TORONTO, Aug. 29,
2024 /CNW/ - Labrador Iron Ore Royalty Corporation
("LIORC") announced that Iron Ore Company of Canada ("IOC"), in which LIORC holds a 15.1%
equity interest, has declared a dividend to be paid in September.
LIORC's portion of the IOC dividend is U.S. $15.1 million, or about CDN. $20.3 million. For further clarity, this
announcement refers to the declaration of an IOC dividend to be
received by LIORC and is NOT the declaration by LIORC of a dividend
to be paid to LIORC shareholders. LIORC typically declares a third
quarter dividend in September based on the total amount of cash
expected to be received in the quarter, including the IOC
dividend.
About Labrador Iron Ore Royalty Corporation
The Corporation holds a 15.10% equity interest in IOC directly
and through its wholly-owned subsidiary, Hollinger-Hanna Limited,
and receives a 7% gross overriding royalty on all iron ore products
produced, sold and shipped by IOC and a 10
cent per tonne commission on all iron ore products produced
and sold by IOC.
Forward-Looking Statements
This report may contain
"forward-looking" statements that involve risks, uncertainties and
other factors that may cause the actual results, performance or
achievements to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Words such as "may", "will", "expect",
"believe", "plan", "intend", "should", "would", "anticipate" and
other similar terminology are intended to identify forward-looking
statements. These statements reflect current assumptions and
expectations regarding future events and operating performance as
of the date of this report. Forward-looking statements involve
significant risks and uncertainties, should not be read as
guarantees of future performance or results, and will not
necessarily be accurate indications of whether or not such results
will be achieved. A number of factors could cause actual results to
vary significantly, including iron ore price and volume volatility;
the performance of IOC; market conditions in the steel industry;
fluctuations in the value of the Canadian and U.S. dollar; mining
risks that cause a disruption in operations and availability of
insurance; disruption in IOC's operations caused by natural
disasters, severe weather conditions and public health crises,
including the COVID-19 outbreak; failure of information systems or
damage from cyber security attacks; adverse changes in domestic and
global economic and political conditions; changes in government
regulation and taxation; national, provincial and international
laws, regulations and policies regarding climate change that
further limit the emissions of greenhouse gases or increase the
costs of operations for IOC or its customers; changes affecting
IOC's customers; competition from other iron ore producers; renewal
of mining licenses and leases; relationships with indigenous
groups; litigation; and uncertainty in the estimates of reserves
and resources. A discussion of these factors is contained in
LIORC's annual information form dated March
12, 2024 under the heading, "Risk Factors". Although the
forward-looking statements contained in this report are based upon
what management of LIORC believes are reasonable assumptions, LIORC
cannot assure investors that actual results will be consistent with
these forward-looking statements. These forward-looking statements
are made as of the date of this report and LIORC assumes no
obligation, except as required by law, to update any
forward-looking statements to reflect new events or circumstances.
This report should be viewed in conjunction with LIORC's other
publicly available filings, copies of which can be obtained
electronically on SEDAR+ at www.sedarplus.ca.
SOURCE Labrador Iron Ore Royalty Corporation
