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EMX Royalty Executes Agreement to Sell the Tomtebo and Trollberget VMS Projects in Sweden to District Metals
Vancouver, British Columbia--(Newsfile Corp. - February 28, 2020) - EMX Royalty Corporation (...
About this update from District Metals Corp.
[{"type":"text","content":"EMX Royalty Executes Agreement to Sell the Tomtebo and Trollberget VMS Projects in Sweden to District MetalsVancouver, British Columbia--(Newsfile Corp. - February 28, 2020) - EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the \"Company\" or \"EMX\") is pleased to announce the execution of an agreement for the sale of the Tomtebo and Trollberget polymetallic projects (the \"Projects\") in Sweden to District Metals Corp. (TSXV: DMX) (\"District\"). The agreement provides EMX with a 9.9% equity interest in District, annual advance royalty payments, 2.5% Net Smelter Returns (\"NSR\") royalty interests in the Projects, and other considerations.The Tomtebo and Trollberget Projects are located in the prolific Bergslagen mining region of southern Sweden. The Projects host multiple zones of polymetallic (copper-zinc-lead-silver-gold) volcanogenic massive sulfide (\"VMS\") style mineralization, and are located in the vicinity of the historic Falun VMS mine and Boliden AB's active Garpenberg mine, one of the largest and most efficient underground polymetallic mines in the world (see attached Figure 1 and Table 1)1. Tomtebo was the site of historic copper production, with mine workings extending to a depth of 200 meters. A historic mineral resource was defined at Tomtebo in the 1980's based upon the exploration work conducted at the 200 meter level, with drill core from the exploration programs available for inspection in the national core archive in Malå, Sweden. The nearby Trollberget license also has outcropping zones of polymetallic mineralization, with little historic exploration documented for the property. See www.EMXroyalty.com for further information on the Projects.The agreement with District represents another example of the execution of EMX's royalty generation aspect of its business model, whereby the Projects were acquired by EMX during regional reconnaissance work in 2017, advanced using EMX's in-country technical expertise, and are now partnered with District. EMX will receive cash, equity in District, and royalty interests in the Projects. EMX looks forward to working closely with District to further advance the Projects.Commercial Terms Overview. In accordance with the agreement, District will acquire 100% interests in the Projects subject to the following terms (all dollar amounts in CAD, unless otherwise...