EMPRESS ROYALTY CORP. ("EMPR") ("EMPR.WT")
BULLETIN TYPE: Prospectus-Unit Offering; New Listing-Warrants
BULLETIN DATE: March 26, 2021
TSX Venture Tier 2 Company
Prospectus – Unit Offering
Effective February 4, 2021, the Company's short form base shelf prospectus dated February 4, 2021 (the "Prospectus") was filed with and accepted by TSX Venture Exchange, and filed with and receipted by the British Columbia and the Ontario Securities Commissions. TSX Venture Exchange has also accepted the filing of the Company's prospectus supplement dated March 18, 2021 (the "Prospectus Supplement").
TSX Venture Exchange has been advised that closing of the Prospectus Supplement offering occurred on March 25, 2021, for gross proceeds of $15,752,500 (including partial exercise of the underwriters' over-allotment option).
Underwriters:
| Red Cloud Securities Inc., Canaccord Genuity Corp. and Mackie Research Capital Corp.
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| Offering:
| 31,505,000 units (including partial exercise of over-allotment option). Each unit consisting of one share and one half of one share purchase warrant.
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| Unit Price:
| $0.50 per unit
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| Warrant Exercise Price/Term:
| $0.75 per share to March 25, 2023.
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| Underwriter's Commission:
| Red Cloud Securities Inc. - $398,790 cash and 341,820 broker warrants;
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| Canaccord Genuity Corp. - $398,790 cash and 341,820 broker warrants;
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| Mackie Research Capital Corp. - $199,395 cash and 170,910 broker warrants
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| Each broker warrant is exercisable to acquire one common share at an exercise price of C$0.50 until March 25, 2023.
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| Over-Allotment Option:
| The Company granted to the underwriters an option to purchase an additional 15% of the securities issued. The underwriters exercised 1,505,000 option units at closing and have 30 days from closing to exercise the remaining portion of the over-allotment option.
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For further details, please refer to the Prospectus, the Prospectus Supplement and news releases dated March 16, 2021, March 17, 2021 and March 25, 2021, all of which are filed on SEDAR.
New Listing – Warrants
Effective at the opening Tuesday, March 30, 2021, the warrants of the Company will commence trading on TSX Venture Exchange. The Company is classified as a 'Mining' company.
Corporate Jurisdiction:
| British Columbia
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| Capitalization:
| 15,752,500 warrants are issued and outstanding
| Warrant Exercise Price/Term:
| $0.75 per share to March 25, 2023.
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| Transfer Agent:
| Computershare Investor Services Inc.
| Trading Symbol:
| EMPR.WT
| CUSIP Number:
| 292454113
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The warrants were issued pursuant to a prospectus offering of 31,505,000 units, (including a partial exercise of the over-allotment option), which closed on March 25, 2021. The underwriters have 30 days to exercise the remaining portion of the over-allotment option. An additional 1,497,500 warrants may be issued if the underwriters exercise the over-allotment option in full. Each unit consists of one share and one half of one share purchase warrant. Each whole warrant entitles the holder to purchase one share at a price of $0.75 per share and will expire on March 25, 2023. |
