Vox Acquires Strategic North American Portfolio
Vox Royalty has entered into a binding sale and purchase agreement with Breakwater Resources, and affiliates, to acquire a portfolio of eight royalties on precious metal and base metal assets, located in North America.
Once closed, Vox's portfolio will contain 50 royalties, which has grown by 45 royalties since the start of 2019, demonstrating the company's aggressive acquisition strategy. We expect Vox to continue to grow its portfolio during 2021 as it continues to leverage its own proprietary royalty database and extensive network within the industry.
The total consideration for the acquisition is C$980,002, of which C$455,002 is in cash with C$525,000 to be satisfied through the issue of shares in Vox, issued at the trailing 30-day volume-weighted average price (VWAP) on the closing date of the transaction. Of the eight royalties two are at a development-stage, Montanore (Ag-Cu) and Lynn Lake - MacLellan (Au), and another three are at resource estimate-stage, while the remaining three are earlier-stage exploration assets.
Quick facts: Vox Royalty
Price: 2.38 CAD
Market Cap: $77.51 m
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