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August 27, 2019 – Toronto, Ontario: Royal Road Minerals Limited (TSXV:RYR) (“Royal Road Minerals” or the “Company”), is pleased to announce that it has acquired the remaining 2% minority equity interest (the “Acquisition”) in Minerales Camino Real S.A.S., (“RRM Colombia”), resulting in RRM Colombia becoming a wholly-owned subsidiary of the Company. RRM Colombia is a Colombian corporation, through which the Company holds various mineral exploration interests and carries on its operations in Colombia. Under the terms of the Acquisition, the Company issued 1,200,000 ordinary shares as consideration for the minority equity interest. The securities issued upon closing of the Acquisition are subject to a four month and one day hold period, pursuant to applicable securities laws.
The Acquisition was approved by the Company’s shareholders at the Company’s annual and special meeting of its shareholders held on August 15, 2019.
In Colombia Royal Road Minerals operates through its wholly-owned Colombian companies Minerales Camino Real SAS founded in 2015 and Exploraciones Northern Colombia SAS acquired from previous owners in 2019. In Argentina Royal Road Minerals operates through its wholly owned Argentinian company, Minerales Camino Real Argentina. In Saudi Arabia and Morocco the Company operates through its 50% owned Saudi Arabian registered subsidiary, Royal Road Arabia.