficiently. Upon entering definitive agreements, Corben will acquire the Zolowo project and have an option to acquire up to a 100% interest in Laboum Projects. In return, Altus will receive a significant upfront equity payment in Corben shares, future milestone-based payments of cash and Corben equity and a 2.5% NSR on the Projects. Corben is an Australian company which has been formed to explore for and develop gold projects in sub-Saharan Africa. We look forward to concluding the final agreements and to working with Corben thereafter. This transaction further underscores our royalty and project generator strategy where we explore for and monetise mineral discoveries in Africa. The deal is subject to the completion of due diligence by Corben and we look forward to providing updates in due course.”

Headline Terms

Auramin has two 100% owned subsidiaries which are incorporated in the Republic of Seychelles, namely Eagle Resources Ltd (“Eagle”) and Mansion Resources Ltd (“Mansion”). Through their respective local operating companies Eagle is the 100% owner of the Zolowo gold project located in western Liberia and Mansion is the 100% owner of the Laboum gold project located in northern Cameroon. Following the execution of the Agreements, Corben will change its name to Auramin and subject to Corben raising A$350,000 of initial equity capital, Corben will pay Altus a A$50,000 exclusivity payment. Subject to Corben listing on the ASX the following transactions will also occur:

Part 1: Altus to transfer Eagle to Corben in return for:

A cash payment to Altus of A$82,500

10% of the issued equity capital of Corben upon its Initial Public Offering (“IPO”)

Milestone payments of A$500,000 on the definition of each of a one million ounce resource and a one million ounce reserve

A 2.5% NSR royalty on the Zolowo project. Corben will have the right to purchase 1.0% of the NSR by the payment of US$2,000,000

Due to Altus’ presence in Liberia, Altus will provide exploration services to Corben at Zolowo for the first 24 months on an at cost +10% basis

Part 2: Corben and Altus will enter a JV whereby Corben may earn up to a 100% interest in Mansion on the following terms:

Stage 1 (Exploration): Corben will have the right to earn an initial 51% interest in Laboum by:

expending A$2,000,000 on exploration at Laboum within two years;

making a payment to Altus of A$250,000 payable in Corben shares at the IPO price; and

making a cash payment to Altus of A$150,000.

Stage 2 (Exploration): Corben will have the right to earn a further 19% interest in Laboum by:

expending A$4,000,000 on exploration at Laboum within the subsequent two years;

making a payment to Altus of A$350,000 payable in Corben shares; and

making a cash payment to Altus of A$200,000.

Stage 3 (Definitive Feasibility Study): Corben will have the right to earn a further 20% interest in Laboum by:

completing a definitive feasibility study within the subsequent two years;

making a payment to Altus of A$500,000 payable in Corben shares; and

making a cash payment to Altus of A$350,000.

Stage 4 (Mine Construction): Altus will have the right to co-fund Stage 4, or allow Corben to earn a further 10% interest in Laboum by:

completing mine construction within the subsequent two years;

making a payment to Altus of A$5,000,000 payable in Corben shares;

making a cash payment to Altus of A$1,000,000; and

Altus will retain a 2.5% NSR royalty on the Laboum project. Corben will have the right to purchase 1.0% of the NSR by the payment of US$2,000,000.

Withdrawal: Corben may elect to withdraw from the JV at any time and retain an NSR royalty of up to 1.0% depending on the stage of completion at the point of withdrawal. After Corben has received back 150% of its investment in the JV from the royalty, the NSR royalty will reduce to 0.5%. Altus will have the right to purchase the remaining NSR royalty for US$1,000,000. Alternatively if having completed Stage 1, Corben may elect to sell its interest in Mansion, subject to offering Altus a right of first refusal to buy the interest on the same terms. If Corben sells its interest in Mansion then it will relinquish its NSR royalty rights

Altus will manage the JV on an at cost +10% basis until Corben has earned a 51% interest in Mansion

The Agreements are expected to include standard change of control, non-compete and default provisions. Subject to Altus holding a 10% or higher interest in Corben, the Company shall have the right to nominate one director to the board of Corben. Completion of the Agreements is to take place no later than 14 October 2019.

About the Zolowo Gold Project

The 466km2 Zolowo exploration licence is located in Lofa County of north-western Liberia, approximately 190km northeast of the capital city of Monrovia. The licence contains the town of Zorzor and a main road which links the towns of Gbarnga (60km to the south) and Voinjama (70km to the north). The Archaean geology of western Liberia is considered analogous to that which hosts the Kerr-Addison mine in Ontario, the Golden Mile in Kalgoorlie and the Homestake mine in the United States.

Zolowo was selected by the Company after comprehensive in-house analysis of available datasets including geological maps, historic mineral occurrences and satellite imagery. The licence contains an Archaean greenstone belt that forms a prominent ridge for approximately 33km across the licence. Zolowo is located on the same NE-SW geological trend as the New Liberty gold mine which is owned and operated by AIM and TSX listed Avesoro Resources Inc.

