Item 1A. Risk Factors
ITEM 1A. RISK
FACTORS
Information
regarding the Companys risk factors appears in Part I. – Item 1A. Risk Factors of our Annual Report
on Form 10-K for the fiscal year ended December 31, 2020, filed with the SEC on March 31, 2021. Below are material changes from
the risk factors previously disclosed in our Annual Report on Form 10-K for the fiscal year ended December 31, 2020.
Our
board of directors has formed a strategic review committee to explore strategic alternatives.
On
May 17, 2021, we issued a press release announcing the formation by of our board of directors of a strategic review committee
to identify, review and explore strategic alternatives with a view to enhancing stockholder value. We also announced the withdrawal
of the previously-announced proposal submitted by funds affiliated with Carlson Capital, L.P. to acquire our loan and royalty
assets.
Our
board of directors has not made any decision to enter into any transaction at this time, and there can be no assurance that the
exploration of strategic alternatives will result in any transaction being announced or agreed upon. We have not set a timetable
for the exploration of strategic alternatives, and we do not intend to comment on the strategic process any further until our
board of directors and the strategic committee have approved a specific transaction or as we otherwise determine to be appropriate
or required by law.
ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
None.
ITEM 3. DEFAULTS
UPON SENIOR SECURITIES.
None.
ITEM 4. MINE
SAFETY DISCLOSURES.
Not
Applicable.
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