Business
Vox Royalty To Acquire Canadian Royalty Portfolio From First Quantum Minerals
TORONTO, Nov. 10, 2022 /CNW/ - Vox Royalty Corp. (TSXV: VOX) (NASDAQ: VOXR) ("Vox" or the "Company") a returns-focused mining royalty company, is pleased to ann
About this update from Vox Royalty Corp
[{"type":"text","content":" TORONTO, Nov. 10, 2022 /CNW/ - Vox Royalty Corp. (TSXV: VOX) (NASDAQ: VOXR) (\"Vox\" or the \"Company\") a returns-focused mining royalty company, is pleased to announce that it has executed a binding royalty sale and purchase agreement dated November 9, 2022 with First Quantum Minerals Ltd. (TSX: FM) (\"FQM\"), to acquire rights to a portfolio of up to four Canadian royalties, for total consideration of up to C$650,000. Pursuant to the terms of the purchase and sale agreement, on closing, Vox will issue C$525,000 of Vox common shares, being 164,319 common shares at an issue price of C$3.1950 per common share for the Estrades and Opawica royalties further described below (the \"Transaction\"). Closing of the Transaction remains conditional upon final acceptance by the TSX Venture Exchange. Additional closings and cash payments of C$100,000 (Winston Lake) and C$25,000 (Norbec & Millenbach) will be due and payable following (i) the exercise of separate third-party option agreements, (ii) the issuance of the Winston Lake and Norbec & Millenbach royalties to FQM, and (iii) the assignment of the Winston Lake and Norbec & Millenbach royalties to Vox. Royalty Portfolio Asset Operator Location Stage Royalty Estrades Galway Metals Inc Québec, Canada Engineering Studies 2.0% NSR(a) Opawica Imperial Mining Group Ltd Québec, Canada Exploration 0.49% NSR Winston Lake Metallum Resources Inc Ontario, Canada Exploration 2% NSR(1% buyback for C$3.0M)(b) Norbec &Millenbach Falco Resources Ltd Québec, Canada Exploration 2% NSR(c) (a) Vox notes that the Estrades royalty covers only a portion of the Estrades Project. (b) Vox holds the right to acquire the royalty issued to FQM upon Metallum exercising its option to acquire the property from FQM. (c) Vox holds the right to acquire the royalty issued to FQM upon Falco exercising its option to acquire the property from FQM. Spencer Cole, Chief Investment Officer - stated: \"We are very excited to be expanding our Canadian royalty portfolio with the addition of up to four royalties in Québec and Ontario. The Estrades royalty adds fantastic longer-term potential to Vox shareholders as there are very few zinc-gold deposits globally which also contain gold grades in excess of 3 g/t. We look forward to seeing how the Estrades restart studies progress as well as seeing whether the Winst...