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Vancouver, British Columbia--(Newsfile Corp. - March 26, 2025) - EMX Royalty Corporation (NYSE American: EMX) (TSXV: EMX) (the "Company" or "EMX") is pleased to announce that, after its successful completion of its Normal Course Issuer Bid (the "Original NCIB") on January 8, 2025, it has received approval from the TSX Venture Exchange ("TSX-V") of its Notice of Intention to commence a new NCIB (the "New NCIB") and a new automatic stock purchase program.
Under the Original NCIB, the Company repurchased and cancelled all of the 5,000,000 common shares (the "Shares") allowed for a total amount of $8,255,000 or $1.65 per share, which represented approximately 4.45% of its issued and outstanding shares at the time of commencement.
Under the New NCIB, the Company may purchase for cancellation up to 5,440,027 Shares, representing approximately 5% of its issued and outstanding Shares as at April 1, 2025, over a twelve-month period commencing on April 1, 2025. The New NCIB will expire no later than March 31, 2026. In any event, EMX cannot purchase more than 2% of the issued and outstanding shares in any 30 day period.
In connection with the New NCIB, the Company is initiating an automatic stock purchase program with its designated broker in compliance with applicable securities law and the rules and policies of the TSX-V, in order to purchase all or a portion of the Shares under its NCIB at times when the Company would not ordinarily be active in the market due to its own internal trading blackout periods, insider trading policies or otherwise.
EMX believes that from time to time, the market price of its Shares may not reflect their underlying value and that the purchase of its Shares will enhance shareholder value and increase liquidity of the Shares. The Company intends to fund the purchases out of available cash.
All purchases made pursuant to the New NCIB will be made through the facilities of the TSX-V, NYSE American Stock Exchange ("NYSE American"), other designated exchanges and/or alternative Canadian trading systems or by such other means as may be permitted by applicable securities laws. The New NCIB will be made in accordance with the applicable rules and policies of the TSX-V, NYSE American and applicable Canadian and United States securities laws. The price that EMX will pay for Shares in open market transactions will be the market price at the time of purchase. Any Shares that are purchased under the NCIB will be cancelled. The actual number of Shares that may be purchased and the timing of such purchases will be determined by the Company. Decisions regarding purchases will be based on market conditions, share price, best use of available cash, and other factors. The Company is not obligated to purchase any particular number of Shares under the New NCIB and the New NCIB may be modified or suspended at the Company's discretion.