VAL-D'OR, QUÉBEC--(Marketwired - July 18, 2014) -
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
Abitibi Royalties Inc. (TSX VENTURE:RZZ) ("Abitibi" or the "Company") announces that it has closed a non-brokered private placement offering (previously announced July 8, 2014) pursuant to which it has issued 800,000 shares at a per share price of $2.50 for gross proceeds of $2,000,000.
Rob McEwen, the sole subscriber under the offering, now holds 951,515 common shares of Abitibi or approximately 9.28% of the Company's issued and outstanding common shares. The common shares issued under this offering are subject to a hold period until November 18, 2014.
The proceeds raised from this offering will be used by Abitibi for general corporate purposes.
About Abitibi Royalties Inc.
Abitibi Royalties holds 100% title to the Luc Bourdon and Bourdon West Prospects in Ontario and a 30% free-carried interest as well as other rights on the Malartic CHL Property near Val-d'Or, Québec. In addition, the Company holds a 2% net smelter royalty interest in one additional claim held by Canadian Malartic GP, and may acquire and generate other property and royalty interests.
Forward-Looking Statements:
This news release contains certain statements that may be deemed "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. Although the Company 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 or realities may differ materially from those in forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by law, the Company 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 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 news release.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.