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An announcement from Xtierra ( (TSE:RI) ) is now available.
Royalties Inc. has acquired 1 million shares of Music Royalties Inc. from Quinsam Capital Corporation, valued at $500,000, in exchange for issuing 12,500,000 of its own shares. This acquisition increases Royalties Inc.’s stake in Music Royalties Inc. to 3 million shares, which will generate $108,000 in annual dividend income. The move is expected to enhance Royalties Inc.’s revenue stream through passive income from music royalties, potentially strengthening its financial position and offering more value to its stakeholders.
More about Xtierra
Royalties Inc. is involved in the mining industry, owning a 100% interest in the Bilbao silver-zinc-lead project in Zacatecas, Mexico. The company also holds an 88% stake in Minera Portree de Zacatecas, which is engaged in legal disputes over a net smelter royalty on mining concessions. Additionally, Royalties Inc. has a 2% stake in Music Royalties Inc., which manages music royalty portfolios.
Average Trading Volume: 32,064
Technical Sentiment Signal: Hold
Current Market Cap: C$10.13M
Find detailed analytics on RI stock on TipRanks’ Stock Analysis page.