Voyageur Mineral Explorers Corp. and Evolve Strategic Element Royalties Ltd. Announce $20 Million Financing

Core Viewpoint - Voyageur Mineral Explorers Corp. and Evolve Strategic Element Royalties Inc. are moving forward with a proposed business combination and Evolve plans to raise approximately $20 million through a private placement of subscription receipts [2][3][6] Group 1: Business Combination Details - Evolve intends to complete a private placement of subscription receipts for gross proceeds of approximately $20 million, with existing shareholders and management planning to subscribe for up to $9 million [2][3] - The subscription receipts will be offered at a price of $0.80 each, and the offering will be conducted on a "best efforts" private placement basis [3] - Upon closing, the gross proceeds will be held in escrow until certain conditions are met, including approval from the Canadian Securities Exchange [5][6] Group 2: Share Exchange and Consolidation - Each subscription receipt will automatically convert into one common share of Evolve upon meeting escrow release conditions, with a subsequent exchange for common shares of Voyageur based on an exchange ratio of 0.285 [5] - If the consolidation of Voyageur's common shares is not completed prior to the business combination, the exchange ratio will be adjusted to 1.14 common shares of the resulting issuer for each subscription receipt share [5] Group 3: Use of Proceeds - The net proceeds from the Evolve offering will be utilized for new growth investments, working capital, and general corporate purposes [6] Group 4: Company Profiles - Evolve is a strategic metals royalty company focused on securing premium assets in the low-carbon and digital economy, with a royalty portfolio that includes interests in Teck Resources and Hudbay Minerals [7] - Voyageur is a junior mineral exploration company with a focus on properties in Northwest Manitoba and Northeast Saskatchewan, holding royalties in the Flin Flon greenstone belt [8]