10:35 AM EDT, 10/22/2024 (MT Newswires) -- EMX Royalty ( EMX ) said Tuesday it has executed an exploration and option agreement to sell its Gumsberg polymetallic project in Sweden to private investment firm Alpha Future Funds.

At closing, EMX said it would get $100,000 and Alpha could acquire the entire project by meeting work commitments by the end of the agreement's first anniversary.

EMX added that upon exercising the option, Alpha will make additional cash payments of $850,000 as deferred option payments, spend a total of $5 million on the project by the agreement's fifth anniversary, pay annual advance royalty payments after completing the deferred option payments, give EMX an uncapped 2% net smelter return royalty, and deliver certain milestone payments.