TSXV: CAA
VANCOUVER, March 5, 2012 /PRNewswire/ - The board of
directors of Callinan Royalties Corporation, in accordance with its
regular dividend policy, has declared a quarterly cash dividend for
the second fiscal quarter on its common shares of two cents per common share to all shareholders of
record at the close of business on March 31,
2012, with the ex-dividend date being March 28, 2011. It is expected that the dividend
will be paid on or about April 15,
2012.
It is anticipated that future quarterly dividends will be
payable approximately 15 days following each fiscal quarter. The
declaration, timing, and payment of future dividends will largely
depend on the Company's financial results as well as other factors.
Dividends paid by Callinan Royalties Corporation are eligible
dividends for Canadian income tax purposes unless otherwise
stated.
On Behalf of the Board of Directors,
Roland Butler
Roland Butler, CEO
About Callinan
Callinan Royalties Corporation is a mineral royalty company
based in Canada. Its
principal business activities centre on acquiring and creating a
portfolio of mineral royalties while diligently managing its
royalty interests and investments.
The Corporation currently has two producing royalties. Callinan
holds a 6⅔% net profits interest royalty and another $0.25 per ton royalty on lands that include the
777 Mine owned by HudBay Minerals Inc. located at Flin Flon, Manitoba, Canada as well as the
adjacent 777 North Mine scheduled for production in
2012. Callinan also holds the 777 Deeps (War Baby)
property and an associated royalty option located on that property,
which is located adjacent to the 777 Mine.
Callinan is a Tier 1 company listed on the TSXV under the symbol
CAA. The Corporation has a strong financial position with no
debt, approximately $29 million in
cash and approximately 48.3 million shares outstanding.
For more information, please visit www.callinan.com.
Cautionary Statement on Forward-Looking Information
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. Certain of the
information presented in this News Release may constitute
"forward-looking statements" or "forward-looking information"
within the meaning of Canadian securities legislation (together
referred to as "forward-looking statements"). The forward-looking
statements are subject to risks, uncertainties and other factors
that may cause actual results to be materially different from those
expressed or implied by such forward-looking statements, including
any delays in the receipt of consents or approvals. Although
Callinan Royalties 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 not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements contained in this News
Release and in any document referred to in this News Release.
Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date the statements are made and
Callinan Royalties undertakes no obligation to update
forward-looking statements if these beliefs, estimates and opinions
or other circumstances should change, except as required by
applicable law.
SOURCE Callinan Royalties Corporation