VANCOUVER, BC, March 25, 2021 /CNW/ - (TSXV:
OGN) Orogen Royalties Inc. ("Orogen" or the "Company")
is pleased to announce the appointment of Mr. Roland Butler to the Company's Board of
Directors.
Mr. Butler has worked in royalty and prospect generation for
over twenty years. He is a co-founder of Altius Minerals
Corporation (TSX: ALS) where he served as Vice President and
Director from listing in 1997 to 2010. Roland then served as
CEO of Callinan Royalties Corporation from 2011 to 2014, which
structured the funding of numerous early-stage exploration
alliances resulting in the generation of mineral projects,
including the Silicon gold project (now owned by AngloGold Ashanti
NA), where Orogen holds a 1% net smelter return royalty.
"Orogen's objective is to build a royalty business based on the
Company's core strengths in mineral exploration and industry
experience. We hold a high-quality portfolio of royalties on
early to advance stage projects with significant growth and
near-term production potential. Orogen also has several
active joint ventures in Canada,
USA, and Mexico that are structured for royalty
creation", commented Orogen's CEO Paddy
Nicol. "Mr. Butler's depth of experience enhances the
board's skillset that will help Orogen achieve its goals."
As part of Mr. Butler's compensation, the Board has agreed to
grant 500,000 incentive stock at a price of $0.33 for a period of five years. The
foregoing is subject to regulatory approval.
Orogen also announces that pursuant to its news release on
February 10, 2021, the Company has
decided to cancel the grant of nine million incentive stock options
with a price of $0.35 per share for a
period of ten years.
About Orogen Royalties Inc.
Orogen Royalties Inc. is engaged in project generation for
precious and base metal discoveries in western North America with a focus on organic royalty
creation and royalty acquisitions. Orogen's royalty portfolio
includes the Ermitaño West gold deposit in Sonora, Mexico (2% NSR) being developed by
First Majestic Silver Corp. and the Silicon gold project (1% NSR)
in Nevada, USA, being advanced by
AngloGold Ashanti N.A. The Company is well financed with several
projects actively being developed by joint venture partners.
On Behalf of the Board
OROGEN ROYALTIES
INC.
Paddy Nicol
President & CEO
Visit our website at
www.orogenroyalties.com.
Orogen Royalties Inc.
1201 - 510 West Hastings Street
Vancouver, BC
Canada V6B 1L8
info@orogenroyalties.com
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
Royalties Inc. (the "Company") expect 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 the
Company's future outlook and anticipated events or results, as well
as the Company's management expectations with respect to the
proposed business combination (the "Transaction"). This document
also contains forward-looking statements regarding the anticipated
completion of the Transaction and timing thereof. Forward-looking
statements in this document are based on certain key expectations
and assumptions made by the Company, including expectations and
assumptions concerning the receipt, in a timely manner, of
regulatory and stock exchange approvals in respect of the
Transaction.
Although the Company believe 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 the Company'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 the Company'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 the Company's management on the date the
statements are made. Except as required by 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.
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 Orogen Royalties Inc.
