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Xtierra ( (TSE:RI) ) has issued an announcement.
Royalties Inc. has acquired an additional 1,050,000 shares of Music Royalties Inc. for $525,000, increasing its stake and generating $181,800 in annual dividend income. This acquisition strengthens Royalties Inc.’s financial position by covering corporate overhead costs and enhances its presence in the music royalties market.
More about Xtierra
Royalties Inc. operates in the mining and royalties industry, holding a 100% interest in the Bilbao silver-zinc-lead project in Zacatecas, Mexico. The company also owns a significant stake in Minera Portree de Zacatecas, which holds a court-backed claim to a net smelter royalty on mining concessions at the Cozamin mine. Additionally, Royalties Inc. has a 3.9% stake in Music Royalties Inc., a company that acquires passive music royalties.
Average Trading Volume: 167,753
Technical Sentiment Signal: Buy
Current Market Cap: C$14.63M
For a thorough assessment of RI stock, go to TipRanks’ Stock Analysis page.