Labrador Iron Ore Royalty Corporation Responds to Questions
February 06 2019 - 4:08PM
PR Newswire (Canada)
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
Copyright 2019 Canada NewsWire
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