Quantcast
Last updated on April 24, 2014 at 10:16 EDT

Franco-Nevada and Lumina Royalty Announce Shareholder Approval of Arrangement

November 24, 2011

TORONTO, Nov. 24, 2011 /PRNewswire/ – Franco-Nevada Corporation (TSX:FNV)
(NYSE:FNV) (“Franco-Nevada”) and Lumina Royalty Corp (“Lumina Royalty”)
announced today that shareholders of Lumina Royalty have approved the
previously announced arrangement agreement (the “Arrangement”) between
Franco-Nevada and Lumina Royalty. Total votes cast at the special
meeting of shareholders represented 19,139,403 common shares of Lumina
Royalty or 50.80% of the total issued and outstanding common shares of
Lumina Royalty. In the vote requiring 66 2/3% in favour of the
Arrangement, 19,138,803 votes were cast FOR, representing 99.99% of the
votes cast and in the vote requiring a majority of the minority in
favour of the Arrangement under MI 61-101, 8,020,952 votes were cast
FOR, representing 99.99% of the votes cast.

Lumina Royalty will now apply to the Supreme Court of British Columbia
for a final order (the “Final Order”) approving the Arrangement. The
hearing for the Final Order is expected to take place later today.
Provided that the Final Order is granted, Lumina Royalty and
Franco-Nevada expect to complete the Arrangement on or about December
1, 2011.

About Franco-Nevada

Franco-Nevada Corporation (TSX: FNV) (NYSE: FNV) is a gold-focused
royalty and stream company with additional interests in platinum group
metals, oil & gas and other assets. The Company has a diversified
portfolio of high margin assets along with a growing pipeline of
development assets with exposure to some of the largest gold
discoveries in the world. Its business model benefits from rising
commodity prices and new discoveries while limiting operating and
capital cost inflation. Franco-Nevada is generating growing free cash
flow with historical increasing dividends and is the gold investment
that works.

About Lumina Royalty

Lumina Royalty Corp. is an unlisted company that owns royalty interests
on four copper development projects located in Chile and Argentina. 
The company was formed as a result of a reorganization of Lumina Copper
Corp. (TSX-V: LCC) in June 2011.  The four development projects are the
Relincho copper/molybdenum project located in Region III, Chile that is
being advanced by Teck Resources Ltd; the Taca Taca
copper/gold/molybdenum project located in Salta Province, Argentina
that is being advanced by Lumina Copper Corp; the San Jorge
copper/gold/molybdenum project located in Mendoza Province, Argentina
that is being advanced by Coro Mining Corp. and the Vizcachitas
copper/molybdenum project located in Region V, Chile that is being
advanced by Los Andes Copper Limited.  More information about Lumina
Royalty Corp. and its assets can be found on the company’s website at www.luminaroyalty.com.

CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION

Certain information contained in this press release, including any
information as to future financial or operating performance and other
statements that express management’s expectations or estimates of
future performance, constitute “forward-looking statements”. All
statements, other than statements of historical fact, are
forward-looking statements. The words “anticipates”, “anticipated”, 
“believes”, “plans”, “estimate”, “expect”, “expects”, “expected”,
“forecasted”, “targeted” and similar expressions identify
forward-looking statements. Forward-looking statements are necessarily
based upon a number of estimates and assumptions that, while considered
reasonable by management, are inherently subject to significant
business, economic and competitive uncertainties and contingencies.
Readers are cautioned that such forward-looking statements involve
known and unknown risks, uncertainties and other factors that may cause
actual financial results, performance or achievements to be materially
different from estimated future results, performance or achievements
expressed or implied by those forward-looking statements and the
forward-looking statements are not guarantees of future performance.
These risks, uncertainties and other factors include, but are not
limited to: the conditions in the arrangement agreement being
satisfied, the ability of the parties to otherwise complete all of the
transactions contemplated by the arrangement agreement, approval of the
listing of the Franco-Nevada common shares and warrants by the TSX and
the NYSE, as applicable, necessary court approvals,  fluctuations in
the prices of the primary commodities that drive royalty and stream
revenue (gold, platinum group metals, copper, nickel, uranium, silver
and oil & gas); fluctuations in the value of the Canadian and
Australian dollar, Mexican peso, and any other currency in which
revenue is generated, relative to the US dollar; changes in national
and local government legislation, including permitting regimes and
taxation policies; regulations and political or economic developments
in any of the countries where properties in which the parties hold a
royalty, stream or other interest are located; influence of
macroeconomic developments; business opportunities that become
available to, or are pursued by Franco-Nevada; reduced access to debt
and equity capital; litigation; title disputes related to interests or
any of the properties in which the parties hold a royalty, stream or
other interest; excessive cost escalation as well as development,
permitting, infrastructure, operating or technical difficulties on any
of the properties in which the parties hold a royalty, stream or other
interest; rate and timing of production differences from resource
estimates; risks and hazards associated with the business of
development and mining on any of the properties in which the parties
hold a royalty, stream or other interest,, including, but not limited
to unusual or unexpected geological and metallurgical conditions, slope
failures or cave-ins, flooding and other natural disasters or civil
unrest; and the integration of acquired assets. The forward-looking
statements contained in this press release are based upon assumptions
management of the parties believes to be reasonable, including, without
limitation, that the conditions in the arrangement agreement will be
satisfied, that the parties will otherwise complete all of the
transaction contemplated by the arrangement agreement, that the TSX and
the NYSE will approve the listing of the Franco-Nevada common shares
and warrants, as applicable, that necessary court approvals will be
obtained, the ongoing operation of the properties in which the parties
hold a royalty, stream or other interest by the owners or operators of
such properties in a manner consistent with past practice, the accuracy
of public statements and disclosures made by the owners or operators of
such underlying properties, no material adverse change in the market
price of the commodities that underlie the asset portfolio, no adverse
development in respect of any significant property in which the parties
hold a royalty, stream or other interest, accuracy of publicly
disclosed expectations for the development of underlying properties
that are not yet in production, integration of acquired assets and the
absence of any other factors that could cause actions, events or
results to differ from those anticipated, estimated or intended.
Accordingly, readers should not place undue reliance on forward-looking
statements because of the inherent uncertainty. For additional
information with respect to risks, uncertainties and assumptions,
please also refer to the “Risk Factors” section of Franco-Nevada’s most
recent Annual Information Form filed with the Canadian securities
regulatory authorities on SEDAR at
www.sedar.com, as well as Franco-Nevada’s annual and interim MD&A. The
forward-looking statements herein are made as of the date of this press
release only and the parties do not assume any obligation to update or
revise them to reflect new information, estimates or opinions, future
events or results or otherwise, except as required by applicable law.

SOURCE Franco-Nevada Corporation


Source: PR Newswire