Empress Royalty Corp. Empress Royalty Increases Gold Stream
September 30 2021 - 5:59AM
RNS Non-Regulatory
TIDMEMPR
Empress Royalty Corp.
30 September 2021
NEWS RELEASE | SEPTEMBER 30, 2021 | VANCOUVER, BC
EMPRESS ROYALTY INCREASES GOLD STREAM ON SIERRA ANTAPITE MINE
AND SEEKS NEW DEBT PROVIDER
Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) ("Empress
Royalty" or the "Company") is pleased to announce it is funding an
additional payment of US$2.5M gold stream agreement (the "Stream")
on the Sierra Antapite producing gold mine in Peru.
"The result of increasing the stream from 2.25% to 3.375% of the
Sierra Antapite gold production will provide immediate additional
revenue into Empress," stated Alexandra Woodyer Sherron, CEO and
President of Empress Royalty. "With the increase in revenue
combined with our development stage projects advancing on schedule,
we are forecasting significant revenue next year. We continue to
build the fundamentals of our business with a diversified portfolio
and a robust pipeline creating value for our shareholders."
As previously announced on July 28, 2021, Empress Royalty
executed 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 up to 4.5% of the payable gold production
of the first 11,000 gold ounces and 1% thereafter for life of mine.
Empress Royalty initially funded US$5M in exchange for receiving an
immediate stream percentage of 2.25% and retained the right to fund
an additional US$5M in order to receive the remaining 2.25% stream
percentage. Empress Royalty and Sierra Antapite have now agreed
that the Stream may be funded in three tranches instead of two.
Accordingly, Empress Royalty is funding an additional US$2.5M on
September 30, 2021, which has resulted in the Stream being 75%
funded and Empress Royalty receiving 3.375% of all gold production
from the mine.
Empress Royalty is no longer pursuing discussions with Accendo
Banco respecting potential debt financing (see press release dated
August 31, 2021). The Company is currently in discussions with
alternative financial groups to provide a debt facility on terms
substantially similar terms to those it was negotiating with
Accendo Banco. Empress Royalty will provide further updates as they
are known.
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 Royalty's
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 Royalty 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
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, actual production by
companies in our portfolio meeting anticipated production;
volatility in the price of gold and silver, risks inherent in the
mining industry to which the companies in our portfolio are
subject, the impact of the current COVID-19 pandemic on the
companies in our portfolio, activities by governmental authorities
(including changes in taxation), currency fluctuations and the
accuracy of the mineral reserves, resources and recoveries set out
in the technical data published by the companies in our portfolio.
Although management of the Company has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking statements,
there may be other factors that cause results not to be as
anticipated, estimated or intended. Readers are referred to the
risk factors and contained in Empress Royalty's' most recent annual
information form for a description of the principal risks affecting
Empress Royalty, its business and its securities. The
forward-looking statements contained in this news release are made
as of the date hereof, and Empress Royalty 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.
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