TORONTO, Feb. 6, 2019 /CNW/ - In response to certain questions raised by shareholders, the directors of Labrador Iron Ore Royalty Corporation (the "Corporation") wish to indicate that they have no intention of calling a special meeting on or before the upcoming AGM nor is a further special meeting currently contemplated. The intention to call a special meeting was announced by the directors of the Corporation on June 18, 2018 to, among other things, amend the articles of incorporation and was deferred on November 7, 2018. The Directors also want to clarify that they have no intention of making an acquisition without shareholder approval.
The Directors take into account the interests of all shareholders in acting in the long-term best interests of the Corporation and maximizing shareholder value. The Corporation has generally paid out cash dividends to the maximum extent possible. However, there have been times where the Directors have determined that it has been appropriate to draw down on its cash reserves and other times where it has been prudent to build cash reserves back up. The Directors anticipate continuing to return cash to shareholders to the maximum extent possible, subject to the adjustments referred to above.
SOURCE Labrador Iron Ore Royalty Corporation
For further information: William H. McNeil, President & Chief Executive Officer, (416) 863-7133, E-mail- [email protected]