TSXV: NOVR
OTCQB:
NOVRF
VANCOUVER, BC, May 17, 2023
/CNW/ - Nova Royalty Corp. ("Nova" or the
"Company") a copper and nickel focused royalty company,
announces that the Company has engaged PI Financial as its
financial advisor to commence a process to explore, review and
evaluate all options that may be available to the Company to
maximize shareholder value.
Brett Heath, Chairman of Nova,
comments "Nova holds 22 royalties, five of which are on the top ten
largest open pit copper development assets in the Americas. These
royalties are on multi-decade deposits being advanced by some of
the world's largest mining companies." Mr. Heath continued, "We
believe copper has seen a significant amount of increased interest
as a strategic metal and given the strength of Nova's portfolio we
are confident that this process will help surface value for
shareholders."
Nova will continue to pursue its normal business of building and
strengthening its portfolio by acquiring high-quality copper and
nickel royalties. The Company currently has C$15.5 million undrawn on its convertible loan
facility from Beedie Investments Limited for making additional
investments.
The Company cautions that there are no assurances that the
evaluation of potential options to maximize shareholder value will
result in the approval or completion of any specific transaction or
outcome. The Company does not intend to comment further unless and
until the Board of Directors approves a specific transaction,
concludes its review, or determines that further disclosure is
appropriate or required.
Changes to Board of
Directors
Nova has accepted the resignation of Douglas Silver, Johanna
Fipke, and Andrew Greville.
The Company thanks them for their service and wishes them the best
in their future endeavors.
About Nova
Nova Royalty Corp. is a copper and nickel focused royalty
company. Nova has assembled a portfolio of royalties on a
significant proportion of the next generation of major copper
projects located in 1st-tier jurisdictions, providing investors
exposure to some of the most critical resource assets for the clean
energy transition. These projects are being advanced by the world's
premier mining companies, which include First Quantum, Lundin
Mining, Hudbay, Anglo American and
Glencore, among others. The Company is headquartered in
Vancouver, British Columbia and is
listed on the TSX Venture Exchange under the trading symbol "NOVR"
and on the US OTCQB under the trading symbol "NOVRF".
ON BEHALF OF NOVA ROYALTY CORP.,
(signed) "Hashim Ahmed"
Interim Chief Executive Officer
Website: www.novaroyalty.com
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.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
securities legislation. The forward-looking statements herein are
made as of the date of this press release only, and the Company
does not assume any obligation to update or revise them to reflect
new information, estimates or opinions, future events or results or
otherwise, except as required by applicable law. Often, but not
always, forward-looking statements can be identified by the use of
words such as "plans", "expects", "is expected", "budgets",
"scheduled", "estimates", "forecasts", "predicts", "projects",
"intends", "targets", "aims", "anticipates" or "believes" or
variations (including negative variations) of such words and
phrases or may be identified by statements to the effect that
certain actions "may", "could", "should", "would", "might" or
"will" be taken, occur or be achieved. Forward-looking statements
and information include, but are not limited to, statements with
respect to future events or future performance of Nova; the
existence of future business opportunities; exploring, reviewing
and evaluating all opportunities; the valuation of the Company's
royalty interests; the statements regarding the future of the
copper industry; the future royalty and stream payments; the level
of interest in the Company's royalties; the continued pursuit by
the Company of high quality copper and nickel royalties during the
engagement of PI Financial; the access to and amounts available
pursuant to the convertible loan facility with Beedie Capital;
and other financial or economic measures; disclosure regarding any
payments to be paid to Nova by property owners or operators of
mining projects pursuant to net smelter returns and other royalty
agreements; and future expectations regarding royalties and
streams of Nova.
Such forward-looking statements and information are subject
to various known and unknown risks and uncertainties, many of which
are beyond the ability of Nova to control or predict, that may
cause Nova's actual results, performance or achievements to be
materially different from those expressed or implied thereby, and
are developed based on assumptions about such risks, uncertainties
and other factors set out herein, including, but not limited to,
risks associated with the impact of general business and economic
conditions; the absence of control over mining operations from
which Nova will purchase precious metals or from which it will
receive stream or royalty payments and risks related to those
mining operations, including risks related to international
operations, government and environmental regulation, delays in mine
development, construction and operations, actual results of mining
and current exploration activities, conclusions of economic
evaluations and changes in project parameters as plans are refined;
problems related to the ability to market precious metals or other
metals; industry conditions, including commodity price
fluctuations, interest and exchange rate fluctuations;
interpretation by government entities of tax laws or the
implementation of new tax laws; regulatory, political or economic
developments in any of the countries where properties in which Nova
holds a royalty, stream or other interest are located or through
which they are held; risks related to the operators of the
properties in which Nova holds a royalty or stream or other
interest, including changes in the ownership and control of such
operators; risks related to global pandemics, including the novel
coronavirus (COVID-19) global health pandemic, and the spread of
other viruses or pathogens; influence of macroeconomic
developments; business opportunities that become available to, or
are pursued by Nova; reduced access to debt and equity capital;
litigation; title, permit or license disputes related to interests
on any of the properties in which Nova holds a royalty, stream or
other interest; the volatility of the stock market; competition;
future sales or issuances of debt or equity securities; use of
proceeds; dividend policy and future payment of dividends;
liquidity; market for securities; enforcement of civil judgments;
and the risk factors set out under the heading "Risk Factors" in
the Company's annual information form dated March 23, 2023 and other filings available for
review on the Company's profile at www.sedar.com.
Such forward-looking information represents management's best
judgment based on information currently available. Except as
required by applicable securities laws, 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. No forward-looking statement can be guaranteed, and
actual future results may vary materially. Accordingly, readers are
advised not to place undue reliance on forward-looking statements
or information.
SOURCE Nova Royalty Corp.