Empress Royalty Corp. announced that it has received CAD 28,500,000 from new investors, Nebari Natural Resources Credit Fund I LP and Nebari Natural Resources Credit Fund II, Lp managed by Nebari Holdings, LLC on December 5, 2023. The company expects to initially drawdown approximately CAD 3,500,000.

In addition, the accordion feature of the Credit Facility allows the company to drawdown additional amounts under the Credit Facility for future investments. The Credit Facility shall bear interest at a rate of 7.5% per annum plus 3-month Term SOFR. An arrangement fee of 2.0% of each draw made under the Credit Facility is payable on closing, together with reimbursement of Nebari's costs for each draw made.

The Initial Loan has a term of three years, and any addition draws under the Accordion Feature will have a term of three years from that date of drawdown. On closing of the Initial Loan, the company will issue to Nebari, a total of 3,104,513 common share purchase warrants, of which 2,535,633 which will replace the share purchase warrants currently issued and outstanding in connection with the Initial Facility. Each Bonus Warrant is exercisable into one common share for a period of three years from the Initial Loan and will be priced at CAD 0.31, which is a nil premium to the 20-day volume weighted average trading price of the company on the date of signing the agreements with a floor of the market price on the Pricing Date.

The transaction is subject to the final approval of the TSX Venture Exchange. The company will receive $708,147 (CAD 945,673.66674) from single investor pursuant to exemption provided under Regulation D.