11:39 AM EDT, 03/18/2024 (MT Newswires) -- Gleason & Sons LLC said Monday that it increased its holdings in Empress Royalty Corp. ( EMPYF ) by 50% to 8.4% after buying additional 3 million shares in the company.

Gleason & Sons said it now holds 9.9 million shares in Empress with a current market value of $3.75 million.

"We are pleased to continue increasing our long-term investment in Empress as its management team executes on its plan of creating new, producing gold and silver royalties and streams," said Stefan Gleason, managing director of Gleason & Sons. "Empress is also now 'locked and loaded' with a large credit facility that should enable the company to substantially expand and diversify its royalty holdings in a mostly non-dilutive manner."

Gleason & Sons is the family office of Stefan Gleason, a Charlotte-based entrepreneur who owns several privately held businesses in the US. The company is focused on investing in mining royalty companies.

Empress was up 3.8% at last look following the news.

Price: 0.41, Change: +0.01, Percent Change: +2.50