Cobre Panama Supreme Court Update

Rhea-AI Summary

Franco-Nevada Corporation (FNV) Faces Uncertainty as Panama Supreme Court Deems Cobre Panama Mine Concession Contract Unconstitutional

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• The Supreme Court of Panama deems Law 406 unconstitutional, causing uncertainty for Franco-Nevada Corporation's Cobre Panama mine concession contract.

TORONTO, Nov. 28, 2023 /PRNewswire/ - Franco-Nevada Corporation ("Franco-Nevada") (TSX: FNV) (NYSE: FNV) is aware that the Supreme Court of Panama announced this morning that Law 406, the law that approved the revised concession contract for the Cobre Panama mine, is unconstitutional. Franco-Nevada is in communication with its partner First Quantum Minerals Ltd. and will provide further updates as they are available.

Forward-Looking Statements

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities laws and the United States Private Securities Litigation Reform Act of 1995, respectively, which may include, but are not limited to, statements with respect to the impact of the unconstitutionality ruling of the Supreme Court of Panama with respect to Law 406. The outcome of these matters could have a material adverse impact on the revenue Franco-Nevada derives from its streaming arrangements relating to Cobre Panama and on Franco-Nevada's results of operations and financial condition. There can be no assurance that such forward-looking statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Investors are cautioned that forward-looking statements are not guarantees of future performance. Accordingly, investors should not place undue reliance on forward-looking statements due to the inherent uncertainty therein.

For additional information with respect to risks, uncertainties and assumptions relating to Franco-Nevada's business and assets, please refer to Franco-Nevada's most recent Annual Information Form filed with the Canadian securities regulatory authorities on www.sedarplus.com and Franco-Nevada's most recent Annual Report filed on Form 40-F filed with the SEC on www.sec.gov. The forward-looking statements herein are made as of the date of this press release only and Franco-Nevada does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law.

View original content:https://www.prnewswire.com/news-releases/cobre-panama-supreme-court-update-301999333.html

SOURCE Franco-Nevada Corporation

FAQ

What is the latest announcement from Franco-Nevada Corporation (FNV) regarding the Cobre Panama mine concession contract?

The Supreme Court of Panama has announced that Law 406, the law that approved the revised concession contract for the Cobre Panama mine, is unconstitutional.

Who is Franco-Nevada Corporation's (FNV) partner in the Cobre Panama mine concession contract?

Franco-Nevada is in communication with its partner First Quantum Minerals Ltd.

How is the stock market reacting to the news about Franco-Nevada Corporation (FNV) and the Cobre Panama mine concession contract?

The stock market may react with uncertainty due to the potential impact on Franco-Nevada's business operations and financial performance.

What are the potential implications of the Supreme Court of Panama deeming Law 406 unconstitutional for Franco-Nevada Corporation (FNV)?

The decision may lead to uncertainty and potential disruptions in the operations and financial outlook of Franco-Nevada Corporation, impacting its shareholders and investors.

How is Franco-Nevada Corporation (FNV) addressing the situation with the Cobre Panama mine concession contract?

Franco-Nevada is in communication with its partner First Quantum Minerals Ltd. and will provide further updates as they are available.