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Betteryear2 on Aug 05, 2021 4:57pm
Completes Acquisition of Five Gold Royalties
VANCOUVER, BC, Aug. 5, 2021 /CNW/ - Gold Royalty Corp. ("Gold Royalty" or the "Company") (NYSE American: GROY) is pleased to announce that, further to its news release dated July 23, 2021, it has completed the acquisition of five gold royalty interests on properties managed by Monarch Mining Corporation ("Monarch") (TSX: GBAR) (OTCQX: GBARF).
The royalty interests acquired consist of:
- a C$2.50 per tonne royalty on material processed through Monarch's Beacon mill originating from the Beaufor mine operations;
- a 2.5% net smelter return ("NSR") royalty on each of Monarch's Croinor Gold, McKenzie Break and Swanson properties, each located in Quebec, Canada; and
- a 1% NSR on Monarch's Beaufor property, located in Quebec Canada (the "Beaufor NSR") held by Caisse de dpt et placement du Qubec,
Pursuant to the transaction, Gold Royalty paid total consideration of C$11.25 million at closing and will pay an additional C$3.75 million upon the six month anniversary of closing.
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