Gold Royalty to Acquire Elemental Royalties for CDN 1.78/Share.

MANews-(C)2009-2021

Canada-based royalty company Gold Royalty Corp. (NYSE American: GROY) has announced its intention to pursue an offer to acquire all of the outstanding common shares of Elemental Royalties Corp. (TSX Venture: ELE) for 0.27 common shares of Gold Royalty in exchange for each Elemental Share, valued at CDN 1.78 per share (USD 1.39), the company said.

The offer represents a premium of 37% to Elemental shareholders based upon the closing prices of the Elemental Shares on the TSX Venture Exchange and the Gold Royalty Shares on the NYSE American on December 17, 2021.

The offer implies a total equity value for Elemental of approximately CDN 130m (USD 101m), and Elemental shareholders are expected to own approximately 12% of the combined entity upon completion of the transaction.

The Combination of Gold Royalty and Elemental will Create a Portfolio of 200 Strategic Royalties.

The combined entity will have a balanced portfolio of cash flowing, development and exploration assets owned by premier operating partners and located in Tier 1 mining jurisdictions.

This provides Elemental shareholders with ownership in a larger, more diversified, higher quality portfolio of royalty assets anchored by cornerstone...

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