MONTREAL, Aug. 19 /CNW Telbec/ - Canadian Royalties Inc. (TSX:CZZ) ("Canadian Royalties" or the "Corporation") is pleased to announce that it has appointed Mr. Daniel Poisson, CA, as Interim Chief Financial Officer. Mr. Poisson is currently the Corporate Controller of the Corporation.
Gerald Price has resigned today from his office of Chief Financial Officer. The Board of Directors would like to thank Mr. Gerald Price for his hard work and dedicated service as Chief Financial Officer of the Corporation.
"We sincerely wish to thank Mr. Price for his determination and professionalism to assist the Corporation during this transition period and wish him well in his future endeavours. Canadian Royalties will immediately commence a search for a new Chief Financial Officer." said Glenn J. Mullan, Chairman of the Board of Directors of the Corporation.
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 kilometers south of Xstrata Nickel's Raglan Mine in Nunavik, Quebec. Canadian Royalties has received its Environmental Certificate of Authorization on May 21, 2008 and Mine Leases for the Expo, Mesamax, Ivakkak and Mequillon sites of the Nunavik Nickel Project on July 29, 2008.
Forward-looking Statement
This news release contains certain forward-looking statements or forward-looking information. These forward-looking statements are subject to a variety of risks and uncertainties beyond the Corporation's ability to control or predict which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. Such risks and uncertainties are disclosed under the heading "Risk Factors" in the Corporation's Annual Information Form for the year ended December 31, 2007 and dated March 31, 2008. Further, forward-looking information is in addition based on various assumptions, including, without limitation, the expectation and beliefs of management, the assumed long term price of nickel, that the Nunavik Nickel Project is a technical viable and economic operation, that it can be successfully completed by the Corporation, that the Corporation will receive the required permits and access to surface rights, and that the Corporation can access financing, appropriate equipment, and sufficient labour. Should one or more of these risks and uncertainties materialize, or should the underlying assumption prove incorrect or different, actual results may vary materially from those described in the forward-looking statements. All forward-looking statements speak only as of the date of this news release and the Corporation does not undertake any obligation to update or publicly disclose any revisions to such forward-looking statements to reflect events, circumstances or changes in expectations after the date hereof, except as required by law. Accordingly, readers should not place undue reliance on forward-looking statements.