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Elemental Royalties Board Continues to Recommend Rejection of Gold Royalty's Hostile Takeover Bid
Vancouver, British Columbia--(Newsfile Corp. - April 26, 2022) - Elemental Royalties Corp. (TS...
About this update from Elemental Royalty Corporation
[{"type":"text","content":"Elemental Royalties Board Continues to Recommend Rejection of Gold Royalty's Hostile Takeover BidVancouver, British Columbia--(Newsfile Corp. - April 26, 2022) - Elemental Royalties Corp. (TSXV: ELE) (OTCQX: ELEMF) (\"Elemental\" or \"the Company\") today reiterated its recommendation that shareholders REJECT an inadequate, all-share hostile takeover bid (the \"Hostile Bid\") by Gold Royalty Corp. (\"Gold Royalty\").As previously disclosed, Elemental's board of directors (the \"Board\") has unanimously determined that the Hostile Bid is not in the best interests of the Company or its shareholders. Elemental has also previously disclosed that it has been informed by holders of more than 50% of the Company's shares that they intend to REJECT the Hostile Bid.Since the date immediately prior to Gold Royalty's stated public intention to make its all-share Hostile Bid, Gold Royalty's shares have depreciated by over 25%. Elemental's Board continues to actively review alternative and potentially more attractive strategic options involving counterparties other than Gold Royalty. Elemental cautions shareholders that there can be no certainty of a transaction.A Directors' Circular providing the full details of the Board's recommendation, including the reasons to REJECT the Hostile Bid, is available on the Company's website at https://www.elementalroyalties.com, and at www.sedar.com. Gold Royalty has stated that the Hostile Bid will expire at 5:00 p.m. (Toronto time) on April 27, 2022. To REJECT the Hostile Bid, Elemental shareholders should simply take No Action. If Elemental shareholders have tendered their shares and wish to withdraw them, simply ask your broker or contact Elemental's information agent, Morrow Sodali to assist you with this process. Morrow Sodali can be reached at 1-888-777-2158 or by e-mail at [email protected] Company has engaged Canaccord Genuity Corp. as its sole financial advisor and Fasken Martineau DuMoulin LLP as legal advisor to the Company and its Board. Longview Communications and Public Affairs is engaged as communications advisor to the Company. Morrow Sodali (Canada) Ltd. is acting as information agent and strategic advisor to Elemental. On behalf of Elemental Royalties Corp.Frederick BellCEO and DirectorInvestor Inquiries:Frederick Bell, CEO and Director Direct: +44 (0) 7554 872 79...