Eurasian Minerals Inc. (TSXV:EMX,NYSE:EMXX) sold its geothermal energy assets in Slovakia and Peru to Starlight Geothermal Ltd. for cash payments, an equity position in SGL, and gross royalties from future geothermal energy production. Starlight Geothermal Ltd. is a private company focused on the advancement of geothermal energy resources worldwide.
As quoted in the press release:
EMX’s geothermal assets in Slovakia and Peru were sold to Starlight for an upfront cash payment, an equity position consisting of approximately 5% of SGL’s issued and outstanding shares, annual advance minimum royalty payments until production commences, and once production commences a 1% gross royalty on its geothermal licenses in Slovakia and a 0.5% gross royalty on its geothermal licenses in Peru. Starlight Geothermal Ltd. is a Delaware registered private company that is focused on the advancement of geothermal energy resources worldwide.