TSXV: CAA
VANCOUVER, Dec. 12, 2014 /CNW/ - Callinan Royalties
Corporation ("Callinan," the 'Company') (TSXV: CAA) today announces
that the Toronto Stock Exchange ("TSX") has granted conditional
approval to Callinan for listing of its common shares on the TSX
subject to compliance with customary conditions for listing by
March 6, 2015.
When the documentation and other compliance measures have been
submitted and approved, Callinan will make an announcement in
advance of first trading on the TSX, specifying the last day of
trading on the TSX Venture Exchange and first day of trading on the
TSX. The trading symbol will continue to be "CAA".
Graduating to the TSX has been an objective of Callinan over the
past year and recognizes the strong balance sheet and recurring
cash flow from Callinan's flagship royalties on the Hudbay 777
mines. A TSX listing confers numerous advantages, including broader
investor reach and eligibility for inclusion in a number of indices
and related Exchange Traded Products.
About Callinan Royalties
Callinan Royalties Corporation is one of the oldest public listings
in Canada and one of the first
contributors to the development of the Flin Flon, Manitoba copper-zinc district.
Callinan currently holds a 6⅔% net profits interest royalty which
will be converted to a 4% NSR at January 1,
2015. In addition, there is also a production royalty of
$0.275 per metric tonne of ore milled
on lands that include the producing 777 Mine and 777 North Mine
operated by Hudbay Minerals Inc. which will be retained.
The Company invests its royalty income to provide alternative
financing options to mineral exploration and development companies
with attractive projects and excellent management.
Callinan is a dividend paying Tier 1 company currently listed on
the TSX Venture Exchange under the symbol CAA. The Corporation has
a strong financial position with no debt, recurring annual cash
flow from the 777 royalties and approximately 49.2 million shares
outstanding.
For more information, please visit www.callinan.com or
contact:
Glenn Brown, Interim CEO - Extension
3 or Flora Wood, Corporate Communications -- Extension
4
Callinan Royalties Corporation
1-604-424-8639
shareholder@callinan.com
Corporate Office:
770 - 475 West Georgia Street
Vancouver, BC
Canada, V6B 4M9
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