TORONTO, May 28, 2020 /CNW/ - RNC Minerals (TSX: RNX)
("RNC" or the "Company") is pleased to announce Institutional
Shareholder Services ("ISS") has recommended that RNC shareholders
vote FOR all proposals that are outlined in RNC's Notice and
Information Circular ("Circular") dated May
8, 2020 prepared in respect of the annual and special
meeting of RNC shareholders scheduled for June 11, 2020 at 10:00
a.m. (Toronto time).
ISS is a prominent, third party proxy advisory firm who, among
other services, provides proxy voting recommendations to pension
funds, investment managers, mutual funds and other institutional
shareholders.
RNC previously announced that Glass Lewis, a leading independent
third party proxy advisory firm, recommended that RNC
shareholders vote FOR all proposals that are outlined in RNC's
Circular (see RNC news release dated May 22, 2020).
In order to mitigate risks to the health and safety of our
shareholders, employees and other stakeholders associated with the
COVID-19 pandemic, this shareholders meeting will be held in a
virtual format only and conducted via live webcast. Shareholders
may attend and participate in the meeting via such webcast. RNC
shareholders may also vote their shares by proxy and will have
until 10:00 a.m. (Eastern time)
June 9, 2020 to do so.
RNC encourages shareholders to read the meeting materials in
detail. Copies of the meeting materials, which include instructions
as to how to attend the webcast, are available under Royal Nickel
Corporation's profile on SEDAR at www.sedar.com.
RNC shareholders who have questions or require assistance in
order to vote their shares, can contact the Proxy Solicitation
Agent, Gryphon Advisors Inc.
Gryphon Advisors Inc.
North American Toll Free: 1-833-292-5847
Calls Outside North America: 1-416-661-6592
Email: inquiries@gryphonadvisors.ca
About RNC Minerals
RNC is focused on growing gold production and reducing costs at
its integrated Beta Hunt Gold Mine and Higginsville Gold Operations
("HGO") in Western Australia. The
Higginsville treatment facility is a low-cost 1.4 Mtpa processing
plant which is fed at capacity from RNC's underground Beta Hunt
mine and open pit Higginsville mine. At Beta Hunt, a robust gold
mineral resource and reserve is hosted in multiple gold shears,
with gold intersections along a 4 km strike length remaining open
in multiple directions. HGO has a substantial historical gold
resource and highly prospective land package totaling approximately
1,800 square kilometers. In addition, RNC has a 28% interest in a
nickel joint venture that owns the Dumont Nickel-Cobalt Project
located in the Abitibi region of Quebec. Dumont contains the second largest
nickel reserve and ninth largest cobalt reserve in the world. RNC
has a strong Board and management team focused on delivering
shareholder value. RNC's common shares trade on the TSX under the
symbol RNX. RNC shares also trade on the OTCQX market under the
symbol RNKLF.
Cautionary Statement Concerning Forward-Looking
Statements
This news release contains "forward-looking information"
including without limitation statements relating to the liquidity
and capital resources of RNC, production guidance and the potential
of the Beta Hunt Mine, Higginsville Gold Operation and Dumont
Nickel Project.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of RNC to be materially different from
any future results, performance or achievements expressed or
implied by the forward-looking statements. Factors that could
affect the outcome include, among others: future prices and the
supply of metals; the results of drilling; inability to raise the
money necessary to incur the expenditures required to retain and
advance the properties; environmental liabilities (known and
unknown); general business, economic, competitive, political and
social uncertainties; results of exploration programs; accidents,
labour disputes and other risks of the mining industry; political
instability, terrorism, insurrection or war; or delays in obtaining
governmental approvals, projected cash operating costs, failure to
obtain regulatory or shareholder approvals. For a more detailed
discussion of such risks and other factors that could cause actual
results to differ materially from those expressed or implied by
such forward-looking statements, refer to RNC's filings with
Canadian securities regulators, including the most recent Annual
Information Form, available on SEDAR at www.sedar.com.
Although RNC has attempted to identify important factors that
could cause actual actions, events or results to differ materially
from those described in forward-looking statements, there may be
other factors that cause actions, events or results to differ from
those anticipated, estimated or intended. Forward-looking
statements contained herein are made as of the date of this news
release and RNC disclaims any obligation to update any
forward-looking statements, whether as a result of new information,
future events or results or otherwise, except as required by
applicable securities laws.
Cautionary Statement Regarding the Higginsville Mining
Operations
A production decision at the Higginsville gold
operations was made by previous operators of the mine, prior to the
completion of the acquisition of the Higginsville gold operations
by RNC and RNC made a decision to continue production subsequent to
the acquisition. This decision by RNC to continue production and,
to the knowledge of RNC, the prior production decision were not
based on a feasibility study of mineral reserves, demonstrating
economic and technical viability, and, as a result, there may be an
increased uncertainty of achieving any particular level of recovery
of minerals or the cost of such recovery, which include increased
risks associated with developing a commercially mineable deposit.
Historically, such projects have a much higher risk of economic and
technical failure. There is no guarantee that anticipated
production costs will be achieved. Failure to achieve the
anticipated production costs would have a material adverse impact
on the Corporation's cash flow and future profitability. Readers
are cautioned that there is increased uncertainty and higher risk
of economic and technical failure associated with such production
decisions.
SOURCE RNC Minerals