Vancouver, B.C. August 18, 2020 Evrim Resources Corp. (TSX.V:EVM) (“Evrim” or the “Company”) and Renaissance Gold Inc. (TSX-V: REN, OTCQB: RNSGF) (“Renaissance”) are pleased to announce the completion of the previously announced merger-of-equals (the “Transaction”) in which Evrim acquired all of the outstanding common shares of Renaissance through a share exchange transaction pursuant to a plan of arrangement (the “Arrangement”).
Concurrently with the completion of the Arrangement Evrim changed its name to “Orogen Royalties Inc.” (“Orogen”). Orogen will begin trading on the TSX Venture Exchange under the symbol “OGN” on August 20, 2020.
As part of the Transaction, Robert Felder and Tim Janke, former directors of Renaissance, have joined the Board of Directors of the Company and Paddy Nicol and John Thompson have resigned as directors. Paddy Nicol remains the President and CEO of Orogen and Robert Felder, the former CEO of Renaissance, will take on the role of Senior Vice President of Orogen.
Orogen’s Mission and Strategy
Orogen’s mission is to create and acquire precious metal royalties using its strengths as a prospect generator as well as its established business relationships across the mining industry. Organic royalty generation will be driven by existing joint ventures and alliances and through generative exploration that leads to new opportunities to create value for Orogen’s shareholders and its exploration partners, the hallmarks of each of Evrim and Renaissance prior to the Transaction. Strategic royalty acquisition will be supported by Orogen’s industry knowledge and geological expertise in critical types of deposits.
Underpinning Orogen’s strategic royalty focus are two organically created cornerstone assets: (i) a 2% net smelter return royalty (“NSR”) on the Ermitaño West gold-silver deposit in Sonora, Mexico, where production by First Majestic Silver Corp. is slated to begin in 2021(1); and (ii) a 1% NSR on the Silicon gold project in Nevada, U.S.A., which is being advanced by AngloGold Ashanti S.A.
Evrim and Renaissance Shares
The common shares of the Company will commence trading on the TSX Venture Exchange under the symbol “OGN” on August 20, 2020 to reflect the new name of the Company.
The common shares of Renaissance have been halted and are expected to be de-listed on or about August 18, 2020. Renaissance shareholders will receive 1.2448 common shares of Orogen for each common share of Renaissance held. Each Renaissance warrant and option will become exercisable for Orogen common shares, as adjusted in accordance with the exchange ratio.
About Orogen Royalties Inc. (formerly Evrim Resources Corp.)
Orogen Royalties Inc., formerly named Evrim Resources Corp., is a royalty company focused on project generation for precious and base metal properties in western North America, building on the history of Evrim and Renaissance, but with a renewed focus on organic royalty creation and royalty acquisition. Orogen’s royalty portfolio includes a 2% NSR on the Ermitaño West gold-silver deposit in Sonora, Mexico and a 1% NSR on the Silicon gold project in Nevada, U.S.A. The Company is well-financed with several projects under active joint ventures and alliances.
On Behalf of the Board
OROGEN ROYALTIES INC.
Paddy Nicol
President and CEO
To find out more about Orogen, please contact Paddy Nicol, President and Chief Executive Officer, at 604-248-8648, or Liliana Wong, Manager of Marketing and Investor Relations, at 604-248-8648. Visit our website at www.orogenroyalties.com.
Orogen Royalties Inc.
1201 – 510 West Hastings Street
Vancouver, BC V6B 1L8
[email protected]
Original Article: https://www.evrimresources.com/news/2020/evrim-resources-and-renaissance-gold-announce-completion-of-merger-and-creation-of-orogen/
