Mentioned:
Streamex wants to change the future of the commodities and gold business. Which is exactly why they’ve just taken a new ownership position in a precious metals streaming company.
What’s happening:
- Streamex (NASDAQ: STEX) has acquired a 9.9% equity stake in precious metals royalty and streaming company Empress Royalty (TSXV: EMPR) for $12.2M USD
By the numbers:
- The new equity position in Empress Royalty was acquired through Streamex issuing roughly 2.4M common shares at $5.00 USD per share, which represents a premium to Streamex’s last closing price
- Streamex now owns approximately 12.6M common shares of Empress Royalty
Why it matters:
- This is the first time ever that Streamex has ventured into owning equity exposure in a publicly traded precious metals royalty company
Going deeper:
- Streamex has been making a flurry of moves lately to bring commodities and gold onto the blockchain, including previously launching a $100M USD pre-sale for their gold backed stablecoin GLDY and purchasing $25M USD of physical gold bullion to hold directly as an asset
