Canadian Royalties Closes $25 Million Financing
Montr�al, Qu�bec - October 25th, 2007 - Canadian Royalties Inc. (TSX: CZZ) announces the closing of a non brokered private placement offering of an aggregate 7,246,377 common shares at a price of $3.45 per common shares for aggregate gross proceeds of C$ 25 million with Norilsk Nickel Harjavalta Oy, a wholly owned subsidiary of MMC Norilsk Nickel (refer to news release dated October 1st, 2007). The common shares issued pursuant to the offering are subject to a hold period of four months and one day from the date of issuance of the shares. The proceeds of the offering will be used by the Company to continue the development of its Nunavik Nickel Project.
About Canadian Royalties and the Nunavik Nickel Project
Canadian Royalties has initiated the development of an independent, stand-alone nickel-copper mine on its Nunavik Nickel Project, located 20 kilometres south of Xstrata Nickel's R
aglan Mine in northern Quebec. Canadian Royalties is proceeding with permitting applications, as well as exploration for additional resources.
Canadian Royalties currently holds a 100% interest in the Ivakkak deposit, subject to a net smelter royalty ("NSR", refer to news release dated September 21, 2005). Additionally, Canadian Royalties has vested in a 70% interest in the Expo-Ungava property (which hosts the Mesamax, Mequillon and Expo deposits), where its interest shall be increased to 80% simultaneously with the creation of the joint venture. Further, Canadian Royalties holds an underlying 2% NSR on the Expo-Ungava Property.
Forward-looking Statement
This news release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Company's ability to control or predict which could cause actual events or results to differ materially from tho
se anticipated in such forward-looking statements. Such risks and uncertainties are disclosed under the heading "Risk Factors" in the Company's Amended and Restated Annual Information Form dated July 10, 2007 for the year ended December 31, 2006. Accordingly, readers should not place undue reliance on forward-looking statements.
For additional information please visit our website at www.canadianroyalties.com .
Richard R. Faucher, President and CEO
800 Ren�-L�vesque Blvd. West, Suite 1525
Montr�al, Qu�bec H3B 1X9
Tel.: (514) 879-1688
Toll free: (877) 879-1688
E-mail: richard.faucher@canadianroyalties.com
C. Jens Zinke, Vice-President Business Development
800 Ren�-L�vesque Blvd. West, Suite 1525
Montr�al, Qu�bec H3B 1X9
Tel.: (514) 879-1688
Toll free: (877) 879-1688
E-mail: jens.zinke@canadianroyalties.com
RENMARK FINANCIAL COMMUNICATIONS INC.
JASON ROY : JROY@RENMARKFINANCIAL.COM
HENRI PERRON : HPERRON@RENMARKFINANCIAL.COM
MEDIA - ADAM ROSS : AROSS@RENMARKFINANCIAL.COM
TEL. : (514) 939-3989
FAX : (514) 939-3717
WWW.RENMARKFINANCIAL.COM
|
VanEck Vectors Global Alternative Energy ETF
|
|
|
|
CODE : CZZ.TO |
|
|
|
|
| |
ProfileMarket
IndicatorsVALUE :
Projects & res.Press
releasesAnnual
reportRISK :
Asset profileContact Cpy |
Canadian Royalties is based in Canada. Canadian Royalties is listed in Canada, in Germany and in United States of America. Its market capitalisation is 37.5 millions as of today (US$ 37.4 millions, € 25.9 millions). Its stock quote reached its highest recent level on December 31, 2007 at 4.62, and its lowest recent point on April 17, 2009 at 0.15. Canadian Royalties has 47 442 200 shares outstanding. |