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
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.
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