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Elemental Royalties Upsizes Private Placement to $15 Million
Elemental Royalties Upsizes Private Placement to $15 Million Canada NewsWire ...
About this update from Elemental Royalty Corporation
[{"type":"text","content":"\n \n \n \n Elemental Royalties Upsizes Private Placement to $15 Million\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n VANCOUVER, BC, Nov. 23, 2020\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Nov. 23, 2020\n \n /CNW/ - Elemental Royalties Corp. (\"\n \n Elemental\n \n \" or \"the\n \n Company\n \n \") (TSXV: ELE) (OTCQX: ELEMF), a gold-focused royalty company providing investors with exposure to a growing portfolio of royalties, is pleased to announce that it has entered into a revised letter agreement with Canaccord Genuity, on behalf of a syndicate of underwriters (the \"Underwriters\"), pursuant to which the Underwriters have agreed upsize the previously announced private placement.  Under the revised terms, the Underwriters have agreed to purchase 10,000,000 subscription receipts (\"Subscription Receipts\") at a price of\n \n C$1.50\n \n per Subscription Receipt (the \"Issue Price\") for aggregate gross proceeds of\n \n C$15 million\n \n (up from\n \n $12 million\n \n previously announced), on a bought deal private placement basis (the \"Offering\"). In addition, the Underwriters shall have the option (the \"Underwriters' Option\"), exercisable until the closing of the Offering, to sell up to an additional 1,500,000 Subscription Receipts at the Issue Price for additional gross proceeds to the Company of up to\n \n C$2.25 million\n \n .\n \n \n \n \n Each Subscription Receipt will entitle the holder thereof to receive one common share (a \"Common Share\") of Elemental, without any further action on the part of the holder and without payment of additional consideration, upon satisfaction of the escrow release conditions including the satisfaction of all conditions precedent to completing the gold royalty acquisition announced earlier today with South32 Limited (the \"Acquisition\"). The aggregate gross proceeds of the Offering, less 50% of the Underwriters commission and certain expenses of the Offerin...