The Conversation (0)
Almadex Minerals Ltd. ("Almadex" or the "Company") (TSX-V: "DEX") announces that it has completed the previously announced sale to Empress Royalty Corp. ("Empress") of a portfolio of net smelter return royalty interests on mineral properties in Canada, the United States and Mexico for aggregate consideration of US$2,500,000.
The consideration paid to Almadex consisted of US$1,000,000 in cash and 2,562,802 common shares of Empress, having an agreed value of US$1,500,000. The royalty portfolio includes certain 1.5% and 2.0% net smelter return royalties on precious and base metal projects, including royalties located in Mexico, British Columbia, Yukon and Nevada.
The Empress shares issued to Almadex are subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws.
About Almadex
Almadex Minerals Ltd. is a mineral exploration company focused on base and precious metals in the western United States. The Company owns several portable diamond drill rigs, enabling it to conduct cost effective first pass exploration drilling in house.
On behalf of the Board of Directors,
"Morgan Poliquin"
Morgan Poliquin, President and CEO
Almadex Minerals Ltd.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within it, other than statements of historical fact, are to be considered forward looking. Forward-looking statements in this news release include, among other things, statements regarding the Company's mineral portfolio and royalties and the Company's future plans and expectations. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include changes in market prices, exploitation and exploration successes, permitting, continued availability of capital and financing, equipment availability and general economic, market or business conditions. There can be no assurances that forward-looking statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking statements, other than as required pursuant to applicable securities laws.
Contact Information:
Almadex Minerals Ltd.
Tel. 604.689.7644
Email: info@almadexminerals.com
http://www.almadexminerals.com/
