Business
Elemental Altus Completes Acquisition of Royalty Portfolio from First Mining
Vancouver, British Columbia--(Newsfile Corp. - February 21, 2023) - Elemental Altus Royalties Cor...
About this update from Elemental Royalty Corporation
[{"type":"text","content":"Elemental Altus Completes Acquisition of Royalty Portfolio from First MiningVancouver, British Columbia--(Newsfile Corp. - February 21, 2023) - Elemental Altus Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) (\"Elemental Altus\" or \"the Company\") is pleased to announce that it has completed the previously announced acquisition of 19 royalties (the \"Royalties\") from a wholly owned subsidiary of First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF) (\"First Mining\").Frederick Bell, CEO of Elemental Altus, commented: \"We're delighted to complete this transaction and create further value for shareholders by adding high quality development stage projects to the portfolio and pairing them with our peer leading 11 producing royalties, contributing to our unique growth story within the royalty space.\"As consideration for the Royalties, Elemental Altus made a cash payment of US$3.5 million in cash and US$1.5 million of common shares based on the 20-day volume-weighted average price of shares traded on the TSX Venture Exchange prior to this announcement at a price of C$1.253. The shares issued to First Mining Gold represent approximately 0.88% of the Company's enlarged share capital and will be escrowed from trading for six months.On behalf of Elemental Altus Royalties Corp.Frederick BellCEO and DirectorCorporate & Media Inquiries:Frederick Bell, CEODirect: +44 (0) 7554 872 [email protected] Altus is a proud member of Discovery Group. For more information please visit: www.discoverygroup.ca or contact 604-653-9464.TSX.V: ELE | OTCQX: ELEMF | ISIN: CA28619K1093 | CUSIP: 28619K109About Elemental Altus Royalties Corp.Elemental Altus is an income generating precious metals royalty company with 11 producing royalties and a diversified portfolio of pre-production and discovery stage assets. The Company is focused on acquiring uncapped royalties and streams over producing, or near-producing, mines operated by established counterparties, as well as generating royalties on new discoveries. The vision of Elemental Altus is to build a global gold royalty company, offering investors superior exposure to gold with reduced risk and a strong growth profile.NotesNeither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or ...