Vox Royalty Announces Agreement to Acquire Transformational Global Gold Portfolio, Overnight Marketed Offering of Common Shares and Expanded Revolving Credit Facility

Core Viewpoint - Vox Royalty Corp has announced the acquisition of a global gold portfolio consisting of ten gold offtake and royalty assets for a total upfront cash consideration of $57.5 million, which is expected to significantly enhance its revenue and asset base [2][3][5]. Financial Impact - The transaction is projected to increase revenue per share by approximately 115% and cash flow per share, with expected revenue growth of about 200% for the three months ended June 2025 and 150% for the trailing four quarters [5][3]. - The acquired portfolio generated over $16 million in gold cash flow over the trailing four quarters, with an annualized run-rate gold cash flow exceeding $20 million based on Q2-2025 figures [3][5]. Portfolio Details - The portfolio includes eight gold offtake contracts and two gold royalties across various jurisdictions, including Australia, Brazil, Canada, Côte d'Ivoire, Mali, Mexico, South Africa, and the United States [7][8]. - The assets are operated by medium to large-cap operators, enhancing the portfolio's stability and growth potential [8]. Growth Potential - The average margin per ounce realized on the acquired assets increased from $23.10/oz in the first half of 2022 to $63.10/oz in the first half of 2025, reflecting a growth of approximately 170% [5]. - The ounces delivered by the portfolio increased by approximately 30%, from 111,000 ounces to 144,000 ounces during the same period [5]. Funding Strategy - The acquisition will be funded through a concurrent overnight marketed offering of common shares expected to raise up to $55 million and an upsized revolving credit facility of $40 million with Bank of Montreal [11][16]. - The credit facility includes an accordion feature allowing for an additional $35 million, providing a total funding capacity of $75 million [16][18]. Strategic Alignment - The transaction aligns with Vox's strategy of acquiring high-quality legacy assets with long-term optionality, aiming to enhance its position in the gold sector and potentially qualify for inclusion in precious metal-based indexes like the GDXJ [3][8].