Experience

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

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Overview

Client

Elemental Royalties 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.

Jurisdictions

  • Canada
  • United Kingdom

Team

  • Richard J. Steinberg, Partner | M&A, Mining, Toronto, ON, +1 416 865 5443, [email protected]
  • John M. Sabetti, Partner | Mergers & Acquisitions, Toronto, ON, +1 416 865 4455, [email protected]
  • Rachel Phillips, Partner | Mergers & Acquisitions, Toronto, ON, +1 416 865 5154, [email protected]
  • Zach Austin, Partner | Mergers & Acquisitions, Toronto, ON, +1 416 865 4375, [email protected]
Richard J. Steinberg, Partner | M&A, Mining Richard J. Steinberg Partner | M&A, Mining Toronto, ON +1 416 865 5443
John Sabetti Toronto Lawyer John M. Sabetti Partner | Mergers & Acquisitions Toronto, ON +1 416 865 4455
Rachel Charney Toronto Lawyer Rachel Phillips Partner | Mergers & Acquisitions Toronto, ON +1 416 865 5154
Zach Austin, Partner | Mergers & Acquisitions Zach Austin Partner | Mergers & Acquisitions Toronto, ON +1 416 865 4375