TSXV: CAA
VANCOUVER, Aug. 10, 2011 /PRNewswire/ - The Board of
Directors of Callinan Royalties Corporation declared on
August 09, 2011 that the company will
pay an inaugural quarterly dividend of two
cents per common share on September
15, 2011, to the holders of the company's outstanding common
shares as of the close of business on the record date of
September 1, 2011.
This Board of Directors has approved this initial dividend in
recognition of the strong financial condition of the Callinan
Royalties.
Key dates with respect to the dividend
Common shares trade on the TSX Venture Exchange on an ex
dividend basis: September 1, 2011
Record date for the dividend: September
1, 2011
Common share dividend payment date: September 15, 2011
The dates set out above are based on the directors' current
expectations and may be subject to change. If any of the dates
should change, the revised dates will be notified by press release
and will be available on the company website.
On Behalf of the Board of Directors,
Roland Butler
Roland Butler, CEO
About Callinan
Callinan Royalties Corporation is a mineral
royalty company based in Canada. Its principal business
activities centre on acquiring and creating a portfolio of mineral
royalties while diligently managing its royalty interests and
investments.
The Corporation currently has two producing
royalties. Callinan holds a 6 2/3 % net profits interest royalty
and a $0.25 per ton royalty on lands
that include the 777 Mine owned by Hudbay Minerals Inc. located at
Flin Flon, Manitoba as well as the
adjacent 777 North Mine scheduled for production in
2012. Callinan also holds the War Baby property (777
Deeps) and an associated royalty option located in proximity to the
777 Mine.
Callinan is a Tier 1 company listed on the TSXV
under the symbol CAA. The Corporation has a strong financial
position with no debt, approximately $26
million in cash and 49,009,000 shares outstanding.
For more information, please visit
www.callinan.com.
Cautionary Statement on Forward-Looking
Information
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 release.
Certain of the information presented in this News Release may
constitute "forward-looking statements" or "forward-looking
information" within the meaning of Canadian securities legislation
(together referred to as "forward-looking statements"). . The
forward-looking statements are subject to risks, uncertainties and
other factors that may cause actual results to be materially
different from those expressed or implied by such forward-looking
statements, including any delays in the receipt of consents or
approvals. Although Callinan Royalties has attempted to identify
important factors that could cause actual actions, events or
results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that such statements will prove
to be accurate as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements contained in this News Release and in any document
referred to in this News Release. Forward-looking statements are
made based on management's beliefs, estimates and opinions on the
date the statements are made and Callinan Royalties undertakes no
obligation to update forward-looking statements if these beliefs,
estimates and opinions or other circumstances should change, except
as required by applicable law.
SOURCE Callinan Royalties Corporation