Sierra-Metals-Repurchases-Royalty-at-Its-Cusi-Silver-Mine-Mexico

TORONTO, Ontario–(BUSINESS WIRE)– Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) is pleased to announce that the Company has agreed to repurchase a royalty on its Cusi Silver Mine in Mexico, from Minera Cusi SA de CV for US$4.0 million. The royalty agreement required the Company to pay a 3% royalty on the net revenues generated by the mine, less transportation costs, for the life of the mine. The Company has already paid US$2.5 million upon signing the repurchase contract on May 10, 2019 and is required to pay a further US$1.5 million on May 10, 2021.