RGT should approach CAA as a potential sutor...JMHOCallinan acquires 3.5 million Avrupa units
2013-10-15 17:44 ET - News Release
Also News Release (C-AVU) Avrupa Minerals Ltd
Mr. Roland Butler of Callinan reports
CALLINAN ROYALTIES AND AVRUPA MINERALS COMPLETE FINANCING
Callinan Royalties Corp. has acquired 3.5 million units of Avrupa Minerals Ltd. at a price of 10 cents per unit pursuant to a private placement. Each unit consists of one common share of Avrupa and one share purchase warrant, with each warrant exercisable to purchase one further common share of Avrupa at a price of 15 cents until Oct. 15, 2016.
The shares acquired by Callinan represent approximately 9.06 per cent of the currently issued and outstanding common shares of Avrupa, on an undiluted basis and without giving effect to the exercise of the warrants. If the warrants are exercised, Callinan will acquire an additional 3.5 million shares and will then hold seven million shares, representing 16.65 per cent of the issued and outstanding common shares of Avrupa on an undiluted basis and after giving effect to the exercise of the warrants.
Callinan has acquired the units for investment purposes and may increase or decrease its ownership interest in Avrupa depending on, among other factors, market conditions. Callinan has sole ownership and control of the shares and does not have any direct or indirect interest in any other securities of Avrupa. Callinan has no intention at this time to acquire ownership of or control over additional securities of Avrupa. An early warning report, as required under National Instrument 62-103, has been filed by the company on Avrupa's SEDAR profile.
Callinan entered into an exploration alliance agreement with Avrupa on Oct. 4, 2013. The purpose of the agreement is to finance prospect generation activities for Avrupa to attract joint venture partners to projects, while allowing Callinan to generate and acquire royalties. Callinan is supporting the prospect generation business model as a means to create royalties in prospective areas through agreements with companies such as Avrupa that are established prospect generators and have demonstrated expertise in their chosen jurisdictions.
We seek Safe Harbor.
© 2013 Canjex Publishing Ltd. All rights reserved.
Callinan earns $8.85-million in fiscal 2013
2013-09-26 21:09 ET - News Release
Mr. Roland Butler reports
CALLINAN ROYALTIES RELEASES Q4 AND YEAR END FINANCIAL STATEMENTS
Callinan Royalties Corp. has released its financial results for the fourth fiscal quarter and for the fiscal year ended June 30, 2013. The audited financial statements and management's discussion and analysis are available on Callinan's website and on SEDAR.
The company's net income for the year ended June 30, 2013, is $8,851,153 compared with $20,108,190 for fiscal 2012. Income per share for basic and fully diluted is 18 cents compared with 41 cents for basic and 40 cents for fully diluted in fiscal 2012.
A summary of the financial information is included in the attached table.
FINANCIAL HIGHLIGHTS
Three months ended Three months ended Twelve months ended Twelve months ended
June 30, 2013 June 30, 2012 June 30, 2013 June 30, 2012
Income $3.51-million $5.16-million $16.80-million $23.83-million
Net income $1.62-million $2.70-million $8.85-million $20.11-million
Net income/share, fully diluted $0.03 $0.05 $0.18 $0.40
The following are key highlights for the fiscal year:
The annual royalty income for the year ended June 30, 2013, was $15.7-million compared with $23.5-million last year. The royalty income was impacted by lower commodity prices over the period, as well as the lower grades and higher mining and processing costs over the period. A total of $3.9-million was paid out in dividends to shareholders.
Cash on hand at June 30, 2013, was $24,883,295 (compared with $29,464,334 at June 30, 2012).
Five transactions were completed, and two exploration alliances were created.
The 2012-2013 annual information form has been prepared and is available for viewing on SEDAR and the Callinan website.
Roland Butler, chief executive officer, commented: "Though annual royalty income is lower due to several coinciding factors, Callinan remains a profitable, dividend-paying royalty company with no debt and a healthy treasury. The company is in strong financial condition as it pursues attractive investment opportunities that have become available in the current market."
We seek Safe Harbor.
© 2013 Canjex Publishing Ltd. All rights reserved.