Initial reconnaissance exploration has been completed by the Company at Zolowo. The prospecting work has confirmed the presence of numerous artisanal alluvial gold mining sites. Over 50 separate workings have now been visited by Altus to date, clustered within the central part of the licence. Of these, 35 were found to be active and the largest extended for approximately 250m. At each working up to 25 artisanal miners were found to be selectively mining gold-bearing gravels, often at the boundary between saprolite and bedrock. It was reported that gold has been mined in this way from the Zolowo area since the 1930’s.

About the Laboum Gold Project

The 189km2 Laboum exploration licence (currently pending renewal to 94.3km2 in size) is located in north-eastern Cameroon, approximately 110km southeast of the provincial capital of Garoua which is served by a regional airport, and 600km northeast of the capital city of Yaoundé. Year-round access to the licence area is provided by a network of maintained laterite roads.

The Laboum area was selected by the Company due to the presence of a major northeast-southwest striking regional shear zone, which in places is up to 5km wide and is coincident with numerous gold anomalies defined by the Bureau de Recherches Geologiques et Mines (“BRGM”) in the 1990’s. The shear is considered to be a splay of the Central African Shear Zone. The geology of the project area comprises highly prospective Birimian metavolcanic and metasedimentary rocks which have been intruded by synkinematic late Pan-African granites. Dilational and fold structures which exist along and within the shear zone are considered to be excellent targets to explore for potentially economic mesothermal gold deposits.

Exploration in the area was first undertaken by the BRGM in the late 1980’s, including mapping, drainage, soil, termite-mound and rock chip sampling. The work successfully identified several prospective areas. A stream and pan-concentrate sampling programme completed by the Company defined a 20km long northeast-southwest striking zone of gold-bearing streams and the presence of artisanal alluvial gold workings coincident with the core of the shear zone. The analysis of ASTER and LANDSAT satellite imagery, alongside aerial photos, has been employed by the Company to define alteration patterns and interpret structural associations.

A regional soil sampling programme has been completed by the Company over the 15km long by 5km wide target area which generated numerous targets with over 2,200 samples collected. Subsequently, the Company has undertaken a 1,028 line kilometre high resolution ground magnetic geophysical survey. The magnetic data has defined numerous potential lithological and structural targets coincident with the regional soil anomalies and areas of mapped silicification. Quartz veins discovered and sampled during these surveys have returned grades up to 24.50 g/t Au. Reconnaissance trenching to bedrock by the Company, has further confirmed the association of primary gold mineralisation with the regional shearing, with grades up to 6.86 g/t Au. The next phase of work will include systematic trenching over the generated targets to define potential drill targets.

Qualified Person

The technical disclosure in this regulatory announcement has been read and approved by Steven Poulton, Chief Executive of Altus. He has not verified the historical data disclosed in this regulatory announcement but has no reason to question its accuracy. A graduate of the University of Southampton in Geology (Hons), Steven Poulton also holds a Master’s degree from the Camborne School of Mines (Exeter University) in Mining Geology. He is a Fellow of the Institute of Materials, Minerals and Mining and has over 20 years of experience in mineral exploration and is a Qualified Person under the AIM rules and National Instrument 43-101 Standards of Disclosure of Mineral Projects of the Canadian Securities Administrators.

Market Abuse Regulation (MAR) Disclosure

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

For further information you are invited to visit the Company’s website www.altus-strategies.com or contact:

Altus
Strategies Plc

Steven Poulton, Chief Executive

Tel: +44 (0) 1235 511 767

E: info@altus-strategies.com

SP Angel
(Nominated Adviser)

Richard Morrison / Soltan Tagiev

Tel: +44 (0) 20 3470 0470

SP Angel (Broker)

Richard Parlons / Jonathan Williams

Tel: +44 (0) 20 3470 0471

Blytheweigh
(Financial PR)

Tim Blythe / Camilla Horsfall

Tel: +44 (0) 20 7138 3204

About Altus Strategies Plc

Altus is a London (AIM: ALS) and Toronto (TSX-V: ALTS) listed royalty and project generator in the mining sector with a focus on Africa. Our team creates value by making mineral discoveries across multiple licences. We enter joint ventures with respected groups and our partners earn interest in these discoveries by advancing them toward production. Project milestone payments we receive are reinvested to extend our portfolio, accelerating our growth. The portfolio model reduces risk as our interests are diversified by commodity and by country. The royalties generated from our portfolio of projects are designed to yield sustainable long term income. We engage constructively with all our stakeholders, working diligently to minimise our environmental impact and to promote positive economic and social outcomes in the communities where we operate.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this news release contain forward-looking information. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include without limitation the completion of planned expenditures, the ability to complete exploration programmes on schedule and the success of exploration programmes. Readers are cautioned not to place undue reliance on the forward-looking information, which speak only as of the date of this news release.

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Altus Strategies Plc

ReleaseID: 542825