10:21 AM EST - Monarch Mining Corporation : Has entered into a definitive agreement with Gold Royalty Corp. whereby Gold Royalty will acquire the following royalty interests from Monarch for cash proceeds of $11.25 million: a $2.50 per tonne royalty on all material processed through the Beacon mill originating from the Beaufor mine operations; and a 2.5% net smelter return royalty on each of the Croinor Gold, McKenzie Break and Swanson properties, of which half (1.25%) can be bought back by Monarch for $2 million per property in the future, subject to certain conditions being met.
Monarch Mining Corporation
shares T.GBAR are trading up $0.02 at $0.90.
