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GlobeNewswire·

Summit Royalties Announces Closing of 1.0% NSR Royalty Acquisition on Newmont's Saddle North Deposit

  • Summit Royalties Ltd. completed the acquisition of a 1.0% net smelter return royalty on Newmont Corporation's Saddle North Deposit for C$5 million in shares at C$1.765 per share.
  • Newmont Corporation holds a buy-back right to repurchase 50% of the royalty for C$750,000 in cash during the five years following the commencement of commercial production at Saddle North.
  • Summit Royalties is a debt-free precious metals royalty company with sufficient cash on hand to fund future accretive acquisitions.
  • The company aims to become the fastest growing royalty & streaming firm by increasing production & driving cash flow growth.
  • Forward-looking statements in the release regarding the buy-back option & growth objectives are subject to risks & uncertainties that could cause actual results to differ materially from expectations.