Canadian Royalties Closes $25 Million Financing

Canadian Royalties Inc. (TSX: CZZ) recently announced the closing of a non-brokered private placement of an aggregate 7,246,377 common shares at a price of $3.45 per common share for aggregate gross proceeds of CAN$ 25 million with Norilsk Nickel Harjavalta Oy, a wholly-owned subsidiary of MMC Norilsk Nickel. Norilsk Nickel is the world’s largest producer of nickel and palladium.

The proceeds of the offering will be used by the Corporation to continue the development of its Nunavik Nickel Project, located near Xstrata Nickel’s Raglan Mine in Nunavik, Quebec.

To complete this transaction, Sébastien Vézina, from Lavery, de Bily L.L.P., assisted Luciana Zannella, corporate secretary for Canadian Royalties.

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