Gold Royalty Takes Offer To Acquire Elemental Royalties Directly To Shareholders

Gold Royalty Corp. (NYSE: GROY) declared today its intent to acquire Elemental Royalties Corp. (TSXV: ELE) directly to shareholders. The proposed acquisition is approximately valued at $130 million.

The offer stands at exchanging 0.27 Gold Royalty shares for each Elemental Royalties share held. This effectively values per Elemental share at $1.78, or a 37% premium to its closing price on December 17, 2021.

Gold Royalty relayed that its first submitted acquisition proposals to the board of Elemental Royalties on October 21 and December 15, 2021. But sans “any constructive engagement”, the firm is taking the offer directly to the shareholders.

“[We] believe that this transaction is in the best interests of the shareholders of both Elemental and Gold Royalty, which is why we intend to take the Offer directly to Elemental shareholders,” said CEO David Garofalo.

Gold Royalty last traded at US$5.15 on the NYSE while Elemental Royalties last traded at $1.30 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

Costco Gold Sales: Middle Class Turning to Precious Metals? With David Garafolo of Gold Royalty Corp

In this interview, David Garofalo, CEO & Chairman of Gold Royalty Corp. (NYSE: GROY), provides...

Tuesday, October 15, 2024, 04:00:00 PM

Gold Royalty Eyes 2025 as Key Year for Strong Cash Flow with Peter Behncke

In this interview at the Precious Metals Summit 2024, Peter Behncke, Director of Corporate Development...

Thursday, September 19, 2024, 02:29:00 PM

Gold Royalty Looks To Acquire Royalties On Monarch Mining Properties For $15 Million

Gold Royalty Corp. (NYSE: GROY) announced today that it has signed a definitive agreement to...

Friday, July 23, 2021, 09:15:00 AM

Elemental Royalties Posts US$1.2 Million In Revenue, US$1.1 Million Net Loss For Q2 2021

Elemental Royalties Corp. (TSXV: ELE) shared today its and financial results for Q2 2021. The...

Monday, August 23, 2021, 08:55:00 AM

Gold Royalty Updates Stakeholders With Royalties Portfolio Following Abitibi, Golden Valley Acquisition Announcement

Gold Royalty Corp. (NYSE: GROY) announced this morning the portfolio of the resulting royalty company...

Monday, September 27, 2021, 10:38:00 AM