Lumira Energy Limited agreed to acquire Sagvoll and Meråker projects in Norway from EMX Royalty Corporation (TSXV:EMX) on January 3, 2024. In related transaction Lumira Energy Limited acquires Copperhole Creek project in Queensland Australia. Lumira will vest a 100% interest in the Projects, by granting to EMX; a cash payment of AUD 0.05 million.

A 2.5% NSR royalty interest on each project; Annual advance royalty payments of AUD 0.035 million per project per year commencing upon the second anniversary of the IPO, with the AAR payments escalating by 15% per year until reaching a maximum of AUD 0.1 million per year; Equity payments of AUD 0.15 million in shares of Lumira upon completion of the IPO along with the same number of options exercisable at a 50% premium to the IPO price for two years and an additional same number of options exercisable at a 100% premium to the IPO price for three years. An additional 0.75 million shares upon the first anniversary of the IPO. Milestone payments include AUD 0.25 million in cash upon completion of a Preliminary Economic Assessment and AUD 0.5 million in cash upon completion of a Prefeasibility Study.