Empress Royalty Corp (TSX-V:EMPR, OTCQB:EMPYF) said it has secured a new strategic investor, Gleason & Sons LLC, through a series of open market purchases and cross trades.
Gleason & Sons, the family office of Stefan Gleason, a successful entrepreneur in the precious metals investment industry, acquired nearly 7 million common shares in Empress.
In a statement, Stefan Gleason, managing director of Gleason & Sons, expressed his confidence in Empress, commenting: "We look for undervalued royalty companies with low overhead, experienced management teams, and an emphasis on generating near-term cash flows. We believe Empress has identified a sub-sector that has scant access to royalty financing, and the Empress team has the expertise to underwrite these high-yield opportunities along with the commitment to conduct the due diligence needed."
Empress Royalty's CEO & president, Alexandra Woodyer Sherron, welcomed Stefan Gleason as a long-term strategic investor, highlighting his proven track record of success in the precious metals industry.
She said: "We continue to drive growth and build the solid foundation for Empress' future as a leading junior royalty and streaming company."
In addition to the investment news, Empress Royalty also announced the appointment of Michelle Borthwick as its corporate secretary.
Woodyer Sherron expressed her pleasure in working with Borthwick again, noting that: "She brings a wealth of knowledge and experience that I know will be a valued addition to our dynamic team and growth plans."
The company also disclosed the approval of stock options and equity incentive grants by its board of directors. These grants, consisting of incentive stock options and restricted and deferred share units, were awarded to directors, officers, employees, and consultants of the company. The grants are subject to certain vesting conditions and will expire five years from the grant date.
Since its listing in December 2020, Empress Royalty has focused on building a diversified portfolio of gold and silver investments while actively investing in mining companies with development and production stage projects.
The company's strategic partnerships with Endeavour Financial and Terra Capital provide access to global investment opportunities and mining finance expertise. Empress aims to create value for its shareholders through proven royalty and streaming models.
Contact the author at jon.hopkins@proactiveinvestors.com