Iron ORE Company of Canada Dividend
PO Box 957, STN Adelaide, Toronto, Ontario M5C 2K3 Tel : (416) 362-0066
LABRADOR IRON ORE ROYALTY CORPORATION
PRESS RELEASE
IRON ORE COMPANY OF CANADA DIVIDEND
Toronto, May 30, 2024
Labrador Iron Ore Royalty Corporation ("LIORC") announced that Iron Ore Company of Canada
("IOC"), in which LIORC holds a 15.1% equity interest, has declared a dividend to be paid in June.
LIORC's portion of the IOC dividend is U.S. $30.2 million, or about CDN. $41.2 million. For further
clarity, this announcement refers to the declaration of an IOC dividend to be received by LIORC and
is NOT the declaration by LIORC of a dividend to be paid to LIORC shareholders. LIORC typically
declares a second quarter dividend in June based on the total amo unt of cash expected to be
received in the quarter, including the IOC dividend.
About Labrador Iron Ore Royalty Corporation
The Corporation holds a 15.10% equity interest in IOC directly and through its wholly-owned subsidiary,
Hollinger-Hanna Limited, and receives a 7% gross overriding royalty on all iron ore products produced,
sold and shipped by IOC and a 10 cent per tonne commission on all iron ore products produced and sold
by IOC.
For further information, please contact:
John F. Tuer
President & Chief Executive Officer
(416) 362-0066
E-mail- [email protected]
Forward-Looking Statements
This report may contain “forward-looking” statements that involve risks, uncertainties and other factors that may cause the actual
results, performance or achievements to be materially different from any future results, performance or achievements expressed or
implied by such forward-looking statements. Words such as “may”, “will”, “expect”, “believe”, “plan”, “intend”, “should”, “would”,
“anticipate” and other similar terminology are intended to identify forward-looking statements. These statements reflect current
assumptions and expectations regarding future events and operating performance as of the date of this report. Forward-looking
statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will
not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actu al
results to vary significantly, including iron ore price and volume volatility; the performance of IOC; market conditions in the steel
industry; fluctuations in the value of the Canadian and U.S. dollar; mining risks that cause a disruption in operations and availability
of insurance; disruption in IOC’s operations caused by natural disasters, severe weather conditions and public health crises, including
the COVID-19 outbreak; failure of information systems or damage from cyber security attacks; adverse changes in domestic and
global economic and political conditions; changes in government regulation and taxation; national, provincial and international laws,
regulations and policies regarding climate change that further limit the emissions of greenhouse gases or increase the costs of
PO Box 957, STN Adelaide, Toronto, Ontario M5C 2K3 Tel : (416) 362-0066
operations for IOC or its customers; changes affecting IOC’s customers; competition from ot her iron ore producers; renewal of
mining licenses and leases; relationships with indigenous groups; litigation; and uncertainty in the estimates of reserves an d
resources. A discussion of these factors is contained in LIORC’s annual information form dated March 12, 2024 under the heading,
“Risk Factors”. Although the forward -looking statements contained in this report are based upon what management of LIORC
believes are reasonable assumptions, LIORC cannot assure investors that actual results will be consistent with these forward-looking
statements. These forward-looking statements are made as of the date of this report and LIORC assumes no obligation, except as
required by law, to update any forward-looking statements to reflect new events or circumstances. This report should be viewed in
conjunction with LIORC’s other publicly available filings, copies of which can be obtained electronically on SEDAR+ at
www.sedarplus.ca.