Business
Royal Road Minerals Announces Execution of Definitive Agreement with Economias Sociales Del Comun (ECOMUN), Colombia
Toronto, Ontario--(Newsfile Corp. - December 18, 2017) - Royal Road Minerals Limited (TSXV: RY...
About this update from Royal Road Minerals Limited
[{"type":"text","content":"Royal Road Minerals Announces Execution of Definitive Agreement with Economias Sociales Del Comun (ECOMUN), ColombiaAppointment of Board DirectorToronto, Ontario--(Newsfile Corp. - December 18, 2017) - Royal Road Minerals Limited (TSXV: RYR) (\"Royal Road\" or the \"Company\") is pleased to announce that, as anticipated in its binding framework agreement (see Press Release September 26, 2017), it has now entered into a final definitive agreement (the \"Agreement\") with ECOMUN in support of its gold and copper exploration projects in Nariño Province and by mutual agreement, elsewhere in Colombia. In connection with the foregoing, the Company is also pleased to announce the appointment of Jenny Arias (formerly the Company's Vice President, Responsible Development) to the Board of Directors. Royal Road has submitted application for in excess of 400,000 hectares of Concession Contracts covering known gold and copper occurrences in what management believe is highly prospective geology in Nariño province of southern Colombia. The Agreement with ECOMUN provides for the support of Royal Road's long-term mineral exploration and development plans in Colombia, aligns Royal Road with the Colombian Government's post-conflict aspirations, as contemplated by the British Embassy's Business and Peace Initiative (to which Royal Road is a signatory), and demands an exemplary level of social engagement and environmental stewardship from both parties.ECOMUN is a joint social and economic organization, which was formed by Presidential Decree on May 29, 2017, with funding and other support provided by the Colombian government and with the aim of collective and individual economic and social reincorporation of the members of the Revolutionary Armed Forces of Colombia People's Army (FARC-EP), in accordance with the final peace agreement, between the Government of Colombia and the FARC-EP on November 24, 2016. This Agreement, which is the first of its kind since the 2016 peace agreement, includes the following key terms:Social and environmental programs conducted under the Agreement will be managed by a Management Committee comprised of two representatives from Royal Road and ECOMUN and one independent representativeCommunity Liaison Committees will be established and will report to the Management CommitteeThe parties will collaborate to forma...