CHARLOTTE, NC / ACCESSWIRE / June 12, 2023 / Gleason & Sons LLC today announced today it has acquired nearly 7 million common shares of Empress Royalty ("Empress") (TSXV:EMPR)(OTCQX:EMPYF) via a series of open market purchases and cross trades in recent weeks.
Gleason & Sons is the family office of Stefan Gleason, a Charlotte-based entrepreneur who owns several privately held businesses in the United States, including Money Metals Exchange LLC. Money Metals is one of the largest precious metals dealers and depositories in North America with 500,000 customers and approximately $1 billion in annual revenues.
The $1.6 million equity investment in Empress is the latest in Gleason & Sons' debt and equity investments in the mining royalty space.
Empress is primarily a creator of new gold and silver mining royalties and streams, with a focus on financing smaller projects while leveraging the expertise and resources of its partner Endeavour Financial, a global mining finance advisory firm.
Empress' portfolio currently holds three producing assets, including two streams and one royalty, one development stage royalty, and 10 exploration stage royalties. Empress has forecast $7 million in revenue for 2023, an increase of well over 200% compared to 2022 revenue.
"We look for undervalued royalty companies with low overhead, experienced management teams, and an emphasis on generating near-term cash flows," said Stefan Gleason, managing director of Gleason & Sons.
"We believe Empress has identified a sub-sector that has scant access to royalty financing, and the Empress team has the expertise to underwrite these high-yield opportunities along with the commitment to conduct the due diligence needed.
"At Money Metals, we have seen a dramatic increase in retail demand for physical gold and silver in recent months as more Americans awaken to the risks of inflation, bank failures, and recession. We expect this buying intensity eventually to spread to the mining shares, fueling outsized gains in select royalty companies.
"The royalty model is ideally positioned for an inflationary environment. Metals prices tend to rise, yet the royalty holder is insulated from the downside of higher operating and capital costs at the underlying mines.
"For all these reasons, we are excited to expand our exposure to mining royalties through this strategic investment in Empress, and we will keep our eyes open for opportunities to assist the company over time," Gleason concluded.
For further information, contact:
Stefan Gleason
Gleason & Sons LLC
15720 Brixham Hill Avenue, #205
Charlotte, NC 28277
Tel: 208-577-2230
www.GleasonSons.com
This release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address anticipated future events are forward-looking statements. Although the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements.
All amounts in U.S. dollars unless otherwise indicated.
SOURCE: Gleason & Sons LLC
View source version on accesswire.com:https://www.accesswire.com/760350/Gleason-Sons-Makes-16-Million-Strategic-Investment-in-Empress-Royalty-as-High-Yielding-Investments-Boost-Cash-Flow
