1. Altai sold 50% interest in Malartic Gold Property for $142,000. 2. Sale price is 15% above carrying value as of June 30, 2025. 3. Cash transfer received enhances liquidity for Altai's operations.
This sale provides Altai with cash that can be reinvested or used to reduce debt, similar to past successful divestitures by resource companies boosting their stock price.
The strategic move to sell non-core assets reflects a focused approach to enhance liquidity, which is crucial for market confidence in Altai’s future endeavors.
Immediate liquidity impact can influence investor sentiment positively, potentially leading to short-term price appreciation.
TORONTO, Aug. 27, 2025 (GLOBE NEWSWIRE) -- Altai Resources Inc. (TSXV:ATI) ("Altai" or the "Company") announced today that it has sold its ownership of a 50% working interest in the exploration gold property located in Malartic Township, Quebec, comprised of 6 claims (the "Malartic Gold Property" or the "Blackcliff Gold Property"), to the owner of the other 50% working interest, and the property's operator, Globex Mining Enterprises Inc., for cash consideration of $142,000 (the "Sale Price"), which has been paid by an inter-bank cash transfer to the Company. The Sale Price represents a premium of $18,289 (or approximately 15%) over the Company's carrying value of the Malartic Gold Property per the Company's most recent interim consolidated financial statements for the period ended June 30, 2025.
ABOUT THE COMPANY
Altai Resources Inc. is a Toronto, Ontario based resource company with an oil property in Alberta and a Canadian investment portfolio comprised of cash and cash equivalents. Additional information about the Company is available on SEDAR+ at www.sedarplus.ca and on the Company's website at www.altairesources.com.
For further information, please contact:
Kursat Kacira, Chairman & CEO/President
T: (647) 282-8324, E: kursatkacira@altairesources.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
