Empress Announces Upsize of Its Previously Announced Bought Deal Public Offering to C$15 Million
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NEWS RELEASE │ MARCH 17, 2021 │ VANCOUVER, BC
EMPRESS ANNOUNCES UPSIZE OF ITS PREVIOUSLY ANNOUNCED
BOUGHT DEAL PUBLIC OFFERING TO C$15 MILLION
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
Empress Royalty Corp. (TSXV:EMPR │ OTCQB:EMPY F) (“Empress” or the “Company”) is pleased
to announce that due to significant demand, the Company has increased the gross proceeds of
the previously announced bought deal public offering (the “ Offering”) from C$ 12 million to
C$15 million. Under the revised Offering, the Underwriters have agreed to purchase for resale
30 million units of the Company (the “Units”) at a price of C$0.50 per Unit (the “Offering Price”)
on a “bought deal” basis . Each Unit shall be comprised of one common share in the capital of
the Company (each a “ Common Share”) and one half of one c ommon share purchase warrant
(each a “ Warrant”). Each whole Warrant shall be exercisable into one c ommon share (a
“Warrant Share”) at a price of C$ 0.75 at any time on or before the date which is 24 months
after the closing date of the Offering. The revised Offering is being led by Red Cloud Securitie s
Inc. and Canaccord Genuity Corp. act ing as co-lead underwriters and joint bookrunners on
behalf of a syndicate of underwriters including Mackie Research Capital Corp . (collectively, the
“Underwriters”).
As part of the revised agreement, t he Company has granted the U nderwriters an over-
allotment option, exercisable at any time up to 30 days from and including the closing date, to
purchase for resale up to 4.5 million additional Units at the O ffering Price to raise additional
gross proceeds of up to C$2.25 million.
The net proceeds from the Offering will be used for acquisitions and general corporate
purposes. The Units will be offered pursuant to a base shelf prospectus dated February 4, 2021
and a prospectus supplement to be filed in all provinces of Canada with the exception of
Quebec. The Offering is scheduled to close on or about March 25, 2021 and is subject to certain
conditions, including, but not limited to, the receipt of all necessary regulatory and other
approvals, including the approval of the listing and trading of the Common Shares , Warrants
and the Warrant Shares on the TSX Venture Exchange.
In addition to the Offering, the Company is conducting a non -brokered private placement (the
“Private Placement ”) to raise an additional $0.65 million from the sale of an additional 1.3
million Units. The Units will have the same terms as the Un its sold in the Offering, the net
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proceeds from the Private Placement will be used for the same purposes as the Offering
proceeds, and the closing of the Private Placement will happen concurrently with the closing of
the Offering. The Private Placement is subject to certain conditions, including the approval of
the listing and trading of the Common Shares, Warrants and the Warrant Shares on the TSX
Venture Exchange
The securities to be offered pursuant to the Offering have not been, and will not be, registered
under the U.S. Securities Act of 1933, as amended (the " U.S. Securities Act ") or any U.S. state
securities laws, and may not be offered or sold in the United States or to, or for the account or
benefit of, United States persons absent registrati on or any applicable exemption from the
registration requirements of the U.S. Securities Act and applicable U.S. state securities laws.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy
securities in the United States, nor shall there be any sale of these securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
ABOUT EMPRESS ROYALTY CORP.
Empress is a new precious metals royalty and streaming company focused on the creation of
unique financing solutions for mining companies. Empress has a portfolio of 15 investments and
is actively focused on finding industry partners with development and production stage projects
who require additional non- dilutive capital. The Company has strategic partnerships with
Endeavour Financial in London, Terra Capital in Australia and Accendo Banco in Mexico which
allow Empress to not only access global investment opportunities but also bring unique mining
finance expertise, deal structuring and acces s to capital markets. Empress is looking forward to
continuously creating value for its shareholders through the proven royalty and streaming
models.
ON BEHALF OF EMPRESS ROYALTY CORP.
Per: Alexandra Woodyer Sherron, CEO and President
For further information, please visit our website at www.empressroyalty.com or contact
Alexandra Woodyer Sherron, CEO and President, by phone at +1.604.331.2080 or email at
CAUTIONARY STATEMENT:
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains statements about Empress’ expectations which are forward- looking in nature and, as a
result, are subject to certain risks and uncertainties. Generally, forward- looking statements can be identified by the
use of forward -looking terminology such as “expects”, “believes”, “antic ipates”, “aims to”, “plans to” or “intends
to” or variations of such words and phrases or statements that certain actions, events or results “will” occur.
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Although Empress believes that the expectations reflected in these forward -looking statements are r easonable,
undue reliance should not be placed on them as actual results may differ materially from the forward -looking
statements. Factors that could cause the actual results to differ materially from those in forward -looking
statements include the clos ing of the Offering, the exercise of the Over -Allotment Option, Empress not being
successful in identifying suitable investment opportunities, being able to successfully complete technical, financial
or legal diligence in respect of investment opportunities it has identified, or being able to negotiate and enter into
binding agreements for royalty or stream deals with potential counterparties. Readers are referred to the risk
factors and contained in Empress' most recent annual information form for a description of the principal risks
affecting Empress, its business and its securities. The forward- looking statements contained in this news release
are made as of the date hereof, and Empress undertakes no obligation to update publicly or revise any forward-
looking statements or information, except as required by law. Readers should not place undue reliance on forward-
looking statements or information.