Empress Royalty Closes US$15M Accordion Credit Facility With Nebari

Rhea-AI Summary

Empress Royalty Corp. has successfully closed a US$15M Accordion Credit Facility with Nebari Natural Resources Credit Fund I LP, following TSX Venture Exchange approval. The first drawdown of US$4.5M has been funded, and the company has issued 7,500,000 share purchase warrants at an exercise price of $0.27 for a period of two years. Empress Royalty, focused on creating a diversified portfolio of gold and silver investments, has built a portfolio of 17 precious metal investments since its public listing in December 2020.

Positive

• Closed a US$15M Accordion Credit Facility with Nebari.
• Initial draw of US$4.5M is funded.
• Issued 7,500,000 share purchase warrants at $0.27.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / December 23, 2021 / Empress Royalty Corp. (TSXV:EMPR)(OTCQB:EMPYF) ("Empress Royalty" or the "Company") is pleased to report that, upon the receipt of the TSX Venture Exchange approval, it has now closed the US$15M Accordion Credit Facility (the "Accordion Facility") agreement with Nebari Natural Resources Credit Fund I LP ("Nebari") as announced on December 22, 2021.

The Company's initial draw of a US$4.5M loan under the Accordion Facility is now funded. The Company issued 7,500,000 share purchase warrants (the "Warrants") to Nebari. Each Warrant is exercisable into one common share for two years at an exercise price of $ 0.27, subject to a four-month and a day hold period.

ABOUT EMPRESS ROYALTY CORP.

Empress Royalty is a new royalty and streaming creation company focused on providing investors with a diversified portfolio of gold and silver investments. Since publicly listing in December 2020, Empress Royalty has built a portfolio of 17 precious metal investments and is actively investing in mining companies with development and production stage projects who require additional non-dilutive capital. The Company has strategic partnerships with Endeavour Financial and Terra Capital which allow Empress Royalty to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. Empress Royalty is looking forward to continuously creating value for its shareholders through the proven royalty and streaming models.

ON BEHALF OF EMPRESS ROYALTY CORP.

Per: Alexandra Woodyer Sherron, CEO and President

For further information, please visit our website at www.empressroyalty.com or contact Kaitlin Taylor, Investor Communications, by email at info@empressroyalty.com or by phone at +1.604.331.2080.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release contains statements about Empress' expectations regarding the Alliance Agreement which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "believes", "anticipates", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Although Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include Empress Royalty not being successful in or deciding not to pursue opportunities in the royalties business. The forward-looking statements contained in this news release are made as of the date hereof, and Empress undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. Readers should not place undue reliance on forward-looking statements or information.

SOURCE: Empress Royalty Corp.

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https://www.accesswire.com/679448/Empress-Royalty-Closes-US15M-Accordion-Credit-Facility-With-Nebari

FAQ

What is the Accordion Credit Facility closed by Empress Royalty on December 23, 2021?

Empress Royalty closed a US$15M Accordion Credit Facility with Nebari Natural Resources Credit Fund I LP, allowing for an initial draw of US$4.5M.

What are the details of the warrants issued by Empress Royalty?

Empress Royalty issued 7,500,000 warrants exercisable for two years at an exercise price of $0.27.

How many precious metal investments does Empress Royalty have?

Since its public listing in December 2020, Empress Royalty has built a portfolio of 17 precious metal investments.

What is the significance of the US$15M Accordion Facility for Empress Royalty shareholders?

The Accordion Facility provides Empress Royalty with non-dilutive capital to support its portfolio and investment strategies.

When did Empress Royalty announce the closing of the Accordion Credit Facility?

Empress Royalty announced the closing of the Accordion Credit Facility on December 23, 2021.