Empress Royalty Announces Debt Agreement
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NEWS RELEASE | AUGUST 31, 2021 | VANCOUVER , BC
EMPRESS ROYALTY ANNOUNCES DEBT AGREEMENT
Empress Royalty Corp. (TSXV:EMPR | OTCQB:EMPYF) ( “Empress Royalty” or the “Company”) is
pleased to announce that it has entered into an agreement with Accendo Banco, S.A., Institución
de Banca Múltiple (“ Accendo”) for the provision of a secured medium term bridge loan facility
the (“Facility”) in the amount of US$5.2 million.
“The Facility, in combination with our projected revenue, will expand Empress Royalty’s capacity
to further grow our precious metal portfolio,” stated Alexandra Woodyer Sherron, CEO and
President of Empress Royalty. “This transaction also highlights the unique relationships we have
with our Strategic Partners and we would like to thank Accendo Banco for their continued support
and belief in our long term business strategy.”
The proceeds of the Facility will be used to finance the second tranche of the Company’s Sierra
Antapite stream acquisition (see the Company’s news release of July 28, 2021) and for general
and working capital. Amounts borrowed under the Facility will bear interest at the rate of 11%
per annum. The Facility will be secured via a pledge over the Altaley Mining stream held by
Empress Royalty and potentially by other security. Amounts borrowed under the Facility must
be repaid 24 months from the date of the Facility.
In connection with the Facility, Accendo will be paid an arrangement and ori gination fee of
US$156,000, will be entitled to reimbursement of its expenses, and will be issued 6,500,000 share
purchase warrants to purchase common shares at an exercise price of C$0.40 per share for a two
year term from the date of closing. If amounts borrowed under the Facility are repaid before one
year, the term of the warrants will be reduced on a pro-rata basis to one year in accordance with
the policies of the TSX Venture Exchange.
The Facility is subject to satisfactory completion of due diligence by Accendo, the negotiation of
definitive agreements, receipt of board approvals from Accendo and Empress Royalty and receipt
of TSX Venture Exchange approval.
ABOUT EMPRESS ROYALTY CORP.
Empress Royalty is a new royalty and streaming creation company focused on providing investors
with a diversified portfolio of gold and silver investments . Since publicly listing in December
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2020, Empress Royalty has built a portfolio of 17 precious metal investments and is actively
investing in mining companies with development and production stage projects who require
additional non- dilutive capital. The Company has strategic partnerships with Endeavour
Financial, Terra Capital, and Accendo Banco which allow Empress Royalty to not only access
global investment opportunities but also bring unique mining finance expertise, deal structuring
and access 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 Kaitlin
Taylor, Investor Communications, by email at [email protected] or by phone at
+1.604.331.2080.
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 regarding the Alliance Agreement 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”, “anticipates”,
“aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions,
events or results “ will” occur. Although Empress believes that the expectations reflected in these forward -looking
statements are reasonable, 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 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, being able to negotiate and enter into binding agreements for royalty or stream deals with potential
counterparties, actual production by companies in our portfolio meeting anticipated production; volatility in the price
of gold and silver, risks inherent in the mining industry to which the companies in our portfolio are subject, the impact
of the current COVID-19 pandemic on the companies in our portfolio, activities by governmental authorities (including
changes in taxation), currency fluctuations and the accuracy of the mineral reserves, resources and recoveries set out
in the technical data published by the companies in our portfolio. Although management of the Company has
attempted to identify important factors that could cause actual results to differ materially from those contained in
forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or
intended. Readers are referred to the risk factors and contained in E mpress' 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.