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Royal Coal Announces Debt Settlement

·1 min read

Toronto, Ontario--(Newsfile Corp. - September 13, 2022) - Royal Coal Corp. (the "Company") announces that it has entered into a settlement agreement (the "Settlement Agreement") with Sandstorm Metals & Energy (US) Ltd. and Sandstorm Gold Ltd. (collectively, "Sandstorm") to settle all outstanding debt owed by the Company to Sandstorm. In connection with the Settlement Agreement, the Company has issued an aggregate of 5,900,000 common shares (the "Common Shares") in the capital of the Company to Sandstorm. All Common Shares issued are subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

For more information, please contact:

Elia Crespo
Director
Tel: (416) 867-9087 ext 2321
Email: elia@griffis.ca

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137012