Montreal, April 6, 2022 (GLOBE NEWSWIRE) — Monarch Mining Co., Ltd. (“”Monarch” or “Ltd”) (TSX: GBAR) (OTCQX: GBARF) has announced the end of the previously announced transaction with Gold Loyalty Corporation (“).Gold royalties(NYSE: GROY) As a result, Gold Loyalty has acquired the following royalty interests from Monarch and eliminated the following repurchase of C $ 4.5 million in cash income (“NYSE: GROY).transaction“)::
- (I) An additional charge of $ 1.25 CAD per ton for all materials processed at the Beacon Factory originating from Beau for Mine, as well as Croinor Gold, McKenzie Break, Swanson assets, and Corporation’s future assets.
- (Ii) Additional 0.25% net smelter revenue (“NSR”) Loyalty for Mackenzie Break, Cloiner Gold and Swanson properties.When
- (Iii) Elimination of 1.25% royalty repurchase on McKenzie Break, Croinor Gold, and Swanson properties.
Laurentian Bank of Securities served as Monarch’s financial advisor in connection with the transaction.
About Gold Loyalty
Gold Royaly Corp. is a gold-focused loyalty company that provides creative financing solutions for the metal and mining industries. Its mission is to build a balanced portfolio that earns royalties, streams, and similar profits at various stages of the mine’s life cycle, providing investors with attractive short-term, medium-term, and long-term returns. Is to do. Gold Loyalty’s diverse portfolio now consists of net smelter return royalties on gold assets in the Americas.
Monarch Mining Corporation (TSX: GBAR) (OTCQX: GBARF) is a fully integrated mining company that owns four projects, including Beau for Mine, which has produced over 1 million ounces of gold over the last 30 years. Other assets include properties of Cloiner Gold, Mackenzie Break and Swanson. All of these are near Monarch’s fully owned 750tpd Beacon Mill.Monarch owns 29,504 hectares (295 km)2) 478,982 ounces of measured and displayed gold resources plus 383,393 ounces of estimated resources host the prolific Abitibi mining camp mining assets.
Description of future prospects
The forward-looking statements in this press release are known that Monarch’s actual results, performance, and outcomes may differ materially from those shown or implied therein. And includes unknown risks, uncertainties, and other factors. Neither TSX nor its regulatory service provider (the term is defined in TSX policy) is responsible for the validity or accuracy of this press release.
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Monarch Mining Corporation announces completion of $ 4.5 million transaction with Gold Loyalty Corporation of Canadian Business Journal
Source link Monarch Mining Corporation announces completion of $ 4.5 million transaction with Gold Loyalty Corporation of Canadian Business Journal