Vox Announces Record Preliminary 2021 Revenue, Application FOR NASDAQ Listing and Corporate Update
VOX ANNOUNCES RECORD PRELIMINARY 2021 REVENUE,
APPLICATION FOR NASDAQ LISTING AND CORPORATE UPDATE
TORONTO, CANADA – March 10, 2022 – Vox Royalty Corp . (TSXV: VOX) (“Vox” or the “Company”), a high growth
precious metals focused royalty company, is pleased to provide a number of corporate updates to its shareholders.
Kyle Floyd, Chief Executive Officer stated: “We are pleased to share a number of exciting developments with Vox shareholders,
including a potential secondary listing of Vox common shares on the Nasdaq and record preliminary 2021 annual revenue. The
Company has grown tremendously since its initial public listing in May 2020 and is embarking on its next chapter of growth via a
secondary listing. We expect enhanced trading liquidity in the US market will be a key step for Vox to continue delivering on its
differentiated strategy of exponential growth and sector-leading returns on capital invested.”
Q4 and Annual 2021 Preliminary Record Revenue
The Company is pleased to announce that it has realized preliminary quarterly royalty revenue of C$728,000 (US$574,200) (1) for
the three-month period ended December 31, 2021. The Company is also pleased to report that its preliminary annual royalty revenue
for the year ended December 31, 2021 was C$4,584,000 (US$3,651,700)(1), a preliminary revenue record in the Company’s 8 year
history. Noting the Company’s original 2021 revenue forecast of C$1,700,000 – C$2,500,000 and its subsequent increase to
C$4,000,000 – C$5,000,000 on July 27, 2021, Vox management is pleased to deliver on its revenue forecasts as anticipated.
Quarterly, year to date, and annual revenue guidance figures are summarized in the below table:
Three months ended
December 31, 2021
Twelve months ended
December 31, 2021
(Fiscal 2021)
2021 Annual
Guidance
Royalty revenue (C$) $728,000 $4,584,000 $4,000,000 – $5,000,000
Royalty revenue (US$) $574,200(1) $3,651,700(1) $3,200,000 – $4,000,000
Application for NASDAQ Listing
The Company is pleased to announce that it has submitted an initial application to list its common shares on The Nasdaq Stock
Market (“Nasdaq”) in order to support the Company’s ongoing capital markets and liquidity enhancement initiatives.
Pursuing a Nasdaq listing provides the Company with further opportunities to broaden its institutional and retail investor base and
enhance the Company’s visibility. Vox anticipates that a secondary listing will provide further exposure to the US trading and
investor market and ultimately improve the Company’s overall profile and enhance shareholder value. Analysis conducted by Vox
management and its financial advisors suggests companies with secondary listings on US main board exchanges have historically
resulted in improved trading liquidity for other small and medium- cap royalty companies.
The listing of Vox’s common shares on Nasdaq remains subject to satisfaction of all applicable listing and regulatory requirements,
including, but not limited to, the declaration of effectiveness of the Company’s 40-F Registration Statement registering its common
shares with the United States Securities and Exchange Commission (the “SEC”). The Company has already completed the process
to ensure its common shares are eligible for electronic clearing and settlement through the Depository Trust Company (DTC).
Vox’s common shares will continue to trade on the OTCQX under the ticker symbol “VOXCF” until Nasdaq approval and
subsequent commencement of trading . Vox will also continue to maintain the listing of its common shares on the TSX Venture
Exchange under the trading symbol “VOX”.
Appointment of Auditors
The Company is pleased to announce the appointment of Ernst & Young LLP (“ E&Y”) as its independent registered public
accounting firm effective March 9, 2022. E&Y will conduct the audit of the Company ’s consolidated financial statements for the
year ended December 31, 2021, which will support the anticipated listing of Vox ’s common shares on the Nasdaq. Following an
evaluation process conducted by the Company and its Board of Directors, it was determined that appointing E&Y would permit
the Company to pursue registration with the SEC and ultimately a secondary listing on the Nasdaq on a preferred timeline.
The Company ’s decision to change its auditor was not the result of any disagreement between the Company and
PricewaterhouseCoopers LLP on any matter of accounting principles or practices, financial statement disclosure, or auditor scope
or procedure.
