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HAYDEN, ID, June 27, 2013 /CNW/ - Americas Bullion Royalty Corp. (TSX: AMB) (the "Company") is pleased to announce that it has closed the non-brokered private placement announced on May 17th, 2013. Pursuant to the private placement, the Company issued 17,164,000 common shares at a price of $0.125 per common share for gross proceeds to the Company of $2,145,500. Subsequent to the original announcement, the Company amended the purchase price of the private placement from $0.15 to $0.125 per common share.
A total of 12 investors purchased shares in the private placement, including the following six insiders: William M. Sheriff, Paul H. Zink, Thomas Skimming, Barry Rayment, Michael Maslowski and Janet Lee-Sheriff. In addition, upon closing, Kudu Partners LP became an insider of the Company due to its total shareholdings of 29,098,000 shares, representing 16.14% of the Company's outstanding shares.
The Company intends to use the proceeds from the sale of the shares for general working capital purposes.
Americas Bullion Royalty Corp.
Americas Bullion Royalty Corp. focuses on acquiring precious metal royalties and streaming assets which provide revenue as well as lower risk exposure to shareholders through project diversity in stable, mining-friendly jurisdictions. The Company's existing portfolio is highlighted by Gross in-kind Royalties on Midway Gold's Pan and Gold Rock projects, as well as 2 separate royalties encompassing more than 34 square miles at Barrick Gold's Bald Mountain project in Nevada.
The Company holds additional royalties including Net Smelter Return Royalties on the Taylor Silver project and a portion of the Tonkin Springs project also in Nevada. The Company's royalty holdings comprise more than 100,000 acres located primarily in Nevada, with 7 of the projects located in Wyoming, Oregon, California and Mexico. Current royalty revenue is expected to accelerate as early as 2014 as several of these projects commence production. Americas Bullion Royalty Corp.'s prime royalty portfolio is unique in the mineral royalty industry due to its ability to receive the majority of projected revenues in-kind (gold bullion as opposed to cash), its concentration of gross royalties with no exposure to operator cost, as well as its security of title with no buyback or buyout provisions. The Company continues to advance or monetize other assets including its significant Yukon property holdings, security holdings and the Taylor Mill in Nevada.
No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This press release contains projections and forward-looking information that involve various risks and uncertainties regarding future events. Such forward-looking information can include without limitation statements based on current expectations involving a number of risks and uncertainties and are not guarantees of future performance. There are numerous risks and uncertainties that could cause actual results and Americas Bullion's plans and objectives to differ materially from those expressed in the forward-looking information. Actual results and future events could differ materially from those anticipated in such information. These and all subsequent written and oral forward-looking information are based on estimates and opinions of management on the dates they are made and are expressly qualified in their entirety by this notice. Except as required by law, Americas Bullion assumes no obligation to update forward-looking information should circumstances or management's estimates or opinions change.
SOURCE: Americas Bullion Royalty Corp.
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