- Elemental Royalties Corp. (ELE) completes a non-brokered private placement of 9.27 million common shares for gross proceeds of $14 million
- The net proceeds will be used to fund the acquisition of a gold stream at the Ming Copper-Gold Mine, and for working capital purposes
- Following the offering, Elemental has 78.2 million common shares outstanding
- Euro Pacific Asset Management (EPAM) acquired 900,000 Elemental common shares for investment purposes
- Elemental Royalties Corp. (ELE) is unchanged trading at $1.53 per share as of 1:14 p.m. ET
Elemental Royalties Corp. (ELE) has closed a non-brokered private placement of 9.27 million common shares for gross proceeds of $14 million.
The net proceeds will be used to fund the acquisition of a gold stream at the Ming Copper-Gold Mine in Newfoundland and Labrador, and the remainder will go towards general working capital purposes.
The transaction is expected to close shortly after April 1st. Following the offering, Elemental will have 78.2 million common shares outstanding.
Insiders of Elemental subscribed for a total amount of 1.09 million common shares for
In connection with the offering, Euro Pacific Asset Management (EPAM) acquired 900,000 Elemental common shares through Europac Gold Fund. This brings the total common shares controlled by EPAM, and all persons and companies acting jointly or in concert with EPAM, to 6.3 million, representing approximately 8.1 per cent of the issued and outstanding common shares.
EPAM has acquired 947,181 common shares since the commencement of the take-over bid. EPAM acquired the common shares for investment purposes only.
EPAM may increase or decrease its beneficial ownership, control or direction over common shares or other securities of Elemental through market transactions, private agreements or otherwise.
Elemental Royalties Corp. (ELE) is unchanged trading at $1.53 per share as of 1:14 p.m. ET.