Launches "The Royalty Search"
Quebec, June 9, 2015 AEST (ABN Newswire) - Abitibi Royalties Inc. (
CVE:RZZ) 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:
1) Existing mineral properties or
2) 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:
a) Visit www.abitibiroyalties.com and click the "Royalties Search" button.
b) 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.
c) 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 an 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.
Shares for Debt
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 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.
| ||
|
