Grangex and Anglo American agree to transfer Dannemora royalty to Sydvaranger

On 6 March 2023, GRANGEX AB (publ) (“Grangex”) announced the execution of a US$10,000,000 royalty agreement with Anglo American Marketing Limited (“Anglo American”), pursuant to which Anglo American were granted life-of-mine royalty payments on sales from Dannemora Iron AB (“Dannemora” and the “Dannemora Royalty”, respectively).
On 6 May 2024, Grangex announced the execution of a US$17,500,000 royalty agreement with Anglo American, pursuant to which Anglo American were granted life-of-mine royalty payments on sales from Grangex Sydvaranger AS (“Sydvaranger” and the “Sydvaranger Royalty”, respectively).  Under the terms of Sydvaranger Royalty, Anglo American has the right to transfer the Dannemora Royalty, whereby the payment made by Anglo American under the Dannemora Royalty will be consolidated with the payment made under the Sydvaranger Royalty.
On 17 February 2025, Grangex received notification that Anglo American wishes to exercise the above-mentioned transfer right.
As a result, the payments made by Anglo American under the Sydvaranger Royalty will now amount to US$27,500,000. Dannemora will be released from all obligations under the Dannemora Royalty, and all securities held by Anglo American in respect of the Dannemora Royalty will be released.