Sprott Entities Report 5,630,863 EMX Shares; 5.2% Ownership

Rhea-AI Filing Summary

Sprott Inc. and Sprott Asset Management USA Inc. report beneficial ownership of 5,630,863 common shares of EMX Royalty Corporation, representing 5.2% of the class. Both reporting persons state zero sole voting or dispositive power and shared voting and dispositive power over all 5,630,863 shares. The filing explains the shares are directly owned by advisory clients of Sprott Asset Management USA Inc., a subsidiary of Sprott Inc., and includes a disclaimer that the reporting persons disclaim beneficial ownership except to the extent of any pecuniary interest. Joint filing and control-person exhibits are attached.

Positive

• Regulatory compliance: Filing clearly discloses ownership above the 5% threshold and includes required exhibits
• Transparency: Identifies amount (5,630,863 shares) and percent (5.2%) and clarifies holdings are for advisory clients

Negative

• None.

Insights

Securities Analyst

TL;DR: Sprott entities disclose a >5% stake (5.2%) in EMX with shared voting/dispositive power via advisory client holdings.

The Schedule 13G shows a non-control, passive reporting posture: both Sprott Inc. and Sprott Asset Management USA report shared voting and dispositive power but no sole power, and they state the securities are held for advisory clients and in the ordinary course of business. The disclosure meets Section 13 requirements for a passive investor exceeding the 5% threshold and clarifies ownership attribution through a subsidiary relationship. This is a routine institutional disclosure rather than an activist or control claim.

Corporate Governance Expert

TL;DR: Filing identifies potential influence via shared voting power but includes explicit disclaimers of control or Section 16 beneficial ownership.

The document provides necessary identification and exhibits (Joint Filing Agreement; Control Person Identification). It specifies shared voting/dispositive authority over 5,630,863 shares (5.2%) and includes the customary disclaimer that reporting persons do not assert beneficial ownership beyond pecuniary interest. From a governance perspective, this clarifies attribution for voting records and regulatory compliance without claiming control rights or an intent to alter management.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

EMX ROYALTY CORPORATION

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

26873J107

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 26873J107

1

Names of Reporting Persons

Sprott Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

ONTARIO, CANADA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,630,863.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,630,863.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,630,863.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

HC, CO

SCHEDULE 13G

CUSIP No. 26873J107

1

Names of Reporting Persons

Sprott Asset Management USA Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

CALIFORNIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 5,630,863.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 5,630,863.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,630,863.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.2 %

12

Type of Reporting Person (See Instructions)

IA, CO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: EMX ROYALTY CORPORATION
(b)	Address of issuer's principal executive offices: Suite 501 - 543 Granville Street ,Vancouver, British Columbia, Canada V6C 1X8
Item 2.
(a)	Name of person filing: Sprott Inc. Sprott Asset Management USA Inc.
(b)	Address or principal business office or, if none, residence: Sprott Inc. Royal Bank Plaza, South Tower 200 Bay Street, Suite 2600 Toronto, ON M5J 2J1 Canada Sprott Asset Management USA Inc. 320 Post Road, Suite 200 Darien, CT 06820 United States of America
(c)	Citizenship: Sprott Inc. - Other - Toronto, Canada Sprott Asset Management USA Inc. - Other - California
(d)	Title of class of securities: Common Shares, no par value
(e)	CUSIP No.: 26873J107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Sprott Inc. - 5,630,863 Sprott Asset Management USA Inc. - 5,630,863
(b)	Percent of class: Sprott Inc. - 5.2% Sprott Asset Management USA Inc. - 5.2%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Sprott Inc. - 0 Sprott Asset Management USA Inc. - 0
	(ii) Shared power to vote or to direct the vote: Sprott Inc. - 5,630,863 Sprott Asset Management USA Inc. - 5,630,863
	(iii) Sole power to dispose or to direct the disposition of: Sprott Inc. - 0 Sprott Asset Management USA Inc. - 0
	(iv) Shared power to dispose or to direct the disposition of: Sprott Inc. - 5,630,863 Sprott Asset Management USA Inc. - 5,630,863
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. All of the securities reported in this Schedule 13G are directly owned by advisory clients of Sprott Asset Management USA Inc., a subsidiary of Sprott Inc. None of those advisory clients may be deemed to beneficially own more than 5% of the Common Stock, $0.01 par value.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Please see Exhibit B attached hereto.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Sprott Inc.

Signature:	Thomas Ulrich
Name/Title:	Thomas Ulrich/Authorized Person
Date:	08/14/2025

Sprott Asset Management USA Inc.

Signature:	/s/ Thomas Ulrich
Name/Title:	Thomas Ulrich/Authorized Person
Date:	08/14/2025

Comments accompanying signature: * Each Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his, her or its pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. To the extent that "ownership of 5 percent or less of a class" was indicated in Item 5, such response only applies to the Reporting Person(s) that indicated elsewhere herein that it beneficially owns five percent (5%) or less of the class.

Exhibit Information

Exhibit A - Joint Filing Agreement Exhibit B - Control Person Identification

FAQ

How many EMX (EMX) shares do Sprott entities report owning?

The filing reports 5,630,863 shares, representing 5.2% of EMX common shares.

Do Sprott Inc. or Sprott Asset Management USA have sole voting power over the EMX shares?

No. Both reporting persons state 0 sole voting power and 5,630,863 shared voting power.

Are the EMX shares directly owned by Sprott or by clients?

The filing states the securities are directly owned by advisory clients of Sprott Asset Management USA Inc.

Does the filing claim control of EMX or Section 16 beneficial ownership?

No. The filing includes a disclaimer that the reporting persons disclaim beneficial ownership except for pecuniary interest and do not claim control.

What exhibits are included with this Schedule 13G?

Exhibit A (Joint Filing Agreement) and Exhibit B (Control Person Identification) are listed in the filing.