Trading Symbol: RRO - TSX-V
Shares Outstanding: 73,681,909
HALIFAX, June 20 /CNW/ - Royal Roads Corp. (RRO-TSX-V) ("Royal Roads" or
the "Company") is pleased to announce its graduation to Tier 1 Issuer status
on the TSX Venture Exchange (the "Exchange"), effective June 23, 2008.
As stated in the Exchange's Policy 2.1, "Tier 1 is the Exchange's premier
tier and is reserved for the Exchange's most advanced Issuers with the most
significant financial resources. Tier 1 Issuers benefit from decreased filing
requirements and improved service standards." Tier 1 Issuer status will permit
Royal Roads to take advantage of a more favourable regulatory environment and
access further financing mechanisms. The Company's trading symbol will remain
About Royal Roads
Royal Roads is a resource company based in Halifax, Nova Scotia, Canada
and is focused on exploring and developing base metal properties in central
Newfoundland and Labrador, Canada. Royal Roads and its 26.39% owned
subsidiary, Buchans River Ltd., together control a total of 33,700 hectares
within central Newfoundland and Labrador's Victoria Lake and Buchans mining
camps, including the historic Buchans mine (owned by Buchans River) and the
Daniels Pond deposit (owned by Royal Roads). Royal Roads is 44.40% controlled
by Acadian Mining Corporation, a Halifax based resource company developing
gold and base metal properties, including the Scotia Mine (lead and zinc) in
Royal Roads and Buchans River recently signed an Arrangement Agreement
whereby they agreed to combine the two companies by way of a statutory plan of
arrangement, subject to receipt of all necessary shareholder, court and
regulatory approvals. See the joint news release issued on May 30, 2008.
Forward Looking Statements
Certain information regarding Royal Roads contained herein may constitute
forward-looking statements within the meaning of applicable securities laws.
Forward-looking statements may include estimates, plans, expectations,
opinions, forecasts, projections, guidance or other statements that are not
statements of fact. Although Royal Roads believes that the expectations
reflected in such forward-looking statements are reasonable, it can give no
assurance that such expectations will prove to have been correct. Royal Roads
cautions that actual performance will be affected by a number of factors, many
of which are beyond the control of Royal Roads, and that future events and
results may vary substantially from what the Company currently foresees. The
forward-looking statements of Royal Roads are expressly qualified in their
entirety by this cautionary statement.
For additional information on the Company's properties and activities,
please visit our web site at http://www.royalroadscorp.ca/.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.
For further information:
For further information: Warren G. MacLeod, President & CEO; John C.
Rawding, CA, CFO, (902) 444-3637