EMX Completes Its 5 Million Share Normal Course Issuer Bid Program

Rhea-AI Summary

EMX Royalty (NYSE American: EMX) (TSXV: EMX) has successfully completed its Normal Course Issuer Bid (NCIB) program, which was announced on February 7, 2024. The company has purchased and cancelled the maximum allowed 5 million common shares, representing approximately 4.45% of its issued and outstanding shares before the program's commencement.

The shares were acquired at an average price of US$1.65 per share, with a total investment of approximately US$8.3 million. The final transaction included a block trade of 1,375,600 shares from an undisclosed seller at approximately US$1.64 (C$2.35) per share.

Positive

• Successfully completed share buyback program of 5 million shares
• Reduced outstanding shares by 4.45%, potentially increasing value for remaining shareholders
• Demonstrated financial capacity to execute US$8.3M share repurchase program

Negative

• Significant cash outflow of US$8.3M for share repurchases

Vancouver, British Columbia--(Newsfile Corp. - January 8, 2025) - EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the "Company" or "EMX") is pleased to announce it has completed its existing Normal Course Issuer Bid ("NCIB") program announced on February 7, 2024. Under the NCIB, the Company was allowed to purchase for cancellation up to 5,000,000 common shares over a twelve-month period representing approximately 4.45% of the issued and outstanding shares prior to commencement. EMX has purchased for cancellation the full 5,000,000 common shares at an average price of US$1.65 per share totaling approximately US$8.3M including a recently purchased 1,375,600 shares in a block trade from an undisclosed seller at a price of approximately US$1.64 (C$2.35) per share.

About EMX. EMX is a precious and base metals royalty company. EMX's investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies. The Company's common shares are listed on the NYSE American Exchange and TSX Venture Exchange under the symbol "EMX". Please see www.EMXroyalty.com for more information.

For further information contact:

David M. Cole
President and CEO
Phone: (303) 973-8585
Dave@EMXroyalty.com

Isabel Belger
Investor Relations
Phone: +49 178 4909039
IBelger@EMXroyalty.com

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

Forward-Looking Statements

This news release may contain "forward-looking statements" that reflect the Company's current expectations and projections about its future results. These forward-looking statements may include statements regarding perceived merit of properties, exploration results and budgets, mineral reserves and resource estimates, work programs, capital expenditures, timelines, strategic plans, market prices for precious and base metal, or other statements that are not statements of fact. When used in this news release, words such as "estimate," "intend," "expect," "anticipate," "will", "believe", "potential" and similar expressions are intended to identify forward-looking statements, which, by their very nature, are not guarantees of the Company's future operational or financial performance, and are subject to risks and uncertainties and other factors that could cause the Company's actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and factors may include, but are not limited to unavailability of financing, failure to identify commercially viable mineral reserves, fluctuations in the market valuation for commodities, difficulties in obtaining required approvals for the development of a mineral project, increased regulatory compliance costs, expectations of project funding by joint venture partners and other factors.

Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this news release or as of the date otherwise specifically indicated herein. Due to risks and uncertainties, including the risks and uncertainties identified in this news release, and other risk factors and forward-looking statements listed in the Company's MD&A for the quarter ended September 30, 2024 (the "MD&A"), and the most recently filed Annual Information Form ("AIF") for the year ended December 31, 2023, actual events may differ materially from current expectations. More information about the Company, including the MD&A, the AIF and financial statements of the Company, is available on SEDAR at www.sedarplus.ca and on the SEC's EDGAR website at www.sec.gov.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/236472

FAQ

How many shares did EMX repurchase in its completed NCIB program?

EMX repurchased 5 million common shares, representing approximately 4.45% of its issued and outstanding shares prior to the program's commencement.

What was the average price per share paid by EMX in its share buyback program?

EMX paid an average price of US$1.65 per share in its NCIB program.

How much did EMX spend in total on its share buyback program?

EMX spent approximately US$8.3 million in total on its share buyback program.

What was the size of EMX's final block trade in the NCIB program?

The final block trade consisted of 1,375,600 shares purchased at approximately US$1.64 (C$2.35) per share from an undisclosed seller.

When did EMX announce its NCIB program?

EMX announced its NCIB program on February 7, 2024.