Orogen Appoints Mr. Justin Quigley to the Board of Directors

Rhea-AI Summary

Orogen Royalties Inc. has appointed Justin Quigley to its Board of Directors, enhancing its strategic direction. Quigley brings extensive experience in the natural resources sector, previously serving as Vice President - Commercial for Rio Tinto Exploration, where he led transactions exceeding US$2.5 billion, including over US$220 million in royalty sales. The board will grant him 500,000 stock options at $0.37 each for five years, subject to regulatory approval. Orogen focuses on organic royalty creation in precious and base metals in North America.

Positive

• Justin Quigley's appointment adds strategic experience to the board.
• Quigley has a track record of successful transactions valued over US$2.5 billion.

Negative

• Potential concerns regarding continuity and integration of new leadership.

VANCOUVER, BC / ACCESSWIRE / August 3, 2021 / (TSXV:OGN)(OTCQX:OGNRF) Orogen Royalties Inc. ("Orogen" or the "Company") is pleased to announce it has appointed Mr. Justin Quigley to the Board of Directors.

Mr. Quigley is an internationally experienced business development executive with multi-commodity expertise in the natural resources sector. Most recently Justin was Vice President - Commercial for Rio Tinto Exploration ("RTX") Americas where he formed part of the RTX Americas Senior Leadership Team. Justin and his team delivered an impressive record of innovative and strategically sound commercial transactions exceeding US$2.5 billion in total combined value, including over US$220 million in various royalty sales. He also assisted as a Strategic Advisor to Rio Tinto's business units on various transactions. Prior to this, Mr. Quigley was General Counsel and Commercial Director for RTX North America Region/Kennecott Minerals Company where he managed the legal and commercial affairs of these and associated companies.

Orogen CEO and President Paddy Nicol commented "Mr. Quigley brings a unique skillset to Orogen's board that will greatly benefit the strategic guidance of the Company. Justin has considerable experience in strategic planning, negotiation, and legal affairs with RTX Americas, and this has been demonstrated through over 100+ transactions with a variety of exploration and mining companies. We welcome Justin to our board and look forward to working with him."

As part of Mr. Quigley's compensation, the Board has agreed to grant 500,000 incentive stock options at a price of $0.37 for a period of five years. The foregoing subject to regulatory acceptance.

About Orogen Royalties Inc.

Orogen Royalties Inc. is focused on organic royalty creation and royalty acquisitions on precious and base metal discoveries in western North America. Orogen's royalty portfolio includes the Ermitaño West gold deposit in Sonora, Mexico (2% NSR royalty) being developed by First Majestic Silver Corp. and the Silicon gold project (1% NSR royalty) in Nevada, USA, being advanced by AngloGold Ashanti N.A. The Company is well financed with several projects actively being developed by joint venture partners.

On Behalf of the Board

OROGEN ROYALTIES INC.

Paddy Nicol
President & CEO

To find out more about Orogen, please contact Paddy Nicol, President & CEO at 604-248-8648, and 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
Canada V6B 1L8
info@orogenroyalties.com

Forward Looking Information

This news release includes certain statements that may be deemed "forward looking statements". All statements in this presentation, other than statements of historical facts, that address events or developments that Orogen Royalties Inc. (the "Company") expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur.

Forward looking information relates to statements concerning the Company's future outlook and anticipated events or results, as well as the Company's management expectations with respect to the proposed business combination (the "Transaction"). This document also contains forward-looking statements regarding the anticipated completion of the Transaction and timing thereof. Forward-looking statements in this document are based on certain key expectations and assumptions made by the Company, including expectations and assumptions concerning the receipt, in a timely manner, of regulatory and stock exchange approvals in respect of the Transaction.

Although the Company believe the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Furthermore, the extent to which COVID-19 may impact the Company's business will depend on future developments such as the geographic spread of the disease, the duration of the outbreak, travel restrictions, physical distancing, business closures or business disruptions, and the effectiveness of actions taken in Canada and other countries to contain and treat the disease. Although it is not possible to reliably estimate the length or severity of these developments and their financial impact as of the date of approval of these condensed interim consolidated financial statements, continuation of the prevailing conditions could have a significant adverse impact on the Company's financial position and results of operations for future periods.

Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by securities laws, the Company undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

SOURCE: Orogen Royalties Inc.

View source version on accesswire.com:
https://www.accesswire.com/657866/Orogen-Appoints-Mr-Justin-Quigley-to-the-Board-of-Directors

FAQ

Who is Justin Quigley in relation to Orogen Royalties?

Justin Quigley has been appointed to the Board of Directors and brings extensive experience from Rio Tinto.

What is Justin Quigley's experience before joining Orogen Royalties?

Quigley was the Vice President - Commercial for Rio Tinto Exploration and has executed over US$2.5 billion in transactions.

What compensation is Justin Quigley receiving for his board role?

He will receive 500,000 stock options at a price of $0.37 for a period of five years.

What does Orogen Royalties focus on?

Orogen focuses on organic royalty creation and acquisitions in precious and base metals in western North America.