Latest news with #SilverCrownRoyalties
Yahoo
01-08-2025
- Business
- Yahoo
PPX Mining Corp. Amends Second Tranche Payment Terms of Silver Royalty Agreement With Silver Crown Royalties Inc.
TORONTO, ON / / August 1, 2025 / PPX Mining Corp. (TSXV:PPX.V)(BVL:PPX)(the "Company" or "PPX") has, together with Silver Crown Royalties Inc. (CBOE:SCRI)(OTCQX:SLCRF)(FRA:QS0) ("SCR"), yesterday amended certain terms of the silver royalty agreement between the Company and SCR originally dated December 13, 2024 (the "Silver Royalty Agreement" and the amendment thereto referred to as the "Amendment"). The second tranche price of the Silver Royalty Agreement in the amount of US$1,470,000, originally payable by SCR to PPX on or before August 6, 2025, has been amended in order to split the payment obligation in two and extend the time by which the total amount of US$1,470,000 must be paid. In connection with these amendments, a total of US$833,000 of the second tranche payment has been paid by SCR to PPX, and the remaining US$637,000 will be payable on or before December 31, 2025. Proceeds will be used by PPX to support its ongoing construction of the CIL and flotation plant at the Company's Igor project, located in La Libertad, Peru (the "Beneficiation Plant"). In connection with the split of the second tranche payment obligations and the partial payment made by SCR, the royalty percentage and total payable ounces to which SCR is entitled under the Silver Royalty Agreement have been increased pro rata by the amount paid (relative to the total amount payable), by 5.1% (to a total of 11.1%), and 76,500 ounces of silver (to an aggregate total of 166,500 ounces of silver), respectively. Upon payment by SCR to PPX of the remainder of the second tranche price (being US$637,000), the royalty percentage and total payable ounces will increase by an additional 3.9% (to a total of 15%) and 58,500 ounces of silver (to an aggregate total of 225,000 ounces of silver) respectively, as originally contemplated in the Silver Royalty Agreement. In consideration of the splitting and extension of the second tranche payment, the parties also amended the Silver Royalty Agreement to extend the date by which the minimum silver royalty that SCR is entitled to receive under the Silver Royalty Agreement will commence, from the original date of October 1, 2025, to March 31, 2026 (subject to earlier commencement upon startup of metallurgical operations at the Beneficiation Plant). Further details regarding the Silver Royalty Agreement can be found in the Company's press releases dated December 16, 2024 and February 6, 2025 announcing closing of the First Tranche. A copy of the Royalty Agreement is available, and a copy of the Royalty Amendment will shortly be available, on the Company's SEDAR+ profile at About PPX Mining Corp:PPX Mining Corp. is a Canadian-based mining company with assets in northern Peru. Igor, the Company's 100%-owned flagship gold and silver project, is located in the prolific Northern Peru gold belt in eastern La Libertad Department. On behalf of the Board of DirectorsJohn ThomasChief Executive Officer82 Richmond Street EastToronto, Ontario M5C 1P1Canada416-361-0737 Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Cautionary Statement Regarding Forward-Looking Statements:This press release contains forward-looking information and forward-looking statements (collectively, "forward-looking statements") as such terms are defined by applicable securities laws, including, but not limited to statements regarding the expected closing of the second portion of the second tranche payment, expected use of proceeds to support the Company's construction activities, and future plans. Forward-looking statements are statements that relate to future events. In this context, forward-looking statements often address expected future business plans and financial performance and often contain words such as "anticipate," "believe," "plan," "estimate," "expect," and "intend,", statements that an action or event "may," "might," "could," "should," "would" or "will" be taken or occur, or other similar expressions. Forward-looking statements are subject to a number of known and unknown risks and uncertainties, many of which involve factors or circumstances that are beyond the Company's control, and the Company's actual results could differ materially from those stated or implied in forward-looking statements due to many various factors. Such uncertainties and risks include, among others, delays in closing the second portion of the second tranche payment when anticipated, or at all, as well as risks inherent to production and the Company's construction activities. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee that the events and circumstances reflected in the forward-looking statements will be achieved or occur. The timing of events and circumstances and actual results could differ materially from those projected in the forward-looking statements. Accordingly, one should not place undue reliance on forward- looking statements. All forward-looking statements contained in this press release are made as of today's date, and the Company undertakes no obligation to update or publicly revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by law. SOURCE: PPX Mining Corp. View the original press release on ACCESS Newswire
