Aftermath Silver Ltd. provided an update on its Berenguela silver-copper-manganese project located in the Department of Puno, in southern central Peru. The Company has an option (the "Option") to acquire a 100% interest in the Project through binding agreements with SSR Mining Inc. ("SSR") and EMX Royalty Corporation ("EMX") following EMX's assumption of certain interests contained in Aftermath's agreement with SSR. The Company has made a partial payment of USD 1.5-million toward the final property payment ahead of the November 2026 due date. In return, EMX has agreed to reduce the balance due in November 2026 to USD 1.65-million.
EMX's interest in Berenguela resulted from EMX's acquisition of a portfolio of royalty interests and payments from SSR and certain of its subsidiaries. EMX's payment obligations, which arise pursuant to a definitive acquisition agreement, originally executed with SSR totaling USD 13-million and other consideration to acquire a 100% interest In the Project, are summarized below (as now amended). The following represent the remaining payments to EMX;; USD 3-million cash to be paid on the May 15, 2025 (Paid); USD 1.5-million cash paid in June 2025; USD 1.65-million cash to be paid in the sixth anniversary of the initial closing date (i.e. November 2026).
