Labrador Iron Ore Royalty Corporation ("LIORC") is a Canada corporation resulting from the conversion of the Labrador Iron Ore Royalty Income Fund (the "Fund") under an Arrangement effective on July 1, 2010. LIORC is also the successor by amalgamation under the Arrangement of Labrador Mining Company Limited, formerly a wholly-owned subsidiary of the Fund. Under the Arrangement, the Fund distributed $248 million of subordinated notes to its unitholders and the unitholders exchanged their units of the Fund for common shares of LIORC. From July 1, 2010, the common shares of LIORC and the subordinated notes have traded together as stapled units on The Toronto Stock Exchange under the symbol LIF.UN.