Gold Royalty Corp. Completes Acquisition of Five Gold Royalties on Properties Managed by Monarch Mining Corporation
Gold Royalty Corp. (NYSE American: GROY) has successfully acquired five gold royalty interests from Monarch Mining Corporation (TSX: GBAR, OTCQX: GBARF). The acquisition, valued at C$11.25 million upfront plus an additional C$3.75 million after six months, includes a C$2.50 per tonne royalty on material processed at Monarch's Beacon mill from Beaufor mine, a 2.5% net smelter return (NSR) on three properties, and a 1% NSR on the Beaufor property. This strategic acquisition strengthens Gold Royalty's diversified portfolio in the Americas.
- Strategic acquisition enhances Gold Royalty's portfolio with five royalty interests.
- Total consideration of C$11.25 million plus future C$3.75 million could lead to operational synergies.
- The royalty on the Beacon mill provides a direct revenue stream from the Beaufor mine.
- None.
VANCOUVER, BC, Aug. 5, 2021 /PRNewswire/ - Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce that, further to its news release dated July 23, 2021, it has completed the acquisition of five gold royalty interests on properties managed by Monarch Mining Corporation ("Monarch") (TSX: GBAR) (OTCQX: GBARF).
The royalty interests acquired consist of:
- a C
$2.50 per tonne royalty on material processed through Monarch's Beacon mill originating from the Beaufor mine operations; - a
2.5% net smelter return ("NSR") royalty on each of Monarch's Croinor Gold, McKenzie Break and Swanson properties, each located in Quebec, Canada; and - a
1% NSR on Monarch's Beaufor property, located in Quebec Canada (the "Beaufor NSR") held by Caisse de dépôt et placement du Québec,
Pursuant to the transaction, Gold Royalty paid total consideration of C
About Gold Royalty Corp.
Gold Royalty Corp. is a gold-focused royalty company offering creative financing solutions to the metals and mining industry. Its mission is to acquire royalties, streams and similar interests at varying stages of the mine life cycle to build a balanced portfolio offering near, medium and longer-term attractive returns for its investors. Gold Royalty's diversified portfolio currently consists of net smelter return royalties on gold properties located in the Americas.
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SOURCE Gold Royalty Corp.
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