Royex, Galveston deal

Another paper shuffle within the Royex Gold Mining group has resulted in a 13.36% interest in Royex Gold being sold to Galveston Resources. Consideration for the deal is Galveston’s 1.13 million PezCorona Gold Corp. warrants. The warrants are exercisable against Pez Corona Gold, a wholly-owned subsidiary of Royex, for shares of International Corona Resources owned by PezCorona.

Prior to the transaction, Royex, which holds a 48.64% interest in Corona, could have been diluted to 38.71% as a result of the outstanding PezCorona warrants. As a result of the acquisition of the warrants, Royex’s potential dilution in Corona is limited to 43.72%.