Toronto, Ontario--(Newsfile Corp. - May 11, 2023) - Royalties Inc. (CSE: RI) ("the Company") announces the completion of a portfolio investment in a partial share of a Music Royalties Inc. acquisition of an American Grammy nominated/multi-award-winning music producer and songwriter's interest in the publishing and public performance royalties of songs performed by artists including Britney Spears, Joe, Michael Jackson and R. Kelly, paid by royalty distributors SOCAN and Universal Music Publishing Group (UMPG). The catalog consists of over 300 songs including two # 1 Pop/R&B songs and two Top 10 Pop/R&B songs. The company invested $25,000, through the issuance of 500,000 at $0.05 per share in order to participate in a catalog generating a 9% yield.
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 26 cash-flowing music royalties. MRI is currently paying a monthly dividend generating a 6% annual yield.
Royalties Inc. owns a 100% interest, subject to a 1.5% net smelter royalty repurchased in July 2019, on the Bilbao project 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 to a 2% net smelter royalty on six mining concessions located adjacent to the Cozamin Mine operated by Capstone Mining Corp., which claim is challenged by Capstone.
For further information contact Royalties Inc. at www.royaltiesinc.com.
Tim Gallagher
CEO & Director
(416) 925‐0090
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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 these 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 will be obtained on reasonable terms, or at all; that the Company will not be able to pay dividends in the future; and other risks related to the Company as disclosed in the continuous disclosure 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 contained 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 contained in any other documents 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.
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