Revelo Closes the Sale of its Generative NSR Royalty Portfolio for Proceeds of US$1.5 million
Vancouver, British Columbia--(Newsfile Corp. - March 26, 2020) - Revelo Resources Corp. (TSXV: RVL) ("Revelo" or the "Company") is pleased to announce that the sale of 20 generative net smelter return ("NSR") royalty interests over exploration properties in Chile for proceeds of US$ 1.5 million, as announced by Revelo on January 20, 2020 and March 20, 2020, and by EMX on March 20, 2020, has closed. Two of the royalties were sold to an arm's length property owner, which exercised a right of first refusal, for US$ 338,000 and 18 were sold to EMX Royalty Corp. (TSXV: EMX) (NYSE American: EMX) for US$ 1,162,000. Of the amount paid by EMX, US$ 369,907 was applied to fully repay EMX for an outstanding loan due from Revelo. Under TSX Venture Exchange policies, EMX is a non-arm's party since EMX and Revelo have one common director. That director abstained from all negotiations and voting on the transaction on behalf of both EMX and Revelo and the independent directors of both companies authorized the transaction.
Revelo is a Canadian company listed on the TSX Venture Exchange (TSXV: RVL). Revelo has interests in an outstanding portfolio of projects prospective for gold and copper located along proven mineral belts in one of the world's top mining jurisdictions -Chile. The Company has a vision to reward shareholders with wealth-generating mineral discoveries along Chile's prime mineral belts, through leveraged and more efficient capital deployment, exploration, discovery and monetization. For more information, please visit Revelo's website at www.reveloresources.com.
ON BEHALF OF THE BOARD
Michael Winn, Chairman
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Revelo expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "indicate" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although Revelo believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward-looking statements.
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