Vox Royalty reports preliminary Q2 revenue $2.2M vs. $1.8M last year

Kyle Floyd, CEO stated: “I am pleased to announce our preliminary second quarter revenue, an increase of 25% over the prior year period, which is in line with expectations and supports our annual revenue guidance given on April 27,2023. Complementing the organic growth of the portfolio is the potential acquisition of additional royalties in Australia which continues to position Vox well for sustained growth in all key metrics.” On July 28, 2023, Vox entered into a royalty sale and purchase agreement with an Australian company to acquire a portfolio of development and exploration-stage royalties located in Australia. A number of the royalties are subject to a right of first refusal, a right of first offer or a consent to assignment right in connection with a proposed assignment thereof, and therefore it is not yet certain how many royalties the Company will acquire at closing, if any. The aggregate purchase price for the portfolio consists of cash and non-cash consideration, cash consideration being up to A$8,000,000 payable at closing, subject to reduction if any of the Rights are exercised, and non-cash consideration being providing ongoing royalty-related services to the vendor from Vox’s proprietary database of royalties. The Company expects closing of the transaction to occur later in Q3 2023 and will fund the acquisition of the Portfolio with cash on hand.