SIDEX and Fonds de solidarité FTQ Increase Combined Ownership
Quebec, Mar 31, 2015 AEST (ABN Newswire) - Abitibi Royalties Inc. (
CVE:RZZ) ("Abitibi Royalties" or the "Company") is pleased to announce that SIDEX, Fonds régionaux de solidarité FTQ Abitibi-Témiscamingue and the Fonds de solidarité FTQ have purchased an additional 336,900 common shares of Abitibi Royalties and now collectively own approximately 495,700 common shares or 4.6% of the Company.
"We would like to thank SIDEX, Fonds régionaux de solidarité FTQ Abitibi-Témiscamingue and the Fonds de solidarité FTQ for their continued support and confidence in the Company as Abitibi Royalties continues to grow its royalty business. We believe this is an important relationship that will benefit our shareholders as Abitibi Royalties looks to achieve its objective of becoming the 'best gold company' measured by share performance," stated Ian Ball, President.
Golden Valley Mines and Rob McEwen hold approximately 54.6% and 8.8% interest in Abitibi Royalties, respectively.
About Abitibi Royalties Inc.
Abitibi Royalties Inc. (CVE:RZZ) holds a 3% NSR on the Odyssey North discovery, Jeffrey Zone and the eastern portion of the Barnat Extension, 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 (as of September 30, 2016) of Cdn$41.8 million. The Company is debt free.
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