Royalties Inc. Announces Financial Funding

Toronto, Ontario–(Newsfile Corp. – August 21, 2024) – Royalties Inc. (CSE: RI) (“the Company”) has announced a non-brokered private placement offering up to $210,000 at $0.035 per share for 6,000,000 shares. The proceeds from this placement will primarily be utilized to cover increased costs of audit and tax professional fees in Canada, property taxes, and litigation expenses in Mexico. The Company has recently seen success with its strategic investment in Music Royalties Inc., generating $129,000 in dividend income since October 2022. However, additional income from cash-flowing royalties has not fully covered corporate overhead expenses. Efforts to maximize the value of the Bilbao silver-zinc-lead project in Mexico are ongoing, and legal proceedings regarding the 2% NSR on the Portree claims at the Cozamin Mine are set to resume in September.

About Royalties Inc.

Royalties Inc. holds a 2% stake in Music Royalties Inc. (MRI), a Canadian-based company that acquires passive music royalties from various rightsholders. The Company also owns a 100% interest in the Bilbao silver-lead-zinc-copper project in Mexico and an 88% stake in Minera Portree de Zacatecas, S.A. de C.V., which holds a 2% net smelter royalty claim on mining concessions at the Cozamin Mine.

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Forward-Looking Statements

This press release contains forward-looking information, based on the Company’s current beliefs, estimates, and expectations. Readers are cautioned not to place undue reliance on these statements, as they are subject to various risks and uncertainties. The Company does not undertake any obligation to update or revise forward-looking statements based on new information or events, except as required by applicable securities law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/220688