Friday, October 16, 2009

Canadian Stock Research - Canadian Royalties Inc

Canadian Stock Research News Update:

Jien Canada and Canadian Royalties Sign Definitive Support Agreement

MONTREAL, QUEBEC--(Marketwire - Oct. 16, 2009) - Canadian Royalties Inc. (the "Company", or "Canadian Royalties") (TSX:CZZ), Jilin Jien Nickel Industry Co., Ltd. ("Jilin Jien"), Goldbrook Ventures Inc. ("Goldbrook"), Jien Canada Mining Ltd. ("Jien Canada") and Jien International Investment Ltd. are pleased to announce that they have entered into a definitive support agreement (the "Support Agreement"), pursuant to which the board of directors of Canadian Royalties (the "Canadian Royalties Board") has agreed to support the making of amended offers (the "Offers") to acquire all of the issued and outstanding common shares (the "Shares") and all of the 7% Convertible Senior Unsecured Debentures due March 31, 2015 (the "Debentures") of Canadian Royalties. Pursuant to the Support Agreement, the Offers will be amended to (i) increase the price offered per Share to $0.80 in cash; (ii) increase the price offered for the Debentures to $800 per $1,000 principal amount of Debentures, plus accrued and unpaid interest up to, but excluding, the date the Debentures are taken up under the Debenture Offer; and (iii) extend the expiry of the Offers to 5:00 P.M. (Toronto time) on October 27, 2009.

Canadian Stock Research news update comes courtesy of StockResearchPortal. To view the complete version of this news release visit Stock Research Portal