VANCOUVER, BC, Nov. 24, 2020 /CNW/ - (TSXV: OGN) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce the appointment of Marc Tran as Chief Financial Officer ("CFO") of the Company. Mr. Tran takes over from Mr. Mahesh Liyanage, who is leaving the Company to pursue his own CFO services business.
Mr. Tran is a Chartered Professional Accountant (CPA, CGA) with over 20 years of finance leadership experience in public organizations. He has successfully completed over $100 million of financing for mining projects and is an experienced strategic executive in transforming and scaling growth staged companies. He has a strong background in project financing, M&A, compliance, regulatory management, corporate governance, and marketing. Mr. Tran also holds a Bachelor of Commerce in Finance and Bachelor of Arts in Economics from the University of Calgary.
"We are very excited to have Marc join our team at Orogen", commented Orogen's CEO, Paddy Nicol. "We look forward to implementing his breadth of financial management experience to grow Orogen's royalty portfolio. We would also like to thank Mahesh for his many contributions over the past seven years. Mahesh is well regarded by all of us and we wish him the best of luck with his new venture."
In connection with the appointment of Mr. Tran, the Company has granted 500,000 incentive stock options for a period of five years and have an exercise price of $0.33 per share.
About Orogen Royalties
Orogen Royalties Inc. is engaged in project generation for precious and base metal discoveries in western North America with a focus on organic royalty creation and royalty acquisitions. Orogen's royalty portfolio includes the Ermitaño West gold deposit in Sonora, Mexico (2% NSR) being developed by First Majestic Silver Corp. and the Silicon gold project (1% NSR) in Nevada, USA, being advanced by AngloGold Ashanti N.A. The Company is well financed with several projects actively being developed by joint venture partners.
On Behalf of the Board
OROGEN ROYALTIES INC.
President & CEO
Orogen Royalties Inc.
1201 - 510 West Hastings Street
Canada V6B 1L8
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements". All statements in this presentation, other than statements of historical facts, that address events or developments that Orogen Royalties Inc. (the "Company") expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.
Forward looking information relates to statements concerning the Company's future outlook and anticipated events or results, as well as the Company's management expectations with respect to the proposed business combination (the "Transaction"). This document also contains forward-looking statements regarding the anticipated completion of the Transaction and timing thereof. Forward-looking statements in this document are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the receipt, in a timely manner, of regulatory and stock exchange approvals in respect of the Transaction.
Although the Company believe the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Furthermore, the extent to which COVID-19 may impact the Company's business will depend on future developments such as the geographic spread of the disease, the duration of the outbreak, travel restrictions, physical distancing, business closures or business disruptions, and the effectiveness of actions taken in Canada and other countries to contain and treat the disease. Although it is not possible to reliably estimate the length or severity of these developments and their financial impact as of the date of approval of these condensed interim consolidated financial statements, continuation of the prevailing conditions could have a significant adverse impact on the Company's financial position and results of operations for future periods.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
SOURCE Orogen Royalties Inc.
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