On August 16, 2022, Elemental Royalties Corp. ("Elemental"), a gold-focused royalty company listed on the TSX Venture Exchange, announced the completion of a share-for-share merger of equals (the "Merger") with Altus Strategies plc ("Altus"). The Merger has created a diversified and scalable royalty company well positioned to acquire further high-quality, producing royalty and streaming assets and to serve as a platform for further consolidation in the royalty sector.
The Merger was completed by way of a court-sanctioned scheme of arrangement under the laws of the United Kingdom and was approved by shareholders of Altus and by the shareholders of Elemental. Under the terms of the Merger, Elemental acquired all issued and outstanding share capital of Altus.
Elemental intends to change its name to ‘Elemental Altus Royalties Corp.’
Fasken advised Elemental with a Canada-U.K. cross border team led by John Sabetti, Guy Winter and Richard Steinberg and that included Chloe Gill-Braun, Rachel Charney, Zach Austin, Lucinda Patrick-Patel and Alexis Shamess (Corporate), Mitchell Thaw (Tax), and Aaron Stefan (Banking).
- United Kingdom