Empress Royalty Corp (CVE:EMPR) (OTCQB:EMPYF) reported that the TSX Venture Exchange (TSXV) has accepted for listing up to 17.25 million of the company’s common share purchase warrants.
The company noted the warrants are expected to begin trading on the TSXV under the symbol ‘EMPR.WT’ at the market open on March 30.
Empress Royalty said a total of 15,752,500 warrants are presently issued and outstanding, and were issued pursuant to a prospectus offering of 31,505,000 units, which closed on March 25.
READ: Empress Royalty looking for royalties and streaming agreements on development to production stage mining projects
It added the underwriters have 30 days from closing to exercise the remaining portion of the over-allotment option, noting an additional 1,497,500 warrants may be issued if the underwriters exercise the over-allotment option in full.
Each warrant entitles the holder to acquire one common share of the company at an exercise price of C$0.75 until March 25, 2023.
Empress Royalty is a precious metal royalty company with a portfolio of 14 royalties.
The company is focused on writing royalties and streaming agreements on development to production stage mining projects rather than acquiring existing royalties, where there is a higher level of competition and the value generated is, as a result, lower.
Empress is targeting small to mid-tier sized mining and development companies and plans to invest between US$500,000 to US$20 million per deal.
Of the company’s current portfolio of 14 royalties, the most advanced is a 1% net smelter return royalty (NSR) over the Pinos Gold-Silver Project, located in Zacatecas, Mexico.
Contact Sean at sean@proactiveinvestors.com