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CRC Royalty Corporation Announces Plan to Dissolve the Company

VANCOUVER, Nov. 8, 2019 /CNW/ - CRC Royalty Corporation (the "Company") today announced that its Board of Directors ("Board") has determined that a settlement and dissolution of the Company is in the Company's best interests.A Effective immediately, the Company will cease to carry on business except as may be required to wind up the business and affairs of the Company.Shareholder Approval The Board will call a special meeting of shareholders of the Company (the "Meeting") for December 9, 2019 to approve the dissolution of the Company. For the dissolution to proceed, the dissolution resolution must be approved by way of a special resolution passed by at least two-thirds of the votes cast by the Company's shareholders in person or by proxy at the Meeting.Dissolution Process and Distribution Upon receipt of the required shareholder approvals, the Company will settle all of the assets of the Company and pay all of the liabilities of the Company, and distribute any remaining assets of the Company rateably to the shareholders of record as of the date of dissolution of the Company. The Company will then be dissolved. This process will be further described in the management information circular for the Meeting.
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