Almadex Minerals Ltd. has finalized a previously announced agreement to sell a portfolio of net smelter return royalties to Empress Royalty Corp.
Breakdown of the payment
Under the terms of the sale, Almadex received $1 million in cash and 2,562,802 common shares issued by Empress. These shares are valued at $1.5 million in total. The stock comes with a statutory hold period of four months and one day, which is required under current securities laws to prevent immediate resale.
The royalty portfolio sold includes various 1.5% and 2.0% net smelter return royalties. These apply to precious and base metal projects located in key regions such as Mexico, British Columbia, Yukon, and Nevada. Almadex, a mineral exploration company operating primarily in the western United States, owns several portable diamond drill rigs. This enables the company to conduct initial exploration drilling in-house, reducing external costs.
Morgan Poliquin, President and CEO of Almadex, commented that this transaction supports the company's strategic goals and is part of its ongoing efforts to streamline operations. Almadex has a focus on base and precious metals, and its approach to exploration has been tailored to maintain efficiency while maintaining a strong project portfolio.
The TSX Venture Exchange and its Regulation Services Provider have not reviewed or approved the information released in this announcement. As per standard practice in such disclosures, the release includes forward-looking statements. These statements reflect Almadex's expectations about its mineral portfolio, royalties, and future operations. However, they are subject to a range of risks and uncertainties.
Potential factors that could impact future outcomes include fluctuations in market prices, success in exploration and exploitation efforts, permitting delays, continued financial support, and the availability of equipment. The company cautions that actual results may differ from its expectations. Readers are advised to assess these uncertainties independently and not to rely solely on the company's statements. Almadex does not have an obligation to update its forward-looking statements except as required by law.
For more information about Almadex, interested parties can contact the company directly at 604.689.7644, via email at info@almadexminerals.com, or by visiting its official website at http://www.almadexminerals.com.