Almadex Closes $2.5M Royalty Sale to Empress Royalty

Almadex Minerals Ltd. (TSX-V: DEX) closed the sale of a portfolio of net smelter return royalty interests to Empress Royalty Corp. for US$2.5 million, the company said Wednesday.

The consideration included US$1 million in cash and 2,562,802 common shares of Empress valued at US$1.5 million. The royalty portfolio covers 1.5% and 2.0% NSR royalties on precious and base metal projects in North America, including properties in Mexico and Canada.

The Empress shares are subject to a four-month-and-one-day hold period under Canadian securities laws.

Almadex is a mineral exploration company focused on base and precious metals in the western United States. The company owns several portable diamond drill rigs for in-house first-pass exploration.