Evolve Royalties Announces Closing of Previously-Announced Acquisition of Tin Royalty on the Uis Mine in Namibia

The most recent news release dated May 13, 2026, confirms the closing of the previously announced acquisition of the "Uis Royalty" on the Uis Mine in Namibia. The transaction was initially detailed in February 2026 (NewsId: 91570) and finalized with a total consideration of $32.5 million ($22.5M cash + 4,199,830 common shares valued at $10.0M). The royalty is a sliding-scale gross revenue contractual royalty on tin production from the Andrada Mining Ltd.-operated Uis Tin-Tantalum Mine.

The company forecasts this asset will generate between $4.0 million and $4.5 million in revenue for 2026, assuming LME tin prices of approximately $45,000 per tonne. This follows the May 11, 2026 announcement regarding Evolve Royalties' upgrade from OTC Pink Limited to OTCQX Best Market (NewsId: 1740529), which improves accessibility for U.S. investors and signals compliance with high financial standards.

Historical context shows the company completed its business combination and listing on the Canadian Securities Exchange (CSE) in December 2025, transitioning from Voyageur Minerals Explorers Corp. The portfolio includes copper-focused royalties (Highland Valley Copper, Copper Mountain) and diversified battery metal exposure prior to this tin acquisition.

The closing of the Uis Royalty is categorized as Routine - Positive. While the asset adds immediate cash flow visibility ($4-4.5M revenue on $32.5M cost implies a ~12-14% yield in year one), the terms were fully disclosed in February 2026. The market has had three months to price in this specific revenue stream and dilution (4.2M shares issued).

The OTCQX upgrade is also positive but largely incremental, serving as a governance milestone rather than an operational catalyst. There are no surprises regarding the deal structure or financial impact compared to the February announcement. The primary materiality lies in the confirmation that regulatory approvals were secured and cash was deployed as planned, reducing execution risk on this specific asset. However, given the share issuance used for part of the consideration ($10M), there is a dilutive effect on existing shareholders that offsets some of the accretive revenue benefit.

Evolve Royalties Ltd. operates as a royalty and streaming company focused on copper, battery metals (lithium), and now tin. The flagship portfolio includes: * Highland Valley Copper: Net profit interest in Teck Resources' asset (BC). * Copper Mountain Mine: NSR royalties on Hudbay Minerals' asset (BC). * Uis Tin-Tantalum Mine: New acquisition of a sliding-scale gross revenue royalty (Namibia), operated by Andrada Mining. * McIlvenna Bay Project: Net tonnage royalty on Foran Mining's project including the Tesla Zone.

The company positions itself as a diversified commodity exposure vehicle with long-life assets, aiming to deliver consistent returns across cycles. The Uis acquisition diversifies their copper-heavy portfolio into tin, a critical electrification metal.