The Prospector News

Summit Royalty Announces Closing of 1.0% NSR Royalty Purchase on the Madsen Project

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Summit Royalty Announces Closing of 1.0% NSR Royalty Purchase on the Madsen Project

 

 

 

 

 

Summit Royalty Corp. a private royalty and streaming company, is pleased to announce that it has completed the acquisition of an existing 1.0% net smelter return royalty on the producing Madsen Project from a Fund managed by Sprott Resource Lending Corp for US$9.9 million. As part of the acquisition, Summit raised over US$9.3 million at US$0.65 a share in an oversubscribed private financing. Proceeds from the financing will be used to pay for the NSR royalty on Madsen, to fund future acquisitions, and for general corporate and administrative expenses.

 

“In the span of just over three months, Summit has emerged from an idea to a cash-flowing royalty company with a portfolio of nine assets and plenty of runway for future growth,” said Drew Clark, Founder and President of the Company. “With the completion of this acquisition, which complements the previously acquired royalty portfolio from IAMGOLD Corporation and the anticipated reverse takeover of Eagle Royalties Ltd., Summit is well positioned to continue prudently deploying capital on accretive transactions that will enhance shareholder value. The Summit Royalty team is excited to continue growing this business into a preeminent cash flowing junior royalty and streaming company focused on precious metals as we work toward becoming a publicly traded company in the coming months.”

 

About Summit Royalty Corp.

 

Summit is a private precious metals streaming and royalty company with an aggressive growth trajectory. Summit’s current portfolio is backstopped by cash flow production with additional expansion and exploration upside. Summit intends to rapidly expand to be the next mid-tier streaming and royalty company through a series of actionable and accretive acquisitions which, given Summit’s size, can have an outsized effect on its production and cash flow growth. Summit currently has no debt and sufficient cash on-hand for use in future acquisitions. Summit intends to complete a go-public transaction before year-end 2025.

 

Posted September 5, 2025

Share this news article

MORE or "UNCATEGORIZED"


PTX Metals Inc. Announces Second Closing of Private Placement

PTX Metals Inc. (TSX-V: PTX) is pleased to announce the closing of the second tranche (with an addit... READ MORE

October 2, 2025

Lion One Produces 5,704 Tonnes at 10.60 g/t Gold from First Shrinkage Stope at Tuvatu and Increases Underground Development Rates by 70%

Lion One Metals Limited (TSX-V: LIO) (OTCQX: LOMLF) is pleased to provide an update on mining opera... READ MORE

October 2, 2025

ESGold Secures C$9 Million Strategic Partnership with Ocean Partners as Montauban Progress Accelerates

ESGold Corp. (CSE: ESAU) (OTCQB: ESAUF) (FSE: Z7D) is pleased to announce it has entered into a bind... READ MORE

October 2, 2025

Erdene Announces Updated Resource for the Zuun Mod Molybdenum-Copper Deposit

Erdene Resource Development Corp. (TSX:ERD) (MSE:ERDN) (OTCQB:ERDCD) is pleased to announce a... READ MORE

October 2, 2025

Copper Giant Achieves Up To 92% Copper And 97% Molybdenum Recoveries In Latest Metallurgical Testwork At Mocoa

Copper Giant Resources Corp. (TSX-V: CGNT) (OTCQB: LBCMF) (FRA: 29H0) announces results from i... READ MORE

October 2, 2025

Copyright 2025 The Prospector News