Elemental Royalties Corp. successfully defends against hostile takeover bid by Gold Royalty Corp.

On December 20, 2021, Gold Royalty Corp. ("Gold Royalty") announced its intention to launch a hostile bid to acquire all of the outstanding common shares of Elemental Royalties Corp. ("Elemental"). The hostile bid was launched on January 11, 2022, and the Elemental board of directors unanimously recommended that shareholders reject the hostile bid. The bid was extended for ten business days by Gold Royalty on April 27, 2022. On May 12, 2022, Elemental announced that the hostile bid was unsuccessful as a result of failing to meet the statutory minimum tender condition.

Fasken acted for Elemental with a team that included Richard Steinberg, John Sabetti, Florind Polo, Rachel Charney, Zach Austin and Alexis Shamess.