ABITIBI ROYALTIES: COVID-19 UPDATE
VAL-D’OR, Québec, March 25, 2020 (GLOBE NEWSWIRE) — Abitibi Royalties Inc. (RZZ-TSX-V, ATBYF-OTC-Nasdaq Intl: “Abitibi Royalties” or the “Company”) provides an update on the Company’s net smelter royalties at the Canadian Malartic Mine that is jointly operated by Agnico Eagle Mines Limited (“Agnico Eagle”) and Yamana Gold Inc. (“Yamana”) in response to the COVID-19 pandemic. As reported by the operators of the mine on March 24, 2020, the Canadian Malartic Mine will be ramped down in an orderly fashion while ensuring the safety of the employees and sustainability of the infrastructure. The Canadian Malartic Mine will be placed on care and maintenance until April 13, 2020 in accordance with the Québec provincial government-mandated restrictions to address the COVID-19 pandemic as announced by the province on March 23, 2020. Exploration activities will be suspended during that time. The operators further state that they plan to maintain a state of operational readiness in order to resume normal operations in a timely and safe manner once the restrictions are lifted.The Company is monitoring the situation and will provide further details as they become available.About Abitibi RoyaltiesAbitibi Royalties owns various royalties at the Canadian Malartic Mine near Val-d’Or Québec. In addition, the Company is building a portfolio of royalties on early stage properties near producing mines. The Company is unique among its peers due to its strong treasury, no debt, monthly dividend, share buyback program and limited number of shares (approximately 12.5 million).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.