Silver X announces restructuring of royalty for gross proceeds of $2.42M

Silver X Mining announced that Silver X and Maverix Metals, a subsidiary of Triple Flag Precious Metals, have entered into an agreement amending the terms of the original royalty agreement between the parties to, among other things, expand the royalty to cover the entire Tangana Mining Unit in the Nueva Recuperada Mining District in Central Peru. Royalty Restructuring: The prior 3.0% NSR royalty, which covered only a portion of the Mine, will be replaced by a more comprehensive 3.0% NSR royalty that spans the entire Mine. Purchase Agreement: Triple Flag will pay an aggregate consideration of $2,420,000 to be comprised of $1,670,000 of cash and an offset of amounts to be paid under the royalty agreement through the end of 2023. Strategic Rights Secured: Triple Flag has also been granted both a Right of First Refusal and a Right of First Offer over future royalty or stream-like financings, highlighting Triple Flag’s confidence in the long-term value and potential of the Mine.