VANCOUVER, BC, Aug. 18, 2020 /CNW/ - Evrim Resources Corp.
(TSX.V: EVM) ("Evrim" or the "Company") and Renaissance Gold Inc.
(TSX-V: REN) (OTCQB: RNSGF) ("Renaissance") are pleased to announce
the completion of the previously announced merger-of-equals (the
"Transaction") in which Evrim acquired all of the outstanding
common shares of Renaissance through a share exchange transaction
pursuant to a plan of arrangement (the "Arrangement").
Concurrently with the completion of the Arrangement Evrim
changed its name to "Orogen Royalties Inc." ("Orogen"). Orogen will
begin trading on the TSX Venture Exchange under the symbol "OGN" on
August 20, 2020.
As part of the Transaction, Robert
Felder and Tim Janke, former
directors of Renaissance, have joined the Board of Directors of the
Company and Paddy Nicol and
John Thompson have resigned as
directors. Paddy Nicol remains the President and CEO of Orogen
and Robert Felder, the former CEO of
Renaissance, will take on the role of Senior Vice President of
Orogen.
Orogen's Mission and Strategy
Orogen's mission is to create and acquire precious metal
royalties using its strengths as a prospect generator as well as
its established business relationships across the mining industry.
Organic royalty generation will be driven by existing joint
ventures and alliances and through generative exploration that
leads to new opportunities to create value for Orogen's
shareholders and its exploration partners, the hallmarks of each of
Evrim and Renaissance prior to the Transaction. Strategic royalty
acquisition will be supported by Orogen's industry knowledge and
geological expertise in critical types of deposits.
Underpinning Orogen's strategic royalty focus are two
organically created cornerstone assets: (i) a 2% net smelter return
royalty ("NSR") on the Ermitaño West gold-silver deposit in
Sonora, Mexico, where production
by First Majestic Silver Corp. is slated to begin in
2021(1); and (ii) a 1% NSR on the Silicon gold project
in Nevada, U.S.A., which is being
advanced by AngloGold Ashanti S.A.
Evrim and Renaissance Shares
The common shares of the Company will commence trading on the
TSX Venture Exchange under the symbol "OGN" on August 20, 2020 to reflect the new name of the
Company.
The common shares of Renaissance have been halted and are
expected to be de-listed on or about August
18, 2020. Renaissance shareholders will receive 1.2448
common shares of Orogen for each common share of Renaissance held.
Each Renaissance warrant and option will become exercisable for
Orogen common shares, as adjusted in accordance with the exchange
ratio.
About Orogen Royalties Inc. (formerly Evrim Resources
Corp.)
Orogen Royalties Inc., formerly named Evrim Resources Corp., is
a royalty company focused on project generation for precious and
base metal properties in western North
America, building on the history of Evrim and Renaissance,
but with a renewed focus on organic royalty creation and royalty
acquisition. Orogen's royalty portfolio includes a 2% NSR on the
Ermitaño West gold-silver deposit in Sonora, Mexico and a 1% NSR on the Silicon
gold project in Nevada, U.S.A. The
Company is well-financed with several projects under active joint
ventures and alliances.
On Behalf of the Board
OROGEN ROYALTIES INC.
Paddy Nicol
President and CEO
To find out more about Orogen, please contact Paddy Nicol, President and Chief Executive
Officer, at 604-248-8648, or Liliana
Wong, Manager of Marketing and Investor Relations, at
604-248-8648. Visit our website at www.orogenroyalties.com.
(1)
https://www.firstmajestic.com/_resources/financials/FSMDAQ220.pdf
Forward Looking Information
This news release includes certain statements that may be deemed
"forward looking statements". All statements in this presentation,
other than statements of historical facts, that address events or
developments that Orogen expects to occur, are forward looking
statements. Forward looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words "expects", "plans", "anticipates", "believes", "intends",
"estimates", "projects", "potential" and similar expressions, or
that events or conditions "will", "would", "may", "could" or
"should" occur.
Forward looking information relates to statements concerning
Orogen's future outlook and anticipated events or results, as well
as Orogen's management expectations with respect to Transaction.
This document also contains forward-looking statements regarding
the anticipated start date of trading for common shares of Orogen
under the symbol "OGN" and the de-listing of the common shares of
Renaissance Gold Inc. Forward-looking statements in this document
are based on certain key expectations and assumptions made by
Orogen, including expectations and assumptions concerning the
receipt, in a timely manner, of regulatory and stock exchange
approvals in respect of the Transaction.
Although Orogen believes the expectations expressed in such
forward looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward looking
statements. Factors that could cause the actual results to differ
materially from those in forward looking statements include market
prices, exploitation and exploration successes, and continued
availability of capital and financing, and general economic, market
or business conditions. Furthermore, the extent to which COVID-19
may impact Orogen's business will depend on future developments
such as the geographic spread of the disease, the duration of the
outbreak, travel restrictions, physical distancing, business
closures or business disruptions, and the effectiveness of actions
taken in Canada and other
countries to contain and treat the disease. Although it is not
possible to reliably estimate the length or severity of these
developments and their financial impact as of the date of approval
of these condensed interim consolidated financial statements,
continuation of the prevailing conditions could have a significant
adverse impact on Orogen's financial position and results of
operations for future periods.
Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments
may differ materially from those projected in the forward looking
statements. Forward looking statements are based on the beliefs,
estimates and opinions of Orogen's management on the date the
statements are made. Except as required by securities laws, Orogen
undertakes no obligation to update these forward looking statements
in the event that management's beliefs, estimates or opinions, or
other factors, should change.
Neither 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.
SOURCE Evrim Resources Corp.