TORONTO, Sept. 10, 2020 /CNW/ - Vox Royalty Corp. (TSXV: VOX) ("Vox" or the "Company") is pleased to announce that it has completed the acquisition of the Segilola gold royalty covering Thor Exploration Ltd.'s ("Thor") Segilola Gold Mine (the "Royalty"), as announced in the Vox press release dated July 10, 2020.
On the mutual agreement of the parties and to simplify the completion process, the seller was paid C$900,000 in cash consideration (rather than a combination of cash and Vox shares) from current cash on hand. For additional information on the transaction, please refer to Vox's news release dated July 10, 2020, available at www.voxroyalty.com.
About Segilola Gold Mine
Segilola is in the state of Osun in Nigeria, approximately 120km northeast of Lagos. According to the public disclosure record of Thor, construction commenced in February 2020 and first gold production is scheduled for Q2 2021. The deposit hosts open pit probable gold reserves of 405,000oz @ 4.2g/t (at 0.77g/t cut-off, resource estimate dated 04 Feb 2019). A 2019 Definitive Feasibility Study completed on 04 Feb 2019 outlines production estimates averaging 80,000oz of gold per annum over an initial 5-year mine life. For more information on Segilola, please visit the Thor website at https://www.thorexpl.com/.
Timothy J. Strong, MIMMM, of Kangari Consulting Limited and a "Qualified Person" under National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the scientific and technical disclosure contained in this press release.
Vox is a high growth precious metals royalty and streaming company with a portfolio of over 40 royalties and streams spanning eight jurisdictions. The company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed us to become the fastest growing royalty company in the sector. Since the beginning of 2019 Vox has announced over 15 separate transactions to acquire over 35 royalties.
Further information on Vox can be found at www.voxroyalty.com.
Technical and Third-Party Information
Except where otherwise stated, the disclosure in this press release relating to the Segilola Gold Mine is based on information publicly disclosed by Thor and based on the information and data available in the public domain as at the date hereof. None of such information or data has been independently verified by Vox. Specifically, as a royalty investor, Vox has limited, if any, access to the Segilola Gold Mine. Although Vox does not have any knowledge that such information may not be accurate, there can be no assurance that such information from Thor is complete or accurate.
Cautionary Note Regarding Forward Looking Information
This news release contains certain forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects" or "does not expect", "is expected", "anticipates" or "does not anticipate" "plans", "estimates" or "intends" or stating that certain actions, events or results " may", "could", "would", "might" or "will" be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking statements". Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to materially differ from those reflected in the forward-looking statements.
The forward-looking statements and information in this press release include, but are not limited to, information relating to the transaction including details on the Royalty. Such statements and information reflect the current view of Vox. By their nature, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Vox's actual results, performance or achievements or other future events, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.
Should one or more of these risks, uncertainties or other factors materialize, or should assumptions underlying the forward-looking information or statement prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Vox cautions that the foregoing list of material factors is not exhaustive. When relying on the Company's forward-looking statements and information to make decisions, investors and others should carefully consider the foregoing factors and other uncertainties and potential events.
Vox has assumed that the material factors referred to in the previous paragraph will not cause such forward looking statements and information to differ materially from actual results or events. However, the list of these factors is not exhaustive and is subject to change and there can be no assurance that such assumptions will reflect the actual outcome of such items or factors. The forward-looking information contained in this press release represents the expectations of Vox as of the date of this press release and, accordingly, is subject to change after such date. Readers should not place undue importance on forward looking information and should not rely upon this information as of any other date. While Vox may elect to, it does not undertake to update this information at any particular time except as required in accordance with applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.