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EMX Closes Final Tranche of Private Placement

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EMX Closes Final Tranche of Private Placement






EMX Royalty Corporation (NYSE American: EMX) (TSX-V: EMX) (FSE: 6E9) is pleased to announce that it has closed the second (final) tranche of its private placement of 6,500,000 units at C$ 3.30 each for gross proceeds of C$ 21,450,000. Under the second tranche, the Company issued 162,653 units, with each unit consisting of one common share of the Company and one-half of one transferable warrant. Each whole warrant entitles the purchase until November 6, 2023 of one common share at C$ 4.00 in the first year and C$ 4.50 in the second year. Gross proceeds raised from the placement totaling C$ 21,450,000 will be used for general corporate purposes.


In connection with the second tranche, the Company paid a 6.0% cash commission and issued 6.0% in compensation warrants (C$ 3,960 and 1,200 compensation warrants) to Raymond James Ltd. Each compensation warrant entitles the purchase until November 16, 2022 of one common share of the Company for C$ 3.50. The shares issued and issuable upon the exercise of warrants in the second tranche are subject to a four-month restricted resale period expiring on March 17, 2022. The Company also paid a 6.0% cash commission and issued 6.0% in compensation warrants (C$ 29,700 and 9,000 compensation warrants, each exercisable until November 6, 2022 for C$ 3.50) to Raymond James Ltd. in the first tranche.


Certain directors and officers of the Company purchased units in the second tranche. Each of their subscriptions constituted a ‘related party transaction’ under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions. There was not sufficient time between such subscriptions and the closing of the second tranche for the Company to file a material change report disclosing such related party transactions with the applicable Canadian Securities Administrators not less than 21 days before the closing. Each of such related party transactions was exempt from the disinterested shareholder approval and valuation requirements of MI 61-101 as the fair market value of each of their subscriptions was less than 25% of the Company’s market capitalization.


This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”), or any U.S. state securities laws and may not be offered or sold within the “United States” or to “U.S. Persons” (as such terms are defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable U.S. state securities laws, or an exemption from such registration is available.


About EMX.

EMX is a precious, base and battery metals royalty company. EMX’s investors are provided with discovery, development, and commodity price optionality, while limiting exposure to risks inherent to operating companies.


Posted November 17, 2021

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We acknowledge the [financial] support of the Government of Canada.

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