This press release provides our assessment of Freehold’s future plans and operations as of September 24, 2021 and contains forward-looking information including, but not limited to, forward-looking information regarding Freehold’s expectation that the assets acquired will significantly improve the quality of Freehold’s North. US royalty portfolio, which enhances the short- and long-term sustainability of the Freehold dividend while providing more option value to return capital to our shareholders through several years of free cash flow growth; the expectation that the US Royalty Transaction will further advance Freehold’s strategy of being positioned in the highest quality development areas in North America, delivering attractive low-risk growth and returns to our shareholders ; and Freehold’s average royalty production guide for 2022.
This forward-looking information is provided to enable readers to better understand our business and potential customers and may not be suitable for other purposes. By its nature, forward-looking information is subject to numerous risks and uncertainties, some of which are beyond our control, including the impact of the COVID-19 pandemic on economic activity and demand for oil and natural gas, conditions general economic, industry conditions. , volatility of raw material prices, exchange rate fluctuations, inaccurate estimates of reserves, royalties, environmental risks, taxes, regulation, changes in taxes or other legislation, competition from other industry participants, lack of availability of personnel or qualified management, stock market volatility, our ability to access sufficient capital from internal and external sources, and the other risks related to Freehold’s business as further described in Freehold’s annual reporting form for the year ended December 31, 2020, which is available on Freehold’s profile on SEDAR at www.sedar. com.
With respect to the forward-looking information contained in this press release, we have made assumptions regarding, among other things, future oil and natural gas prices; future exchange rates; that unfinished wells drilled will be completed in the short term and put into production; that the wells related to the Acquired Assets that have been permitted will be drilled and completed within a customary timeframe; expectations that additional wells will be allowed, drilled, completed and brought into production in 2021 and 2022 based on Freehold’s review of the geology and economics of the works in which Freehold has an interest; expected production performance of wells to be drilled and / or brought into production in 2021 and 2022; the ability of our royalty payers to obtain equipment in a timely manner to carry out development activities; the ability and willingness of royalty payers to finance development activities; and other assumptions that are identified in this document. You are cautioned that the assumptions used in the preparation of such information, while believed to be reasonable at the time of preparation, may prove to be inaccurate and as such, undue reliance should not be placed on forward-looking information. We cannot assure you that any of the anticipated events will occur or occur, or if any of them occur, what benefits we will obtain from them.
The forward-looking information contained in this document is expressly qualified by this cautionary statement. Our policy for updating forward-looking statements is to update our key operating assumptions on a quarterly basis and, except as required by law, we make no commitment to update any other forward-looking statements.
For more information, contact:
Freehold Royalties Ltd.
Manager, Investor Relations and Capital Markets