TORONTO, Sept. 20,
2022 /CNW/ - Vox Royalty Corp. (TSXV:
VOX) (OTCQX: VOXCF) ("Vox" or the "Company"), a
returns focused precious metals royalty company, is pleased to
announce that its Board of Directors has approved the initiation of
a quarterly dividend program and the Company has declared an
inaugural quarterly cash dividend of US$0.01 per common share to be paid in the fourth
quarter of 2022. The dividend will be paid on November 4, 2022 to shareholders of record as of
the close of business on October 21,
2022.
Kyle Floyd, Chief Executive
Officer stated: "I am very excited to announce the initiation of
a quarterly dividend program following back-to-back record
quarterly royalty receipts. The performance of our royalty
portfolio continues to exceed management expectations and validate
our technical due diligence. The launch of a quarterly dividend is
a major milestone for Vox shareholders. Vox continues to take a
balanced approach between capital returns to investors and future
accretive royalty acquisitions. Based on yesterday's closing price
of C$2.98, the declared dividend
represents an approximate 1.8% yield on an annualized basis. As
additional Vox royalties start cash-flowing, management will
continue to assess potential increases to the quarterly
dividend."
For shareholders residing in Canada, the dividend will be paid in Canadian
dollars based on the daily exchange rate published by the Bank of
Canada on October 21, 2022. The dividend qualifies as an
"eligible dividend" as defined in the Income Tax Act
(Canada). The dividend is subject
to customary Canadian withholding tax for shareholders that are not
resident in Canada.
The dividend program contemplates the payment of quarterly
dividends to Vox shareholders in 2023 and beyond. The declaration,
timing, amount and payment of future dividends will be subject to
the discretion and approval of the Board of Directors of the
Company based on relevant factors, including but not limited to,
the Company's financial condition, capital allocation framework,
profitability, cash flow, legal requirements and other factors
considered relevant, each of which shall be assessed on a quarterly
basis.
About Vox
Vox is a returns focused precious metals royalty company with a
portfolio of over 50 royalties and streams spanning eight
jurisdictions. The Company was established in 2014 and has since
built unique intellectual property, a technically focused
transactional team and a global sourcing network which has allowed
Vox to target the highest return on invested capital in the royalty
sector. Since the beginning of 2020, Vox has announced over 20
separate transactions to acquire over 50 royalties.
Further information on Vox can be found at www.voxroyalty.com.
Cautionary Note Regarding Forward
Looking Information
This press release contains certain forward-looking
statements. Any statements that express or involve discussions with
respect to predictions, expectations, beliefs, plans, projections,
objectives, assumptions or future events or performance (often, but
not always, using words or phrases such as "expects" or "does not
expect", "is expected", "anticipates" or "does not anticipate"
"plans", "estimates" or "intends" or stating that certain actions,
events or results " may", "could", "would", "might" or "will" be
taken, occur or be achieved) are not statements of historical fact
and may be "forward-looking statements". Forward-looking
statements are subject to a variety of risks and uncertainties
which could cause actual events or results to materially differ
from those reflected in the forward-looking statements.
The forward-looking statements and information in this press
release include, but are not limited to, Vox's
anticipated payment of an inaugural dividend and subsequent
quarterly dividend payments, completion of certain anticipated
milestones, transactions and developments by the operators of
certain underlying projects and mines in respect of Vox's royalty
and stream portfolio, anticipated future cash flows, future
financial reporting by Vox, the receipt of payments from Vox's
mining royalty portfolio, the completion of mine construction,
production and expansion under construction phases at the mines or
properties that Vox holds an interests in.
Forward-looking statements and information are based on
forecasts of future results, estimates of amounts not yet
determinable and assumptions that, while believed by management to
be reasonable, are inherently subject to significant business,
economic and competitive uncertainties and contingencies.
Forward-looking statements and information are subject to various
known and unknown risks and uncertainties, many of which are beyond
the ability of Vox to control or predict, that may cause Vox's
actual results, performance or achievements to be materially
different from those expressed or implied thereby, and are
developed based on assumptions about such risks, uncertainties and
other factors set out herein, including but not limited to: the
requirement for regulatory approvals and third party consents, the
impact of general business and economic conditions, the absence of
control over the mining operations from which Vox will receive
royalties, including risks related to international operations,
government relations and environmental regulation, the inherent
risks involved in the exploration and development of mineral
properties; the uncertainties involved in interpreting exploration
data; the potential for delays in exploration or development
activities; the geology, grade and continuity of mineral deposits;
the impact of the COVID-19 pandemic; the possibility that future
exploration, development or mining results will not be consistent
with Vox's expectations; accidents, equipment breakdowns, title
matters, labor disputes or other unanticipated difficulties or
interruptions in operations; fluctuating metal prices;
unanticipated costs and expenses; uncertainties relating to the
availability and costs of financing needed in the future; the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price
fluctuations; currency fluctuations; regulatory restrictions,
including environmental regulatory restrictions; liability,
competition, loss of key employees and other related risks and
uncertainties. Should one or more of these risks,
uncertainties or other factors materialize, or should assumptions
underlying the forward-looking information or statement prove
incorrect, actual results may vary materially from those described
herein as intended, planned, anticipated, believed, estimated or
expected. Vox cautions that the foregoing list of material factors
is not exhaustive. When relying on the Company's forward-looking
statements and information to make decisions, investors and others
should carefully consider the foregoing factors and other
uncertainties and potential events.
Vox has assumed that the material factors referred to in the
previous paragraph will not cause such forward looking statements
and information to differ materially from actual results or events.
However, the list of these factors is not exhaustive and is subject
to change and there can be no assurance that such assumptions will
reflect the actual outcome of such items or factors. The
forward-looking information contained in this press release
represents the expectations of Vox as of the date of this press
release and, accordingly, is subject to change after such date.
Readers should not place undue importance on forward looking
information and should not rely upon this information as of any
other date. While Vox may elect to, it does not undertake to update
this information at any particular time except as required in
accordance with applicable laws.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Vox Royalty Corp.