EDM Resources highlights strengthened financial position

EDM Resources Inc (TSX-V:EDM, OTC:SWNLF) said connected Friday that it has strengthened its fiscal presumption aft adding astir $900,000 to its treasury done a premix of non-dilutive plus monetization and warrant exercises.

The institution sold 20,000 Silver Crown Royalties Inc. (SCRi) communal shares for astir $400,000 successful proceeds. SCRi is simply a publically traded royalty institution focused connected acquiring metallic royalty interests tied to producing oregon near-term mining projects.

Following the transaction, EDM said it inactive holds 40,000 SCRi communal shares and 60,000 SCRi warrants. Based connected caller SCRi trading prices, the institution estimates the marketplace worth of its remaining SCRi stock presumption astatine astir $700,000, with the warrants offering further imaginable upside taxable to their terms.

EDM noted that caller spot successful planetary metallic prices has supported improved valuations among silver-focused royalty and mining companies, including SCRi, though commodity prices stay volatile. The partial monetization of the presumption was undertaken to bolster the equilibrium expanse portion retaining vulnerability to imaginable gains, the institution said.

Separately, the workout of antecedently issued EDM warrants contributed astir $500,000 successful cash.

In total, the institution said it has added astir $900,000 to its treasury successful caller weeks, improving fiscal flexibility arsenic it advances last permitting, golden exploration, updated mineral assets work, and improvement initiatives astatine the Scotia Mine. EDM said the stronger equilibrium expanse is expected to enactment execution of near-term milestones portion preserving superior allocation flexibility.

"Together with the partial workout of warrants and monetization of our Silver Crown position, we added astir $900,000 to the Company's treasury,” EDM Resources CEO Mark Haywood said successful a statement.

“This materially strengthens our equilibrium expanse portion preserving meaningful upside vulnerability to metallic done our remaining SCRi holdings. We are well-positioned to beforehand cardinal milestones astatine the Scotia Mine."