Abitibi Royalties Announces Annual General & Special Meeting Results

Ian Ball Promoted To CEO

Val-d’Or, Québec, June 26, 2015 – Abitibi Royalties Inc. (RZZ-TSX-V: “Abitibi Royalties” or the “Company”) announces the results of its annual general and special meeting of shareholders held in Montréal, Québec on June 25, 2015. In addition, the Company has promoted Ian Ball to Chief Executive Officer and President. Glenn Mullan, Company founder and former Chief Executive Officer, will continue as non-executive Chairman. 

General and Special Meeting Results

Voting results for the re-election of directors of Abitibi Royalties are as follows:

Nominee For Withheld Percentage Percentage Withheld
Ian J. Ball 7,121,517 31,580 99.56% 0.44%
Glenn J. Mullan 7,131,517 21,580 99.70% 0.30%
Joseph Groia 7,129,617 23,480 99.67% 0.33%
Andrew T. Pepper 7,119,617 33,480 99.53% 0.47%
Dr. C. Jens Zinke 7,122,077 31,020 99.57% 0.43%

 

Voting results for the reappointment of the Company’s auditor, Raymond Chabot Grant Thornton LLP are as follows:

For Withheld Percentage Percentage Withheld
7,158,797 780 99.99% 0.01%

 

Voting results by disinterested shareholders to adopt and implement the 2015 Restricted Share Unit Plan (the “RSU Plan”) are as follows:

For Against Percentage Percentage Against
6,511,396 214,804 96.81% 3.19%

 

The Company’s Board has approved the RSU Plan. The RSU Plan implementation is subject to final acceptance by the TSX Venture Exchange, which was conditionally approved subject to receipt of shareholder approval.

Following the shareholder meeting, the Board reconstituted its Committees and appointed officers for the ensuing year.  Ian Ball was reappointed as President and also assumes responsibilities as Abitibi Royalties’ Chief Executive Officer, taking over from Glenn Mullan.  Mr. Mullan now serves as non-executive Chairman and Daniel Poisson was reappointed as Chief Financial Officer and Corporate Secretary.

About Abitibi Royalties Inc.
Abitibi Royalties holds a 3% NSR on the Odyssey North discovery, Jeffrey Zone and the eastern portion of the Barnat Extension and a 2% NSR on portions of the Gouldie and Charlie zones all at the Canadian Malartic mine near Val-d’Or, Québec. In addition, the Company holds 100% title to the Luc Bourdon and Bourdon West Prospects in the Ring of Fire, Ontario.  The Company owns 3,549,695 shares of Yamana Gold and 459,197 shares of Agnico Eagle Mines. 

Golden Valley Mines Ltd. and Rob McEwen hold approximately 53.3% and 8.7% interest in Abitibi Royalties, respectively. 

For additional information, please contact:

Ian J. Ball
President & CEO
1 King Street West, Suite 4202
Toronto, Ontario M5H 1A1
Tel.: 416-346-4680
Email: ian.ball@abitibiroyalties.com

Forward Looking Statements:

This news release contains certain statements that may be deemed “forward-looking statements”.  Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur.  Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or realities may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made.  Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.    

                                                                                               
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.