Essex Minerals puts focus on Renewable Energy by spinning out Royalty and Streaming company

Essex Minerals (CVE: ESX- OTCQB: ESXMF) CEO Paul Loudon joined Steve Darling from Proactive to share details the company is spinning out a new royalty and streaming company with a focus on Renewable Energy. The new company will be funded separately to Essex with the founding shares in the new venture to be distributed pro-rata to Essex shareholders.

Loudon telling Proactive, Essex is forming a new subsidiary called Optegra Capital Corp and will assign its rights under a previously announced Framework Financing Agreement with Zola Minerals.

Optegra plans to raise up to $50 million to fund the initial streams and will also have the rights to acquire Zola’s current and future rights to other streams being negotiated in the renewable energy, battery and precious metals sectors.

Story by ProactiveInvestors