In issuing the Reassessments, the CRA is seeking to increase the Company's income for Canadian tax purposes, which would result in federal and provincial taxes and interest of approximately
Freehold, in consultation with its advisors, believes that the Company has filed its tax returns, and paid applicable taxes, in compliance with Canadian tax law, and Freehold intends to vigorously and expeditiously defend its tax filing position. Freehold intends to file notices of objection with the CRA, within the required 90 day period provided for under the Income Tax Act (
For further information, contact:
Manager, Investor Relations & Capital Markets
t. 403.221.0833
f. 403.221.0888
tf. 1.888.257.1873
e. mdonohue@rife.com
w. www.freeholdroyalties.com
Forward-Looking Statements
This news release offers our assessment of Freehold’s future plans and operations as at
With respect to forward-looking statements contained in this news release, we have made various assumptions, including relating to the provincial tax component of the federal and provincial taxes potentially owing. You are cautioned that the assumptions used in the preparation of such information, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. Our actual results, performance, or achievement could differ materially from those expressed in, or implied by, these forward-looking statements. We can give no assurance that any of the events anticipated will transpire or occur, or if any of them do, what benefits we will derive 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 quarterly and, except as required by law, we do not undertake to update any other forward-looking statements.
Source:
2020 GlobeNewswire, Inc., source