Business
Hayasa Metals Closes Joint Royalty Agreement with EMX and Franco-Nevada
Vancouver, British Columbia--(Newsfile Corp. - January 22, 2025) - Hayasa Metals Inc. (TSXV: HAY)...
About this update from Hayasa Metals Inc.
[{"type":"text","content":"Hayasa Metals Closes Joint Royalty Agreement with EMX and Franco-NevadaVancouver, British Columbia--(Newsfile Corp. - January 22, 2025) - Hayasa Metals Inc. (TSXV: HAY) (OTCQB: HAYAF) (\"Hayasa\" or the \"Company\") is pleased to announce that it has completed its previously announced sale (see Company news release dated January 7, 2025) of a 1.25% Net Smelter Return (\"NSR\") royalty covering all minerals produced from the Urasar gold-copper project in northern Armenia to Franco-Nevada Corporation (\"FNV\") and EMX Royalty Corporation (\"EMX\"). The NSR was sold for an aggregate cash purchase price of US$1,000,000, with Franco-Nevada contributing US$550,000 and EMX contributing US$450,000. Additionally, each of FNV and EMX were issued 250,000 share purchase warrants, each of which can be exercised to acquire one common share of Hayasa within 18 months following issuance at an exercise price of CAD 0.22. Each of FNV and EMX acquired a 0.625% NSR royalty interest. As part of the transaction, FNV and EMX will have a right of first refusal in respect of any future royalty, stream or similar interest on Urasar. CEO Joel Sutherland comments: \"Thank you to EMX and Franco-Nevada for deploying capital into the Urasar project. The royalty sale proceeds ensure a robust 2025 drilling program at Urasar; which benefits from our 2024 program that consisted of 2,100 meters over 9 holes that will be released to market over the coming weeks. Assays from holes 1 and 2 at Copper Creek and holes 3 and 6 at Golden Vein are expected to be released first week February.Hayasa management is now focused on securing a partner on our other property, Vardenis. As we have no immediate funding needs, we look forward to delivering news of a Vardenis partnership over the coming months.\"Chairman Dennis Moore comments:\"The company thanks EMX and Franco-Nevada for believing in the project. We are in a great position now that Urasar's 2025 drill program is fully funded. We continue to add exceptional partners to our bench and we are deeply appreciative of their support.\"Investors can look forward to assay results on 9 drill holes at Urasar being released over February and March.Omnibus Equity Incentive PlanThe Company's omnibus equity compensation plan (the \"Omnibus Plan\") was approved at the AGM. As part of the plan the Company has granted a total of 4,800,0...