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An update from EDM Resources Inc ( (TSE:EDM) ) is now available.
EDM Resources Inc. has entered into a royalty purchase agreement with Silver Crown Royalties Inc., allowing SCRi to acquire a royalty on silver produced from EDM’s Scotia Mine. This agreement provides EDM with $500,000 of non-dilutive capital to advance the Scotia Mine to production. The deal includes an issuance of 60,000 SCRI Units to EDM and a structured payment plan. The royalty terms stipulate a ten-year payment period based on silver production, with a minimum delivery obligation and potential bonus payments for increased production. This agreement is expected to enhance EDM’s operational capabilities and financial stability, positioning it favorably within the mining industry.
More about EDM Resources Inc
EDM Resources Inc. is a Canadian exploration and mining company that fully owns the Scotia Mine and related facilities near Halifax, Nova Scotia. The company also holds several prospective exploration licenses in the surrounding regions of Nova Scotia. Its common shares are traded on the TSX Venture Exchange and the Frankfurt Exchange.
Average Trading Volume: 113,758
Technical Sentiment Signal: Sell
Current Market Cap: C$4.27M
Find detailed analytics on EDM stock on TipRanks’ Stock Analysis page.