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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Essex Minerals Inc | TSXV:ESX | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.015 | 0.01 | 0.015 | 0 | 01:00:00 |
VANCOUVER, BC, April 12, 2021 /CNW/ - Further to the Company's previously announced Framework Financing Agreement with Zola Minerals Inc ("Zola"), a non-arm's length streaming company, Essex Minerals Inc. (the "Company" or "Essex") (TSXV: ESX) (OTCQB: ESXMF) (Frankfurt: EWX1) is pleased to announce that it has elected to be Zola's exclusive financing partner for a new streaming and royalty company with a focus on renewable energy.
The new company will be funded separately to Essex with the founding shares in the new venture to be distributed pro-rata to Essex shareholders. A meeting of shareholders has been called for June 10, 2021 to approve the capital distribution.
Highlights
Paul Loudon, President and CEO of Essex said: "We are excited that we are able to provide Essex shareholders with this special dividend of shares in a new and exciting streaming and royalty company, with a particular focus on income from renewable energy and battery metals alongside high alpha returns from gold.
"The Optegra shares will have the potential to provide long-term capital growth for Essex shareholders, while Essex shares themselves will continue to provide shareholders with the potential to benefit from the significant upside that a major gold discovery would bring."
About Essex
Essex Minerals is an exploration and development company focused on mineral exploration and development opportunities where it can adopt an option earn-in and joint venture model without the issuance of vendor shares. By identifying geological teams that have already expended the time and capital to assemble top quality, advanced projects, with a particular emphasis on gold projects in Tier 1 jurisdictions. Management's time is shared across several different projects, as the geological teams already in place manage the approved exploration and development programmes. This strategy has the potential to accelerate the growth in shareholder value for Essex by earning an interest in a range of projects of merit in a much shorter time frame than otherwise would be possible.
ON BEHALF OF ESSEX MINERALS INC.
Paul Loudon
President & CEO
www.essexminerals.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Essex Minerals Inc
Copyright 2021 Canada NewsWire
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