On April 1, 2022, Elemental Royalties Corp. ("Elemental"), a gold-focused royalty company listed on the TSX-V, announced the closing of its previously announced non-brokered private placement of common shares ("Common Shares") of Elemental (the "Offering"). Pursuant to the Offering, 9,275,000 Common Shares were issued at an issue price of C$1.51 per Common Share for aggregate gross proceeds of C$14,005,250.
The net proceeds of the Offering will be used to fund a portion of the consideration for the acquisition by Elemental of a gold stream on the Ming Copper-Gold Mine in Newfoundland and Labrador, pursuant to a gold purchase and sale agreement dated March 16, 2022 with Rambler Metals and Mining Canada Limited, a wholly owned subsidiary of Rambler Metals and Mining PLC, with the remainder for general working capital purposes.
Fasken advised Elemental with a team led by John Sabetti that included Rachel Charney, Krysten Zator and Taylor West.
Jurisdiction
- Ontario
