Vox Royalty Corp. (TSX-V: VOX) (NASDAQ: VOXR) a returns focused mining royalty company, is pleased to announce its operating and financial results for the fourth quarter and year ended December 31, 2022. All amounts are in U.S. dollars unless otherwise indicated.

Kyle Floyd, Chief Executive Officer stated: “2022 was a record year in all key respects for Vox, recognizing over 160% growth in annual royalty receipts, record annual profits, achieving its Nasdaq listing, and initiating a quarterly dividend. These successes have enabled the Company to increase its dividend, which is now one of the highest dividends in the mining royalty sector (on an annualised basis). Despite complex global macroeconomic conditions, Vox’s unique approach underpinned by differentiated asset sourcing and prudent technical due diligence continues to deliver positive financial results for investors. We are very excited to continue these trends throughout the remainder of 2023 and beyond for Vox investors.”

Full Year 2022 Highlights

• Record recognized revenues of $8,508,105 and record revenue receipts of $9,717,022 (FY 2021 – $3,651,717 and $3,651,717, respectively);
• Record gross profit of $6,664,087 (FY 2021 – $2,679,125);
• Record cash flows from operating activities of $2,047,169 (FY 2021 – $768,346);
• Strong, debt-free balance sheet position at December 31^st, including, cash and accounts receivable of $6,174,716 (2021 – $5,610,296) and total assets of $41,805,456 (2021 – $27,305,421);
• Declared an inaugural quarterly cash dividend of $0.01 per common share on September 20, 2022, paid to shareholders of record as of October 21, 2022, which was subsequently followed by the declaration of a quarterly cash dividend of $0.01 per common share on November 15, 2022, paid to shareholders of record as of December 30, 2022;
• Commenced trading on Nasdaq on October 10, 2022;
• Released its inaugural Asset Handbook for best practice investor transparency in February 2022;
• Noted significant organic development within the existing royalty portfolio with the commencement of production by Northern Star Resources Limited at the Otto Bore gold mine and construction completion and loaded commissioning at the Binduli North Gold Mine by Zijin Mining Group Co., Ltd. in Western Australia;
• Completed the acquisition of eight royalties plus two royalty options during the year ended December 31, 2022, including:
  • Wonmunna – iron ore royalty, an uncapped 1.25% to 1.50% GRR (payable at 1.50% for >A$100/t iron ore pricing), operated by Mineral Resources Limited; and
  • Limpopo – two PGM royalties, a 1.0% GRR over the Dwaalkop Project and a 0.704% GRR over the Messina Project, operated by Sibanye Stillwater Ltd.

Fourth Quarter 2022 Highlights

• Revenue and royalty receipts of $2,104,758 (Q4 2021 – $574,214);
• Gross profit of $1,591,909 (Q4 2021 – $199,656); and
• Record cash flows from operating activities of $1,695,717 (Q4 2021 – $417,973).

Summary of Quarterly Results

For complete details, please refer to the audited consolidated financial statements and associated Management Discussion and Analysis for the years ended December 31, 2022 and 2021, available on SEDAR (www.sedar.com), EDGAR (www.sec.gov) or on Vox’s website (www.voxroyalty.com).

Quarterly Dividend

The Company is also pleased to announce that its Board of Directors has approved a quarterly cash dividend of $0.011 per common share, representing a 10% increase to the Company’s last quarterly dividend, to be paid on April 14, 2023 to shareholders of record as of the close of business on March 31, 2023.

For shareholders residing in Canada, the dividend will be paid in Canadian dollars based on the daily exchange rate published by the Bank of Canada on March 31, 2023. The dividend qualifies as an “eligible dividend” as defined in the Income Tax Act (Canada). The dividend is subject to customary Canadian withholding tax for shareholders that are not resident in Canada.

Marketing Agreement

The Company is also pleased to announce that it has entered into an agreement for services with Lond Capital Ltd. dated March 14, 2023, pursuant to which Lond will arrange five one-day non-deal roadshows for the Company, with the aim of increasing investor awareness of Vox in Europe and North America. The Agreement has a term of up to 12 months, but will automatically terminate once the Roadshows have been completed. Lond will be paid a one-time upfront payment of £10,000 out of the Company’s cash on hand for services rendered. Lond will not receive any Vox securities as compensation for the arrangement and does not hold any interest, directly or indirectly, in Vox or its securities. Lond’s registered office is located at Level 18, 40 Bank Street, London, E14 5NR, United Kingdom.

About Vox

Vox is a returns focused mining royalty company with a portfolio of over 60 royalties and streams spanning eight jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to target the highest returns on royalty acquisitions in the mining royalty sector. Since the beginning of 2020, Vox has announced over 25 separate transactions to acquire over 50 royalties.