EMX Royalty Provides an Update on IGC's Sale of the Malmyzh Copper-Gold Porphyry Project
Vancouver, British Columbia, October 2, 2018 (TSX Venture: EMX; NYSE American: EMX) – EMX Royalty Corporation (the “Company” or “EMX”) is pleased to provide an update on the sale of the Malmyzh copper-gold porphyry project (“Malmyzh”) to Russian Copper Company (“RCC”). EMX has learned from IG Copper LLC (“IGC”) that all condition precedents to complete the sale, as defined in the Share Purchase Agreement , have been fulfilled, and the US $200 million completion consideration has been paid into escrow. The final step towards closing is notification by the Russian authorities that ownership of the Russian subsidiary holding the Malmyzh licenses has been transferred to RCC. IGC has indicated that this last step should occur within the next five to ten days.
The estimated value of the Malmyzh transaction to EMX's interest in IGC, net of financial arrangements, is over US $68 million. Scotiabank Europe plc, the U.K. subsidiary of The Bank of Nova Scotia, is an advisor to IGC regarding the transaction.
About EMX. EMX leverages asset ownership and exploration insight into partnerships that advance our mineral properties, with EMX receiving pre-production payments and retaining royalty interests. EMX complements its royalty generation initiatives with royalty acquisitions and strategic investments.
About IGC. IGC, a privately held company, is led by President and CEO Thomas E. Bowens, and includes key personnel with a track record of exploration discovery and project development in the Russian Far East.