Abitibi Royalties Announces Annual General Meeting Results
Val-d’Or, Québec, June 13, 2017 – Abitibi Royalties Inc. (RZZ-TSX-V: “Abitibi Royalties” or the “Company”) announces the results of its annual general meeting of shareholders held in Montréal, Québec on June 12, 2017.
General Meeting Results
At the meeting, shareholders re-elected six incumbent directors, being Glenn J. Mullan, Ian Ball, Louis Doyle, Frank Mariage, Andrew Pepper and Dr. Jens Zinke.
Also at the meeting shareholders voted to appoint MNP LLP as the Company’s auditor.
About Abitibi Royalties
Abitibi Royalties holds a 3% NSR on the Odyssey, Jeffrey, eastern portion of the Barnat Extension and the East Malartic Mine, located inside the Malartic CHL property 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 is building a portfolio of royalties on early stage properties near producing mines. The Company owns common shares in Yamana Gold and Agnico Eagle Mines (market value), plus cash (Q1 March 31, 2017 cash balance, plus proceeds from January 20, 2017 Agnico Eagle share sale) of approximately CDN$40 million. The Company is debt free.
Golden Valley Mines Ltd. and Rob McEwen hold approximately 49.6% and 12.3% interest in Abitibi Royalties, respectively.
For additional information, please contact:
Shanda Kilborn - Director, Corporate Development
2864 chemin Sullivan
Val-d’Or, Québec J9P 0B9
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.