Orogen is an organic royalty generator created
from Evrim Resources and Renaissance Gold
VANCOUVER, BC, Aug. 20, 2020 /CNW/ - (TSX-V: OGN) Orogen
Royalties Inc. ("Orogen" or the "Company") is pleased to announce
the commencement of trading today on the TSX Venture Exchange under
the symbol OGN. Orogen formed from a plan of arrangement (the
"Arrangement") completed by Evrim Resources Corp. (TSX.V: EVM)
("Evrim") and Renaissance Gold Corp. (TSX.V: REN) ("Renaissance")
on August 18, 2020.
Orogen's mission is to create and acquire precious metal
royalties using its strengths as a prospect generator as well as
established business relationships across the mining
industry. Organic royalty creation will be driven by existing
joint ventures and alliances, and through generative exploration
that leads to new opportunities to create value for Orogen's
shareholders and its exploration partners – a hallmark of Evrim and
Renaissance that has existed for over a decade. Strategic
royalty acquisition will be supported by Orogen's industry
knowledge coupled with geological expertise related to projects and
critical types of deposit.
Underpinning Orogen's strategic royalty focus are two
organically created cornerstone assets: a 2% net smelter return
royalty ("NSR") on the Ermitaño West gold-silver deposit in
Sonora, Mexico where production by
First Majestic Silver Corp. is slated to begin in
2021(1), and a 1% NSR on the Silicon gold property in
the Bare Mountain district of Nevada,
USA, that is currently being explored by AngloGold Ashanti,
NA. In addition, the Company has eight early stage royalty assets
in Mexico, Nevada, and Argentina and a broad portfolio of exploration
projects in Canada, USA, and Mexico.
"Creating royalties organically through joint ventures and
alliances represents the most elegant form of royalty creation",
commented Orogen CEO, Paddy
Nicol. "Our intellectual investment into these projects
is high while our cash outlay remains modest, and exploration
success can lead to highly rewarding valuation events for our
shareholders. The business relationships that have been forged by
Evrim and Renaissance allow Orogen to be strategic and guided in
its efforts to acquire royalties from mining companies and other
entities."
Qualified Person Statement
Orogen's disclosure of technical and scientific information in
this news release has been reviewed by Dave
Groves, Vice President, Exploration for Orogen. Mr.
Groves is a Certified Professional Geologist (#11456) with the
American Institute of Professional Geologists and a Qualified
Person under the definition of National Instrument 43-101.
About Orogen Royalties
Orogen Royalties Inc. is a royalty company focused on project
generation for precious and base metal properties in western
North America building on the
history of both Evrim and Renaissance, but with a renewed focus on
organic royalty creation and royalty acquisition. Orogen's royalty
portfolio includes the Ermitaño West gold deposit in Sonora, Mexico (2% NSR) being developed by
First Majestic Silver Corp. and planned to be in production in
2021(1), and the Silicon gold project (1% NSR) in
Nevada, USA, being advanced by
AngloGold Ashanti, NA. The Company is well financed with
several project under active joint ventures and alliances.
On Behalf of the Board
OROGEN ROYALTIES
INC.
Paddy
Nicol
President &
CEO
Orogen Royalties Inc.
1201 - 510 West Hastings Street
Vancouver, BC
Canada V6B 1L8
info@orogenroyalties.com
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https://www.firstmajestic.com/_resources/financials/FSMDAQ220.pdf
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.