Royal Road Minerals Announces Acquisition of Minority Interest in Colombian Subsidiary Minerales Camino Real S.A.S
Toronto, Ontario--(Newsfile Corp. - August 27, 2019) - Royal Road Minerals Limited (TSXV: RYR) ("Royal Road Minerals" or the "Company"), is pleased to announce that it has acquired the remaining 2% minority equity interest (the "Acquisition") in Minerales Camino Real S.A.S., ("RRM Colombia"), resulting in RRM Colombia becoming a wholly-owned subsidiary of the Company. RRM Colombia is a Colombian corporation, through which the Company holds various mineral exploration interests and carries on its operations in Colombia. Under the terms of the Acquisition, the Company issued 1,200,000 ordinary shares as consideration for the minority equity interest. The securities issued upon closing of the Acquisition are subject to a four month and one day hold period, pursuant to applicable securities laws.
The Acquisition was approved by the Company's shareholders at the Company's annual and special meeting of its shareholders held on August 15, 2019.
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.
This news release may contain certain information that constitutes forward-looking statements. Forward-looking statements are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate" and other similar words, or statements that certain events or conditions "may" or "will" occur and include statements regarding the expected closing date and proceeds of, and the use of proceeds from, the Offering, the intention of the key investor to invest in the Offering, and the completion of the acquisition of Northern Colombia Holdings Limited and the minority interest in its subsidiary pursuant to the Acquisition. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in financing and completing transactions, the exploration and development of mineral properties, the hiring and retention of directors and officers, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, permitting and licensing and other factors described above and in the Company's most recent annual information form under the heading "Risk Factors", which has been filed electronically by means of the Canadian Securities Administrators' website located at www.sedar.com. The Company disclaims any obligation to update or revise any forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
For further information please contact:
Dr. Tim Coughlin
President and Chief Executive Officer
USA-Canada toll free 1800 6389205
+44 (0)1534 887166
+44 (0)7797 742800
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
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