Mr. David Cole reports
EMX SELLS GENERATIVE ENTERPRISE IN NORDICS FOR CASH AND FUTURE ROYALTY INTERESTS
EMX Royalty Corp. has sold its Nordic operational platform to First Nordic Metals Corp., a current partner of EMX and operator on multiple EMX royalty properties in Sweden and Finland. This strategic divestment will include EMX's infrastructure, exploration equipment and employees in the Nordic countries. EMX views this transaction as highly synergistic, as it will reduce EMX's operational and administrative expenses while providing additional operational capacity for FNM to advance its Gold Line interests in Sweden and its Oijarvi gold project in Finland, where EMX holds royalty interests. EMX will also be granted future royalty interests on projects organically generated by FNM for a period of five years.
Strategic rationale and long-term benefits
This transaction is part of a broader initiative to streamline EMX's global operations and reduce administrative costs while maintaining upside royalty exposure in partner-financed generative exploration efforts. EMX has been conducting generative exploration in the Nordic countries for over 15 years and has generated a broad portfolio of royalties in the region, which will be retained by EMX. In addition, EMX will be granted future royalty interests on projects organically generated by FNM for a period of five years. This transaction fits EMX strategic objectives and provides an operational boost to an existing partner and operator.
Commercial terms
As consideration for the sale, EMX will receive staged payments totalling 3.25 million Swedish kroner (approximately $335,000 (U.S.)) over a period of two years. The payments will be made in equal proportions of cash and the equivalent value in shares of FNM.
Additionally, FNM will grant EMX a 1-per-cent net smelter return (NSR) royalty on any newly generated projects in Sweden and Finland during the next five years.
Dr. Eric P. Jensen, CPG, a qualified person as defined by National Instrument 43-101 and employee of the company, has reviewed, verified and approved the disclosure of the technical information contained in this news release.
About EMX
Royalty Corp.
EMX is a precious and base metals royalty company. EMX's investors are provided with discovery, development and commodity price optionality, while limiting exposure to risks inherent to operating companies.
About FNM
First Nordic Metals is a Canadian-based gold exploration company, with precious metals assets in Sweden and Finland. The company's flagship asset is the Barsele gold project in northern Sweden, a joint venture project with Agnico Eagle Mines Ltd.
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