- Vox Royalty (TSXV:VOX) has begun trading on the TSX Venture Exchange following a reverse-takeover deal with AIM3 Ventures
- Carried out under the laws of the Cayman Islands, the reverse-takeover was completed by Vox’s acquisition of AIM3 Merger Sub Cayman, a subsidiary of AIM3 Ventures
- The commencement of trading follows the successful closing of a brokered private placement for gross proceeds of C$13.75 million
- The company currently holds four letters of intent related to various royalty acquisition opportunities
- Vox Royalty (VOX) is currently up 1.67 per cent and is trading at $3.05 per share, with a market cap of $97.8 million
Vox Royalty (TSXV:VOX) has begun trading on the TSX Venture Exchange following a reverse-takeover deal with AIM3 Ventures.
The precious metals company was incorporated in January 2014 under the Companies Law of the Cayman Islands as a Special Economic Zone Company, and currently holds a portfolio of 36 royalties and streaming assets and one royalty option.
These interests span seven regions, including Australia, Canada, Peru, Brazil, Mexico, the US and Madagascar.
According to a news release dated March 2 of this year, the reverse-takeover deal was completed through Vox’s acquisition of AIM3 Merger Sub Cayman, a subsidiary of AIM3 Ventures. Vox then continued as the surviving entity and a wholly owned-subsidiary of AIM3 Ventures.
Following the necessary regulatory and shareholder approval, AIM3 Ventures then changed its name to Vox Royalty, and commenced trading on the TSX Venture Exchange.
In connection with the reverse-takeover, Vox also conducted a brokered private placement, originally targeting gross proceeds of between C$7 million and $12 million but ultimately generating a total of $13.75 million.
Kyle Floyd, CEO of Vox Royalty, said the take-over was a milestone achievement in the six-year history of the company.
“We are thrilled with the strong investor demand that drove the successful outcome of our brokered private placement raising aggregate gross proceeds of $13.75 million, compared to the initially targeted raising of $7 million to $12 million as of March 2.
“This successful fundraising and listing will enable us to continue our industry-leading royalty acquisition growth strategy into the remainder of 2020 and beyond,” he said.
Currently, Vox holds four letters of intent related to royalty acquisition opportunities. The company noted that these agreements are the subject of advanced negotiations and could potentially be completed in the second quarter of 2020.
Included in the four potential transactions are two royalties on producing or near-production mining assets, a feasibility-stage royalty and an exploration-stage royalty.
Vox Royalty (VOX) is currently up 1.67 per cent and is trading at $3.05 per share at 10:31am EDT.