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Labrador Iron Ore Royalty Corp T.LIF

Alternate Symbol(s):  LIFZF

Labrador Iron Ore Royalty Corporation is a Canada-based investment company. The Company holds interests in the Iron Ore Company of Canada (IOC), which is a North American producer and exporter of iron ore pellets and high-grade concentrate. The Company, through its wholly owned subsidiary, Hollinger Hanna Limited (Hollinger-Hanna), holds an approximately 15.10% equity interest in IOC. It holds an approximately 15.10% equity interest in IOC and receives approximately 7% gross overriding royalty and a 10% per ton commission on all iron ore products produced, sold, and shipped by IOC. IOC operates mine, concentrator and pellet plant at Labrador City, Newfoundland, and Labrador. The IOC mines and produces iron ore pellets and concentrates at its facilities in Labrador City, Newfoundland, and Labrador. The Company holds mining leases and mining licenses covering approximately 18,200 hectares of land near Labrador City.


TSX:LIF - Post by User

Post by ElanS2on May 28, 2015 9:29pm
105 Views
Post# 23776286

Votes for and against

Votes for and against

For:          32,069,282   73.32%
Against:   11,670,067   26.68%

It didn't pass but not by much. If the board members remain the same we can probably expect this to come back.

From SEDAR :
5. Amendment to Business Restrictions - Investment in Metal or Mineral Royalties

On a vote by ballot, a resolution in the form attached as Appendix D to the Circular that would have authorized an amendment to the articles of LIORC to give LIORC the flexibility to pursue attractive opportunities by acquiring, owning, holding, possessing, retaining and managing, directly or indirectly, interests in metal or mineral royalties or in entities whose primary source of revenue is metal or mineral royalties without prior shareholder approval and to issue up to 20% of the outstanding common shares (12.8 million) of LIORC in the aggregate as consideration for, or for cash to finance, an acquisition permitted under the restrictions on business LIORC may carryon as set forth in its articles, was not approved.

Vote For % Votes :For Votes Against 32,069,282 73.32 11,670,067

Dated May 28, 2015.
LABRADOR IRON ORE ROYALTY CORPORATION

James C. Mcf.artney
Executive Vice President and Secretary

MT DOCS 14535527

-1 26.68 


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