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Labrador announces new directors

(Posted on 08/01/20)

Labrador Iron Ore Royalty Corporation is pleased to announce the appointment of Douglas McCutcheon and Dorothea Mell as Directors of the Corporation. The opportunity to add Doug and Dorothea to the Board was created by increasing the number of Directors from six to eight.

Doug has extensive experience working in the finance industry globally, as both an investor and advisor. He is the President of a successful investment management firm, based in Toronto. Previously, he spent 25 years working as an investment banker, advising companies and boards around the world on raising capital and mergers and acquisitions. Dorothea has more than 25 years of experience in the investment industry. Most recently she was a Managing Director and Portfolio Manager at one of Canada's pre-eminent private wealth management firms, where she was responsible for high yield investments. Before that she was a partner at a specialist fixed income asset manager, where she held various senior management roles. Dorothea has considerable experience in negotiating and interacting with various stakeholders, including management, boards, employees, shareholders, debtholders and suppliers. Doug and Dorothea bring complementary knowledge and experience to our Board of Directors.

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 and a 10 cent per tonne commission on all iron ore products produced, sold and shipped by IOC.