TORONTO, April 2, 2018
TORONTO, April 2, 2018 /CNW/ - Labrador Iron Ore Royalty Corporation ("LIORC") (TSX: LIF) announced that it has been advised that the USW Local 9344 (Sept-Îles) has rejected IOC's offer and voted in favour of a strike. Given statutory delays, Local 9344 will not have the right to actually strike before April 10 at the earliest. IOC is having ongoing discussions with the union regarding the maintenance, during a strike, of essential services (mainly freight and passenger service to Schefferville and Labrador City) for which some qualified unionized employees are required.
As noted in the previous press release, the strike at IOC is expected to adversely affect the revenue of LIORC as its income is entirely dependent on the sale of iron ore products by IOC.
This news release contains forward-looking statements within the meaning of applicable securities laws. 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 as of the date of this news release. 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 actual results to vary significantly. A discussion of these factors is contained in LIORC's annual information form dated March 8, 2018 under the heading "Risk Factors". Although the forward-looking statements contained in this news release 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 news release and LIORC assumes no obligation, except as required by law, to update any forward-looking statements to reflect new events or circumstances. This news release should be viewed in conjunction with LIORC's other publicly available filings, copies of which can be obtained electronically on SEDAR at www.sedar.com.
SOURCE Labrador Iron Ore Royalty Corporation
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William H. McNeil, President & Chief Executive Officer, Phone: (416) 863-7133, Email: firstname.lastname@example.orgCopyright CNW Group 2018