EMX Royalty Provides an Update on
IGC's Sale of the Malmyzh
Copper-Gold Porphyry Project
Vancouver, British Columbia --
October
2, 2018 -- InvestorsHub
NewsWire -- EMX Royalty Corporation
(the
"Company"
or
"EMX")
(TSX Venture: EMX; NYSE American:
EMX) is
pleased to provide an update
on the
sale
of the
Malmyzh
copper-gold porphyry
project ("Malmyzh")
to
Russian Copper Company ("RCC"). EMX has learned
from IG Copper LLC
("IGC")
that
all
condition precedents to complete the sale, as defined in
the Share Purchase
Agreement[1],
have been fulfilled, and the US $200
million completion consideration has been paid into
escrow. The
final
step towards
closing is notification
by the
Russian
authorities
that
ownership of the Russian
subsidiary holding the Malmyzh
licenses
has been
transferred to RCC. IGC has indicated that this last step
should
occur
within the next five to ten days.
The
estimated
value of the Malmyzh
transaction to EMX's
interest in IGC, net of financial arrangements, is over US $68
million. Scotiabank Europe
plc, the U.K. subsidiary of The Bank of Nova Scotia,
is
an advisor to IGC
regarding the transaction.
About EMX. EMX leverages asset
ownership and exploration insight into partnerships that advance
our mineral properties, with EMX receiving pre-production payments
and retaining royalty interests. EMX complements its royalty
generation initiatives with royalty acquisitions and strategic
investments.
About IGC. IGC, a privately held
company, is led by President and CEO Thomas E. Bowens, and includes
key personnel with a track record of exploration discovery and
project development in the Russian Far East.
-30-
For further
information contact:
David M.
Cole
President
and Chief Executive Officer
Phone:
(303) 979-6666
Email:
Dave@EMXroyalty.com
Scott Close
Director of Investor Relations
Phone: (303) 973-8585
Email: SClose@EMXroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
Forward-Looking
Statements
This news release may contain "forward
looking statements" that reflect the Company's
current expectations and projections about its future results.
These forward-looking statements may include statements
regarding perceived merit of properties, exploration
results and budgets, mineral
reserves and resource estimates, work
programs, capital expenditures, timelines, strategic
plans, market prices for precious and base
metal, or other statements that are not statements of
fact. When used in this news release, words such as
"estimate,"
"intend,"
"expect,"
"anticipate,"
"will", "believe",
"potential" and similar expressions are intended to
identify forward-looking statements, which, by their very nature,
are not guarantees of the Company's future operational or financial
performance, and are subject to risks and uncertainties and other
factors that could cause the Company's
actual results, performance, prospects or opportunities to
differ materially from those expressed in, or implied by, these
forward-looking statements. These risks,
uncertainties and factors may include, but are not limited to:
unavailability of financing, failure to identify commercially
viable mineral reserves, fluctuations in the market valuation for
commodities, difficulties in obtaining required approvals
for the development of a mineral project, increased regulatory
compliance costs, expectations of project funding by joint
venture partners and other factors.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
news release or as of the date otherwise specifically indicated
herein. Due to risks and uncertainties, including the risks and
uncertainties identified in this news release, and other risk
factors and forward-looking statements listed in the Company's
MD&A for the six month period
that ended on June 30,
2018
(the "MD&A"), and the
most recently filed Form 20-F for the year
ended December 31, 2017, actual
events may differ materially from current expectations.
More information about the Company, including the MD&A, the
20-F and financial statements of the Company, is available on SEDAR
at www.sedar.com and on the SEC's EDGAR
website at www.sec.gov.
EMX Royalty Corporation
Suite 501 – 543 Granville Street
Vancouver, British Columbia V6C 1X8
Canada
Tel: (604) 688-6390
Fax: (604) 688-1157
www.EMXroyalty.com
