/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
MONTREAL, March 4 /CNW Telbec/ - Canadian Royalties Inc. (the "Company"
or "Canadian Royalties") (TSX:CZZ) is pleased to announce that it has obtained
a receipt for its preliminary short form prospectus filed with securities
regulatory authorities in each of the provinces of Canada in connection with
the offering of convertible senior unsecured debentures due March 31, 2015
(the "Debentures"). The terms of the offering, including the aggregate
principal amount, interest rate and conversion price, will be determined at
the time of pricing.
The Debentures are being offered for sale on a marketed basis through a
syndicate of underwriters led by BMO Capital Markets and including Raymond
James Ltd. and Desjardins Securities Inc.
The Company plans to use the net proceeds from the offering to pursue the
development of the Nunavik Nickel Project and for general corporate and
This press release is not an offer to sell or the solicitation of an
offer to buy the securities, nor shall there be any sale of the securities in
any jurisdiction in which such offer, solicitation or sale would be unlawful
prior to qualification or registration under the securities laws of such
jurisdiction. The securities being offered have not been, nor will they be,
registered under the United States Securities Act of 1933, as amended, and
such securities may not be offered or sold within the United States or to, or
for the account or benefit of, U.S. persons absent registration or an
applicable exemption from U.S. registration requirements.
About Canadian Royalties and the Nunavik Nickel Project
Canadian Royalties has initiated the development of an independent,
stand-alone nickel-copper mine on its Nunavik Nickel Project, located
20 kilometres south of Xstrata Nickel's Raglan Mine in northern Quebec.
Canadian Royalties is proceeding with permitting applications, as well as
exploration for additional resources.
Canadian Royalties currently holds a 100% interest in the Ivakkak
deposit, subject to a net smelter royalty ("NSR", refer to news release dated
September 21, 2005). Additionally, Canadian Royalties has vested a 70%
interest in the Expo-Ungava property; its interest therein shall increase to
80% simultaneously with the creation of the joint venture. Further, Canadian
Royalties holds an underlying 2% NSR on the Expo-Ungava property.
THIS NEWS RELEASE SHALL NOT CONSTITUTE AN OFFER TO SELL OR THE
SOLICITATION OF AN OFFER TO PURCHASE SECURITIES OF THE COMPANY IN ANY
For further information:
For further information: Canadian Royalties Inc.: Richard R. Faucher,
President & CEO, Toll free: 1-877-879-1688, email@example.com; C.
Jens Zinke, VP Business Development, Toll free: 1-877-879-1688,