Option Grants
As part of its ordinary course annual management performance reviews, the Company has granted an aggregate of 263,548
restricted share units (“RSUs”) to directors, officers and employees of Vox. The RSUs vest in equal parts on each of September 9,
2022, March 9, 2023, September 9, 2023, and March 9, 2024. Each RSU entitles the holder to receive one common share of the
Company. The Company has reserved up to 263,548 common shares for issuance on the exercise of the RSUs.
The Company has also granted an aggregate of 804,158 stock options to officers and employees of Vox. The stock options have an
exercise price of C$4.16 per share, a five-year term from the date of grant and vest in equal parts on each of September 9, 2022,
March 9, 2023, September 9, 2023, and March 9, 2024. The Company has reserved up to 804,158 common shares for issuance on
the exercise of the stock options.
About Vox
Vox is a high growth precious metals royalty and streaming company with a portfolio of over 50 royalties and streams spanning
eight jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused
transactional team and a global sourcing network which has allowed Vox to become the fastest growing company in the royalty
sector. Since the beginning of 2019, Vox has announced over 20 separate transactions to acquire over 45 royalties.
Further information on Vox can be found at www.voxroyalty.com.
For further information contact:
Kyle Floyd
Chief Executive Officer
+1-345-815-3939
Pascal Attard
Chief Financial Officer
+1-345-815-3939
Cautionary Note Regarding Forward Looking Information
This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to
predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always,
using words or phrases such as “expects” or “does not expect”, “is expected”, “anticipates” or “does not anticipate” “plans”,
“estimates” or “intends” or stating that certain actions, events or results “ may”, “could”, “would”, “might” or “will” be taken,
occur or be achieved) are not statements of historical fact and may be “forward-looking statements”. Forward-looking statements
are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected
in the forward-looking statements.
The forward-looking statements and information in this press release include, but are not limited to , Vox’s anticipated financial
results for its 2021 fiscal year, secondary listing of Vox common shares on the Nasdaq, completion of certain anticipated
milestones, transactions and developments by the operators of certain underlying projects and mines in respect of Vox’s royal ty
and stream portfolio, future financial reporting by Vox, the receipt of payments from Vox’s mining royalty and streaming portfolio,
and the completion of mine construction, production and expansion under construction phases at the mines or properties that Vox
holds an interests in.
Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable
and assumptions that, while believed by management to be reasonable, are inherently subject to significant bus iness, economic
and competitive uncertainties and contingencies. Forward -looking statements and information are subject to various known and
unknown risks and uncertainties, many of which are beyond the ability of Vox to control or predict, that may cause Vox’s actual
results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based
on assumptions about such risks, uncertainties and other factors set out herein, including but not limited to: the requirement for
regulatory approvals and third party consents, the impact of general business and economic conditions, the absence of control
over the mining operations from which Vox will receive royalties, including risks related to international operat ions, government
relations and environmental regulation, the inherent risks involved in the exploration and development of mineral properties; the
uncertainties involved in interpreting exploration data; the potential for delays in exploration or developme nt activities; the
geology, grade and continuity of mineral deposits; the impact of the COVID -19 pandemic; the possibility that future exploration,
development or mining results will not be consistent with Vox’s expectations; accidents, equipment breakdowns, title matters, labor
disputes or other unanticipated difficulties or interruptions in operations; fluctuating metal prices; unanticipated costs an d
expenses; uncertainties relating to the availability and costs of financing needed in the future; the inh erent uncertainty of
production and cost estimates and the potential for unexpected costs and expenses, commodity price fluctuations; currency
fluctuations; regulatory restrictions, including environmental regulatory restrictions; liability, competition, loss of key employees
and other related risks and uncertainties. Should one or more of these risks, uncertainties or other factors materialize, or should
assumptions underlying the forward -looking information or statement prove incorrect, actual results may vary materially from
those described herein as intended, planned, anticipated, believed, estimated or expected. Vox cautions that the foregoing li st of
material factors is not exhaustive. When relying on the Company’s forward-looking statements and information to make decisions,
investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
Vox has assumed that the material factors referred to in the previous paragraph will not cause such forward looking statements
and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject
to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The
forward-looking information contained in this press release represents the expectations of Vox as of the date of this press release
and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information
and should not rely upon this information as of any other date. While Vox may elect to, it does not undertake to update this
information at any particular time except as required in accordance with applicable laws.
Neither the T SX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notes:
(1) These figures have not been audited and are subject to change. As the Company has not yet finished its quarter-end close
procedures, the anticipated financial information presented in this press release is preliminary, subject to final quarter -
end closing adjustments, and may change materially.