CHARLOTTE, NC / ACCESSWIRE / April 20, 2023 / Gleason & Sons LLC today announced it has entered into a private sale transaction to acquire 675,000 common shares of Vox Royalty Corp. ("Vox") (TSXV:VOX)(NASDAQ:VOXR), at a share price of C$4.00 per common share.
Gleason & Sons is the family office of Stefan Gleason, a Charlotte-based entrepreneur who owns and leads 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 equity investment in Vox is the latest in Gleason & Sons' debt and equity investments in this space. Vox is a returns-focused mining royalty company with a portfolio of over 60 royalties and streams spanning eight jurisdictions.
Vox 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 returns on royalty acquisitions in the mining royalty sector. Since the beginning of 2020, Vox has announced over 25 separate transactions to acquire over 50 royalties.
"We look for undervalued royalty companies with savvy management teams and are therefore pleased to increase our investment in Vox substantially," said Stefan Gleason, managing director of Gleason & Sons.
"As we've observed over the past two years, Vox's team has been consistently meeting or exceeding projections regarding cash flow while mining its proprietary royalty database to cultivate a pipeline of accretive deal opportunities that enhance shareholder value.
"At Money Metals, we have seen a dramatic increase in retail demand for physical gold and silver in recent weeks as more Americans awaken to the risks of inflation, bank failures, and recession. We expect this buying intensity to spread to the mining shares, fueling outsized gains in select royalty companies.
"For all these reasons, we are excited to expand our exposure to mining royalties through this strategic investment in Vox, and we will keep our eyes open for opportunities to assist the company over time," Gleason concluded.
Gleason & Sons is acquiring the $2,000,000 in Vox shares directly from an existing major shareholder who was willing to part with a block of shares in order to allow a strategic investor to enter and to manage his personal tax obligations. Each of the 675,000 shares was priced at C$4.00 (~$2.96), representing a ~5% premium to the trailing 30-day average VWAP at the time of the agreement.
For further information, contact:
Stefan Gleason
Gleason & Sons LLC
15720 Brixham Hill Avenue, #205
Charlotte, NC 28277
Tel: 208-577-2230
www.GleasonSons.com
[email protected]
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.
SOURCE: Gleason & Sons LLC