On November 13, 2025, Elemental Royalty Corporation, a Canadian mining royalty company, completed its US$933 million merger with EMX Royalty Corporation by way of a court-approved statutory plan of arrangement under the Business Corporations Act (British Columbia). Concurrently, the company completed a US$100 million private placement financing with Tether Investments S.A. de C.V. and changed its name from Elemental Altus Royalties Corp. to Elemental Royalty Corporation.
The transaction combined two established royalty businesses to create a larger, publicly traded mining royalty platform with an implied market capitalization of approximately US$933 million. Under the arrangement, former EMX shareholders received Elemental shares and became owners of approximately 49% of the combined company, while existing Elemental shareholders retained approximately 51%. The transaction was further distinguished by the concurrent strategic financing and enabled the combined company to become listed on Nasdaq in the United States and subsequently uplist to the Toronto Stock Exchange in Canada, strengthening its access to capital markets and positioning it for future growth.
Fasken advised Elemental Royalty Corporation with a team led by John Sabetti and Justine Connors and included Richard Steinberg, Martin Ferreira Pinho, Sarah Martin, Victoria Zed, Rohat Jumani, Kathryn McCoy, Anthony Foreshew, Huy Do, Henry Gray, Christopher Steeves, Rhys Godin, Aaron Stefan, Nathan Gates, Jordan Thompson, Matthew Allard and Mark Pontin.
Jurisdiction
- Canada
