Gold Royalties Corporation Announces US$7M Royalty Disposition
23.12.2014 | Marketwire
CALGARY, Dec 23, 2014 - Gold Royalties Corporation (TSX VENTURE:GRO) ("Gold Royalties" or "the Corporation") is pleased to announce that it has entered into an agreement with Franco-Nevada Corp. providing for the sale of two of its gold royalty interests from within its twenty royalty portfolio, being the Eagle and Lynx gold royalties (the "Disposed Royalties"), for gross proceeds of US$7,000,000 (the "Royalty Sale")."We are pleased to work with Franco-Nevada Corp. to monetize these two specific gold royalty assets on behalf of our shareholders. We are excited by the collective potential of the other eighteen royalties owned by the Corporation and look forward to assessing new gold royalty acquisition opportunities with enhanced financial strength," stated Ryan Kalt, President and Chief Executive Officer of Gold Royalties.
Based on the most recently completed fiscal quarter, the two royalties to be disposed of were previously expected to contribute approximately 11% of the royalty revenue forecast by the Corporation for fiscal 2015.
Proceeds of the Royalty Sale will be used to extinguish the Corporation's outstanding debt in full (see concurrent news release, "Gold Royalties Corp. Announces Early Debt Settlement Agreement" dated December 23, 2014), with the additional surplus proceeds being contributed to treasury.
The Royalty Sale is subject to certain closing documents and regulatory approval as needed.
About Gold Royalties Corporation
Gold Royalties Corp. is a publicly traded, growth-orientated gold royalty business that acquires and holds gold royalty assets for investment purposes. For more information, please visit www.GoldRoyalties.ca.
Forward-Looking Statements: This news release contains forward-looking statements. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently expected or forecast in such statements.
Contact
Gold Royalties Corp.
Ryan Kalt, M.B.A., LL.M., President and Chief Executive Officer
1-403-410-3815
info@goldroyalties.ca
www.GoldRoyalties.ca