Star Royalties Reports Q1 2021 Results

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(TheNewswire)



All amounts are in U.S. dollars unless otherwise indicated.

Not for distribution to U.S. news wire services or for dissemination in the United States.

May 27, 2021 - TheNewswire - Toronto, ON - Star Royalties Ltd. (the “Company” or “Star Royalties”) (TSXV:STRR) is pleased to report its financial results for the first quarter ended March 31, 2021.

Summary of Q1 Results

     
 

Quarter ended

March 31,

2021

Quarter ended

March 31,

2020

     

Revenue

$            146,072

$             -

Net loss

(930,293)

(88,973)

Basic and diluted loss per share

(0.02)

(0.01)

Cash flow from operating activities

(373,689)

(59,117)

Cash flow from investing activities

(6,008,911)

(706)

Cash flow from financing activities

19,399,650

(1,068,572)

     
 

For complete details, please refer to the Condensed Interim Financial Statements and associated Management Discussion and Analysis for the three months ended March 31, 2021, available on SEDAR at www.sedar.com or on the Company’s website at www.starroyalties.com.

Alex Pernin, Chief Executive Officer of Star Royalties, commented: “The first quarter of 2021 not only represented our transition to a public company with the completion of our upsized and oversubscribed IPO, where we raised gross proceeds of C$26.8 million, but also our first full quarter of revenue generation. We continue to advance our precious metals pipeline with the focus on cash flowing and near-cash flowing opportunities. Star Royalties is also looking to expand its commitment to ESG through additional green investments in carbon sequestration projects.”

CONTACT INFORMATION

For more information, please visit our website at starroyalties.com or contact:

Alex Pernin, P.Geo.        Peter Bures

Chief Executive Officer and Director        Chief Business Development Officer

[email protected]        [email protected]
+1 647 801 3549        +1 437 997 8088

ABOUT STAR ROYALTIES LTD.

Star Royalties Ltd. is a precious metals royalty and streaming investment company. The company’s objective is to provide wealth creation through accretive transaction structuring and asset life extension with superior alignment to both counterparties and shareholders. With a strategy to also invest in green opportunities, Star Royalties is one of the first companies to establish a carbon credit royalty and is pursuing a pipeline of additional green investments.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION

Certain statements in this news release may constitute "forward-looking statements", including those regarding future market conditions for metals and minerals. Forward-looking statements are statements that address or discuss activities, events or developments that the Company expects or anticipates may occur in the future which include but are not limited to statements relating to the further expansion of gold mineralized zones at Arizona Gold, the execution on opportunities within the Star Royalties pipeline, potential for re-rating catalysts, deployment of IPO funds, and the pursuit of a pipeline of additional green investments and precious metals investments. When used in this news release, words such as "estimates", "expects", "plans", "anticipates", "will", "believes", "intends" "should", "could", "may" and other similar terminology are intended to identify such forward-looking statements. Forward-looking statements are made based upon certain assumptions and other important factors that, if untrue, could cause the actual results, performances or achievements of Star Royalties to be materially different from future results, performances or achievements expressed or implied by such statements. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be an accurate indication of whether or not such results will be achieved. A number of factors could cause actual results, performances or achievements to differ materially from such forward-looking statements, including, without limitation, changes in business plans and strategies, market conditions, share price, best use of available cash, the ability of the Company to identify and execute future acquisitions on acceptable terms or at all, risks inherent to royalty and streaming companies, title and permitting matters, metal and mineral commodity price volatility, discrepancies between actual and estimated production, mineral reserves and resources and metallurgical recoveries, mining operation and development risks relating to the parties which produce the metals and minerals Star Royalties will purchase or from which it will receive royalty payments, regulatory restrictions, activities by governmental authorities (including changes in taxation), currency fluctuations, the global social and economic climate, natural disasters and global pandemics, in particular COVID-19, dilution, and competition. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should exercise caution in relying upon forward-looking statements and the Company undertakes no obligation to publicly revise them to reflect subsequent events or circumstances, except as required by law.

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