International Royalty Corporation Closes On 14 Royalties.DENVER -- International Royalty Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :IRC (Internet Relay Chat) Computer conferencing on the Internet. There are hundreds of IRC channels on numerous subjects that are hosted on IRC servers around the world. After joining a channel, your messages are broadcast to everyone listening to that channel. ) ("IRC") announces it has completed the acquisition of 14 royalties that it had previously negotiated with BHP Billiton BHP Billiton is the world's largest mining company.[1] Its origin is in the 2001 merger of Australia's Broken Hill Proprietary Company (BHP) and the UK's Billiton, which has a South African background. The result is a dual-listed company. World Exploration Inc. ("BHP Billiton"). On November 15, 2004, IRC entered into a binding agreement with BHP Billiton to acquire a portfolio of mineral royalties for a total purchase price of US$1,250,000 dollars, one-half payable in cash and the balance by issuing 180,189 common shares at CAD$4.30 per share. Since November, as a result of due dilligence See due diligence. , the Los Cumani and Selwyn royalties have been excluded from the portfolio and the purchase price has been decreased to US$1,230,000 to reflect these changes. On April 19th, 2005, IRC completed the purchase of 14 royalties in the portfolio for 180,189 common shares shares and US$65,000. The shares are subject to a four month hold period expiring August 19, 2005. The acquisition of the eight remaining royalites is expected to be completed within the next few weeks. The 22 interests include various types of royalties on feasibility-stage and exploration-stage properties including copper, diamond, gold, molybdenum molybdenum (məlĭb`dənəm) [Gr.,=leadlike], metallic chemical element; symbol Mo; at. no. 42; at. wt. 95.94; m.p. about 2,617°C;; b.p. about 4,612°C;; sp. gr. 10.22 at 20°C;; valence +2, +3, +4, +5, or +6. , non-metallics, nickel, platinoids, silver and zinc projects. Ten of the properties are located in Canada while the others are in Australia, Brazil, Burkina Faso Burkina Faso (burkē`nə fä`sō), republic (2005 est. pop. 13,925,000), 105,869 sq mi (274,200 sq km), W Africa. It borders on Mali in the west and north, on Niger in the northeast, on Benin in the southeast, and on Togo, Ghana, and , Ghana, Mexico, Russia, Tunisia and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . On behalf of the Board of Directors, INTERNATIONAL ROYALTY CORPORATION Douglas B. Silver Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe IRC's future plans, intentions, objectives or goals, including words to the effect that IRC or management expects a stated condition or result to occur. Since forward-looking statements are not statements of historical fact and address future events, conditions and expectations, forward-looking statements by their nature involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements. IRC does not expect to update forward-looking statements continually as conditions change and you are referred to the full discussion of IRC's business contained in its reports filed with the securities regulatory authorities. 10 Inverness Drive East, Suite 104 Englewood, Colorado USA 80112 International Royalty Corporation (TSX:IRC) |
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