Abitibi Royalties Launches "The Royalty Search"
VAL-D'OR, QUEBEC--(Marketwired - Jun 9, 2015) - Abitibi Royalties Inc. (TSX VENTURE:RZZ) ("Abitibi Royalties" or the "Company") is pleased to announce the official launch of the Abitibi Royalties Search. "The Royalty Search" (www.abitibiroyalties.com) is an easy to use website that allows mining companies and prospectors a quick way of accessing capital in this difficult commodities market.
What We Are Offering: Abitibi Royalties is offering to pay, for a specified period of time, the claim fees/taxes related to:
- Existing mineral properties or
- Staking of new mineral properties
In return for paying these fees, Abitibi Royalties would be granted a net smelter royalty ("NSR") on the property. Many claim holders are having a difficult time paying the fees associated with their property and face losing the mineral claims or they do not have the capital needed to stake new properties.
What We Are Looking For: Our preference is for mineral properties that are in relatively close proximity to an operating mine (~50km or less) within the Americas. Our due diligence will focus on the geology and evidence of mineralization through previous exploration.
Why Partner With Us: Our due diligence process is VERY fast. We will try and deliver a Yes or No answer within 48 hours. No administrative holdups. You will be dealing with the decision makers directly. Abitibi Royalties has a strong balance sheet, no debt and is generating positive cash flow.
The Process:
- Visit www.abitibiroyalties.com and click the "Royalties Search" button.
- Simply fill out the required fields that include basic information about the property. The site allows you to upload files that will help us during the evaluation process.
- Abitibi Royalties will try to deliver a Yes or No answer within 48 hours. If the answer is Yes, we will prepare a binding Letter of Intent ("LOI") that indicates Abitibi Royalties will pay the claim fees associated with your property for a period of time in exchange for an NSR. A formal agreement will follow that will be specific to the province/state where the property is located.
"In order for Abitibi Royalties to compete within the royalty sector we need to think and act differently, using our small size as a competitive advantage. We are excited about this opportunity, which we don't believe has been done before in the mining sector. We are looking forward to building numerous partnerships through The Royalty Search that we believe will be mutually beneficial," stated Ian Ball, President.
As announced on February 23, 2015 and March 20, 2015, the Company has issued 100,791 common shares to Maxit Capital LP in consideration of services during the sale of the Malartic CHL property. A total of 13,291 common shares were issued at Cdn$3.95 and 87,500 common shares were issued at Cdn$3.60.
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 and Rob McEwen hold approximately 53.3% and 8.7% interest in Abitibi Royalties, respectively.
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.
Contact
Abitibi Royalties Inc.
Glenn J. Mullan
Chairman
819-824-2808, x 204
glenn.mullan@abitibiroyalties.com
Abitibi Royalties Inc.
Ian J. Ball
President
416-346-4680
ian.ball@abitibiroyalties.com
www.abitibiroyalties.com