May 24, 2024 3:20 PM EDT | Source: Royalties Inc.
Toronto, Ontario--(Newsfile Corp. - May 24, 2024) - Royalties Inc. (CSE: RI) ("RI" or "the Company") reports its results for the first quarter ended March 31, 2024. Amounts are stated in US dollars unless otherwise stated.

This news release should be read in conjunction with the Company's unaudited financial statements and the associated management's discussion and analysis (MD&A) for the year ended March 31, 2024 which are available on the Company's website at www.royaltiesinc.com or under the Company's profile on SEDAR+ at www.SEDARplus.ca.

Progress in Q1

Royalties Inc. advanced the strategies on its 3 major investments:

monetizing the Bilbao silver-zinc-lead property in Zacatecas, Mexico, ideally by selling to an existing silver producer for cash and shares (to participate in the silver price up cycle), especially now that the silver price has crossed above the key PEA economic assumption of $30 per ounce silver for the first time since 2013;

achieving success in the lawsuit against Capstone Gold S.A. de C.V. to properly recognize and pay the 2% NSR on the Portree claims, which are part of the Cozamin mine and has been in production since 2020; and

acquiring cash flowing Music Royalties by monitoring and analysing potential deals.
Music Royalties

The Company's five cash flowing music royalties' investments generated $23,400 in the first quarter, an increase of 36% over $17,212 in the prior year's quarter. RI received $13,358 (CAD$18,000) in dividend income, up 20% versus $11,098 (CAD$15,000) in Q1 2023 from Music Royalties Inc. ("MRI"), a private company which has acquired 28 catalogues and paid out over CAD$8 million in 52 dividend payments to its shareholders since 2019.

Mining Royalties
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