Workflow
Mineral Rights and Royalties
icon
Search documents
Elemental Altus and EMX Announce Completion of Merger
Newsfile· 2025-11-13 10:00
Core Points - Elemental Altus Royalties Corp. and EMX Royalty Corporation have successfully completed their merger through a court-approved statutory plan of arrangement, following necessary approvals from securityholders and the court [1][5][11] - Elemental Altus will change its name to "Elemental Royalty Corporation," with trading under the new name expected to commence on November 14, 2025 [2][15] - A private placement financing with Tether Investments has closed, resulting in Tether purchasing 7,502,502 common shares at C$18.38 (US$13.33) per share, generating approximately US$100 million in gross proceeds [3][10] - Key executive appointments have been made, including David Cole as CEO and Frederick Bell as President and COO [4] - The merger is expected to enhance the combined company's scale, diversification, and growth profile, providing access to a portfolio of revenue-generating assets [5][14] - EMX common shares will be delisted from the TSX-V and NYSE American, and EMX has applied to cease being a reporting issuer in Canada [5][11] - The Tether Financing proceeds will be used for royalty acquisitions, repaying credit facilities, and covering transaction expenses [11][12] - Elemental Altus has applied for a listing on the Nasdaq under the ticker symbol "ELE," pending the reopening of the SEC [8][9]