Business
Empress Provides Update on Tahuehueto Silver Stream Negotiations and Portfolio Creation Initiatives
VANCOUVER, BC / ACCESSWIRE / March 1, 2021 / E mpress Royalty Corp. (TSXV:EMPR)(OTCQ...
About this update from Empress Royalty Corp
[{"type":"text","content":"Empress Provides Update on Tahuehueto Silver Stream Negotiations and Portfolio Creation InitiativesVANCOUVER, BC / ACCESSWIRE / March 1, 2021 / Empress Royalty Corp. (TSXV:EMPR)(OTCQB:EMPYF) (\"Empress\" or the \"Company\") is pleased to provide an update on its ongoing negotiations with Telson Mining Corp (\"Telson\") for the potential acquisition of a silver stream on the Tahuehueto project in Mexico, as well as, providing an update on recent developments in the advancement of Empress' royalty and stream investment pipeline. \"We are delighted to provide this update on the progress at Empress,\" stated Alexandra Woodyer Sherron, CEO and President of Empress. \"Since listing on the TSXV two months ago, Empress has continued to create and identify investment opportunities on cash-generating assets and develop its unique business strategy in the royalty and streaming sector.\" TAHUEHUETO SILVER STREAM NEGOTIATIONSEmpress is now in advanced discussions to acquire a US$5M silver stream (the \"Stream\") on production from Telson's Tahuehueto project in Mexico. The Stream is expected to be on 100% of the payable silver production from Tahuehueto for the first 1,250,000 payable ounces; thereafter, the percentage will step-down to 20% of the payable silver production. A non-binding term sheet outlining the principal terms of the proposed transaction has been executed, and the negotiation of binding agreements is well advanced. Management is optimistic that binding agreements will be finalized and signed, and the transaction will advance to closing in the coming weeks and will provide further updates as appropriate. Telson has announced that its Tahuehueto project is approximately 60% constructed, with initial production forecast for late 2021 and full scale production forecast for early 2022. For further information, please see the Telson Mining Corporate website for more information (www.telsonmining.com).EMPRESS INVESTMENT PIPELINE - RECENT DEVELOPMENTSEmpress recently signed exclusivity agreements with two gold producers, both of which continue to illustrate Empress' portfolio creation strategy. The first agreement is for the creation of a gold stream and royalty package and the second is for the creation of a gold stream. Both proposed investments are subject to completion of due diligence and the negotiation and execution of bindi...