Hayasa Metals Inc. (TSXV: HAY | OTCQB: HAYAF) has announced the sale of a 1.25% net smelter return (NSR) royalty covering all minerals produced from the Urasar gold-copper project in northern Armenia to Franco-Nevada Corporation and EMX Royalty Corporation (EMX), for US$1M cash.
Chairman Dennis Moore commented, “We are very pleased to make this non-dilutive royalty sale to two of the best-known royalty companies in the mining world. This deal has been attained after months of negotiations between the parties and was finalized at the end of 2024. The funds will enable the company to enhance its ongoing exploration programme at Urasar including an expanded drill programme being planned for the 2025 field season and assist with the acquisition of additional nearby ground.”
Franco-Nevada and EMX will pay the company a combined US$1M with Franco-Nevada contributing US$550,000 and EMX contributing US$450,000 in accordance with the terms of a joint acquisition agreement signed between the two companies in August 2023.
Each company will retain a 0.625% NSR royalty interest. The royalty acquisition at Urasar represents the first co-investment between Franco-Nevada and EMX pursuant to their joint acquisition agreement.
Additionally, each company will be issued 250,000 share purchase warrants, which can be exercised on a one-for-one basis for common shares of Hayasa within 18 months following issuance at an exercise price of C$0.22, subject to approval by the exchange.
To find out more, please visit www.hayasametals.com
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