Empress Royalty Receives First Gold Revenue
Empress Royalty Corp. (EMPYF) announced its first revenue from the Sierra Antapite gold mine in Peru, marking a significant milestone just eight months post its public listing. The company has a US$10M gold stream agreement, which involves 20% of the gold spot price for the first 11,000 ounces. The first tranche of US$5M has already been funded, securing 2.25% of the payable gold production. With a diversified portfolio of 17 precious metal investments, Empress aims to create shareholder value through strategic partnerships and a proven royalty and streaming model.
- First revenue received from Sierra Antapite gold mine, establishing Empress as a revenue-generating entity.
- Secured a US$10M gold stream agreement, enhancing revenue potential.
- Strategic partnerships with financial entities to access investment opportunities and expertise.
- None.
VANCOUVER, BC / ACCESSWIRE / August 12, 2021 / Empress Royalty Corp. (TSXV:EMPR)(OTCQB:EMPYF) ("Empress Royalty" or the "Company") is pleased to announce receipt of the first revenue from the Sierra Antapite gold mine in Peru, a deal executed on July 28th.
"Empress Royalty is now a revenue-generating royalty and streaming company", stated CEO Alexandra Woodyer Sherron. "Achieving this milestone only eight months after publicly listing confirms our ability to deliver on our strategy. With a solid portfolio of investments and a strong pipeline, Empress will continue to increase revenue generation with corresponding value creation for our shareholders."
Empress Royalty has a US$10M gold stream agreement on the payable gold production from the Sierra Antapite mine in Peru at 20% of the gold spot price. The Stream is on 4.5% of the payable gold production for the first 11,000 gold ounces and 1% thereafter for life-of-mine. The first tranche of US$5M has been funded which provides Empress Royalty with 2.25% of the payable gold production. The final tranche is anticipated to be completed in the next couple of months (see July 28, 2021 news release).
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, Terra Capital, and Accendo Banco 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 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 not being successful in identifying suitable investment opportunities, being able to successfully complete technical, financial or legal diligence in respect of investment opportunities it has identified, being able to negotiate and enter into binding agreements for royalty or stream deals with potential counterparties. Readers are referred to the risk factors and contained in Empress' most recent annual information form for a description of the principal risks affecting Empress, its business and its securities. 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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FAQ
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