Empress Royalty Corp. has entered into a stream purchase agreement to acquire a gold stream on the Tongon Gold Mine in Côte d'Ivoire from Appian Tongon Streamco Ltd. for an upfront cash payment of US$62 million.

To partially fund the transaction, Empress Royalty Holding Corp. has entered into a US$75 million senior secured credit facility with Appian Empire Loanco Ltd. The facility provides an initial draw of US$55 million at closing, with the remaining balance funded from existing cash. A further US$20 million commitment will be available for 12 months following closing to fund future mutually agreed acquisitions.

Closing is expected to occur shortly following the September 17, 2026 announcement, subject to customary conditions including TSX Venture Exchange approval and confirmatory due diligence.

Under the terms of the agreement, Empress will receive 3.58% of payable gold production from Tongon until 400,000 cumulative ounces produced since January 31, 2026 have been delivered. The stream percentage will then step down to 2.93% until 600,000 cumulative ounces have been delivered, and continue at 0.81% for the remainder of the 29-year term. The purchase price for each delivered ounce will be 0.5% of the prevailing gold market price.

"This will be a transformational transaction for Empress," stated Alexandra Woodyer Sherron, CEO and President of Empress. "The Tongon Gold Stream is expected to substantially increase our gold ounces, revenue and cash flow from an established producing mine. Additionally, our due diligence has identified significant opportunity for continued reserve replacement and successful exploration providing additional long-term value to Empress. The US$75M credit facility provides Empress with the financial capacity to complete this Investment while preserving our liquidity and limiting shareholder dilution. It also provides additional capital to pursue future royalty and stream opportunities as we continue to build scale and quality of the Empress portfolio."

Timothy Mister, Head of Credit and Royalties at Appian, commented, "Appian's credit and royalty strategy centers on providing strong management teams with creative, flexible and non-dilutive capital solutions to support their growth. Empress has taken a disciplined approach to building its precious-metals royalty and streaming portfolio, and we are pleased to give our investors exposure to it through this tailored credit facility, which provides additional capacity for future expansion."

Read the full announcement: Empress Announces Agreement to Acquire Tongon Gold Stream and Secures Debt Financing