Royalties Inc. Announces Financing
Royalties Inc. Announces Financing
Toronto, Ontario--(Newsfile Corp. - August 21, 2024) -
Royalties Inc. (CSE: RI
) ("the
Company
")
announces a non-brokered private placement up to $210,000 at $0.035 per share for 6,000,000 shares
which will be used primarily to cover the increased cost of audit and tax professional fees in Canada,
property taxes and litigation expenses in Mexico. The strategic investment in Music Royalties Inc. has
generated $129,000 in dividend income since October 2022 plus the income from other cash flowing
royalties has not yet completely covered corporate overhead. Efforts to maximize the value of the Bilbao
silver-zinc-lead project in Mexico in a rising silver price environment are ongoing and the court
proceedings to properly recognize the 2% NSR on the Portree claims which are part of the Cozamin
mine will resume in September.
About Royalties Inc.
Royalties Inc. has a 2% stake in
Music Royalties Inc
. ("MRI"), a Canadian-based private company that
acquires passive music royalties from rightsholders (including but not limited to artists, producers and
songwriters) and currently holds a portfolio of approximately 28 cash-flowing music royalties. MRI is
currently paying a monthly dividend generating a 7.2% annual yield.
Royalties Inc. owns a 100% interest, subject to a 1.5% net smelter royalty repurchased in July 2019, on
the Bilbao
silver-lead-zinc-copper project located in the southeastern part of the State of Zacatecas,
Mexico.
Royalties Inc. owns 88% of the outstanding shares of Minera Portree de Zacatecas, S.A. de C.V
("Minera Portree") which holds an asserted claim (backed by a court approved lien) to a 2% net smelter
royalty on five mining concessions which are part of the Cozamin Mine operated by Capstone Copper
Corp., which claim is challenged by Capstone.
For further information contact Royalties Inc. at
www.royaltiesinc.com
Tim Gallagher
CEO & Director
(416) 925-0090
Connor Gallagher
Investor Relations
(647) 921-2206
Neither the CSE, nor its Regulation Services Provider accepts responsibility for the adequacy or
accuracy of this press release.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable securities
laws. All statements contained herein that are not clearly historical in nature may constitute forward-
looking information. In some cases, forward-looking information can be identified by words or phrases
such as "may", "will", "expect", "likely", "should", "would", "plan", "anticipate", "intend", "potential",
"proposed", "estimate", "believe" or the negative of those terms, or other similar words, expressions,
and grammatical variations thereof, or statements that certain events or conditions "may" or "will"
happen, or by discussions of strategy. Where the Company expresses or implies an expectation or
belief as to future events or results, such expectation or belief is based on assumptions made in good
faith and believed to have a reasonable basis. However, forward-looking statements are subject to
risks, uncertainties, and other factors, which could cause actual results to differ materially from future
results expressed, projected or implied by such forward-looking statements. Such risks include, but
are not limited to: sufficient capital and financing required in order to fulfill the Company's business
plans and strategy may not be obtained as expected; that the Company will not be able to pay future
dividends; and other risks related to the Company as disclosed in the documents filed on the
Company's SEDAR profile at
www.sedar.com
. Accordingly, readers are cautioned not to place undue
reliance on forward-looking statements contained in this press release and they are expressly
qualified in their entirety by this cautionary statement. The forward-looking statements herein are
made as at the date hereof and are based on the beliefs, estimates, expectations, and opinions of
management on such date.
The Company does not undertake any obligation to update publicly or
revise any such forward-looking statements whether as a result of new information, future events or to
explain any material difference between subsequent actual events and such forward-looking
information, except as required under applicable securities law.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/220688