Yahoo
14-07-2025
- Business
- Yahoo
Silver Crown Royalties Closes Final Tranche of Its Non-Brokered Private Placement
TORONTO, ONTARIO - July 14, 2025 (NEWMEDIAWIRE) - Silver Crown Royalties Inc. ("Silver Crown", "SCRi", the "Corporation", or the "Company") (Cboe:SCRI; OTCQX:SLCRF; FRA:QS0) is pleased to announce that the Company has successfully closed the final tranche ("Final Tranche") of its non-brokered offering of units ("Units") that was previously announced on May 20, 2025 (the "Offering") and issued 132,693 Units at a price of C$6.50 per Unit, for gross proceeds of approximately C$862,505.50. Each Unit consists of one common share ("Common Share") and one Common Share purchase warrant ("Warrant"), with each Warrant exercisable to acquire one additional Common Share at an exercise price of C$13.00 for a period of three years from the closing date. A total of 235,531Units were issued in accordance with the Offering for cumulative gross proceeds of C$1,530,951.50. The proceeds from the Final Tranche will be used to fund the Company's silver royalty acquisition on the Igor 4 project in Peru, as well as general and administrative expenses. All securities issued are subject to a statutory hold period of four months plus one day from the date of issuance, in accordance with applicable securities legislation. The closing was subject to customary conditions, including the approval of Cboe Canada Inc. ABOUT SILVER CROWN ROYALTIES INC. Founded by industry veterans, Silver Crown Royalties (Cboe: SCRI | OTCQX: SLCRF | BF: QS0) is a publicly traded, silver royalty company. Silver Crown (SCRi) currently has four silver royalties of which three are revenue-generating. Its business model presents investors with precious metals exposure that allows for a natural hedge against currency devaluation while minimizing the negative impact of cost inflation associated with production. SCRi endeavors to minimize the economic impact on mining projects while maximizing returns for shareholders. For further information, please contact: Silver Crown Royalties Bures, Chairman and CEOTelephone: (416) 481-1744Email: pbures@ FORWARD-LOOKING STATEMENTS This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. Forward-looking statements and information include, but are not limited to, SCRi anticipates that Elk Gold will pay this residual amount owing on or before March 31, 2025. 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 business, economic and competitive uncertainties and contingencies. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual actions, events or results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: the impact of general business and economic conditions; the absence of control over mining operations from which SCRi will purchase gold and other metals or from which it will receive royalty payments and risks related to those mining operations, including risks related to international operations, government and environmental regulation, delays in mine construction and operations, actual results of mining and current exploration activities, conclusions of economic evaluations and changes in project parameters as plans continue to be refined; accidents, equipment breakdowns, title matters, labor disputes or other unanticipated difficulties or interruptions in operations; SCRi's ability to enter into definitive agreements and close proposed royalty transactions; the inherent uncertainties related to the valuations ascribed by SCRi to its royalty interests; problems inherent to the marketability of gold and other metals; the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; industry conditions, including fluctuations in the price of the primary commodities mined at such operations, fluctuations in foreign exchange rates and fluctuations in interest rates; government entities interpreting existing tax legislation or enacting new tax legislation in a way which adversely affects SCRi; stock market volatility; regulatory restrictions; liability, competition, the potential impact of epidemics, pandemics or other public health crises on SCRi's business, operations and financial condition, loss of key employees. SCRi has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information. SCRi undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. This document does not constitute an offer to sell, or a solicitation of an offer to buy, securities of the Company in Canada, the United States or any other jurisdiction. Any such offer to sell or solicitation of an offer to buy the securities described herein will be made only pursuant to subscription documentation between the Company and prospective purchasers. Any such offering will be made in reliance upon exemptions from the prospectus and registration requirements under applicable securities laws, pursuant to a subscription agreement to be entered into by the Company and prospective investors. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements. CBOE CANADA DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
