Elemental Altus Announces Changes to Board Following Tether Investment
Elemental Altus Announces Changes to Board
Following Tether Investment
Vancouver, British Columbia--(Newsfile Corp. - June 17, 2025) - Elemental Altus Royalties Corp. (TSXV:
ELE) (OTCQX: ELEMF) ("
Elemental Altus
" or the "
Company
") is pleased to announce the
appointment of new directors to the Company (the "
Appointment
"), effective immediately, reflecting the
acquisition of a 37.8% stake in the Company by Tether Investments S.A. de C.V. ("
Tether
") and the right
to acquire a total of 51.8% of the Company's issued and outstanding common shares. Prior to the
Appointment, the Company's board of directors consented to Tether's exercise of its option over the
Company shares held by Alpha 1 SPV.
Tether's investment in the Company reflects an expanding commitment to real-world assets that deliver
stability, scalability and long-term value, recognizing Elemental Altus' disciplined royalty strategy and
exposure to gold as a resilient store of value.
Director Appointments
New Executive Chairman Juan Sartori and non-executive directors Simon Vumbaca, and Ravi Sood
have been appointed to the Board, alongside existing members Sandeep Singh and Prashant Francis.
Frederick Bell, who will continue as CEO of the Company, John Robins, Martin Turenne, Matthieu Bos,
and Vincent Benoit have agreed to step down.
These appointments are subject to ratification by shareholders at the upcoming Annual General Meeting.
"We are pleased to welcome our new directors as we enter an exciting phase of growth for the
Company,"
said
Frederick Bell, CEO
.
"With a streamlined Board, renewed ambition to scale the
business and the support of Tether, the Company is in a unique position to expand its portfolio of
predominantly gold royalties. As we look ahead, we also extend our sincere gratitude to the outgoing
directors whose guidance and dedication over the years have been instrumental in the Company's
development. They leave the Company in the strongest financial position in its history, providing a
solid foundation for the future."
Juan Sartori, newly appointed Executive Chairman
, added:
"The opportunity to invest in and
support the Company at this pivotal point is an important milestone in Tether's strategy to increase its
exposure to gold. Elemental Altus' management team has built a strong foundation through
disciplined execution and we look forward to supporting the next phase of transformational growth. By
leveraging the synergies and convergence we are witnessing between real and digital assets — driven
by crypto technologies, as exemplified by Tether Gold — we believe we can unlock substantial value.
We are also grateful for the hard work of all involved in enabling us to complete this investment so
quickly and for the outgoing Board for their years of service and meaningful contributions to the
Company's success."
Director Biographies
Juan Sartori
Mr. Sartori is the Chairman and founder of Union Group International Holdings, a privately owned
investment and private equity management firm with significant strategic Latin American interests. These
cover the agricultural, energy, forestry, infrastructure and real estate sectors. Mr. Sartori established
Union Group in 2007. Since its incorporation, Union Group and its subsidiaries have performed
numerous transactions growing its portfolio of businesses of private and public companies. He has
served as the non-executive Chairman of the Board for Union Acquisition Corp. II since December 2018
to 2021. He also served as Chairman of the Board of Union Acquisition Corp. from November 2017 until
it completed its merger with Bioceres Crop Solutions in March 2019. Mr. Sartori is the co-owner of
Sunderland A.F.C, Vice-President of AS Monaco Football Club, Board member of the European Club
Association and of the Professional Football League (LFP) in France, and Executive Chairman of
Adecoagro S.A. Mr. Sartori is a regular speaker about Latin American issues in worldwide conferences
and media. Mr. Sartori began his career as a financial services entrepreneur in 2002 launching Union
Capital Group, a Geneva based multi-strategy asset manager, selling its control in 2008. Mr. Sartori was
elected and served as Senator of the Uruguayan Parliament for the legislative period going from
February 15, 2020 to February 15, 2025. Mr. Sartori received a Bachelor Degree in Business and
Economics from École des Hautes Études Commerciales de Lausanne.
Ravi Sood
Mr. Sood is the managing director of Signal 8 Limited based in Toronto, Canada. Mr. Sood has been a
founder of and the principal investor in several businesses in emerging markets and currently serves as
Chief Executive Officer of Golconda Gold Ltd. (TSXV) and Executive Chairman of Abraxas Power Corp.
Mr. Sood was the founder and Chief Executive Officer of Navina Asset Management Inc., a global asset
management firm headquartered in Toronto, Canada. Mr. Sood led the investment activities of Navina
and its predecessor company, Lawrence Asset Management Inc., from its founding in 2001 until he sold
the firm in 2010. Mr. Sood received a Bachelor Degree of Mathematics at the University of Waterloo
where he was a Descartes Fellow and the recipient of numerous national awards.
Simon Vumbaca
Mr. Vumbaca is currently principal of London-based private investment office ASV Private Office where
he works with businesses to set and to execute sophisticated value creation strategies. Over the past
three decades, Mr. Vumbaca has led complex, high profile, and high value corporate and commercial
negotiations, including most recently the sale of Pit Stop Betting in 2019. He operates in a peer group of
investors including high-net worth individuals, overseas royal families, international conglomerates,
private investors, financial institutions, elite athletes, artists, and sports club owners. Mr. Vumbaca
currently serves as a non-executive director of Sunderland AFC, a professional English premier league
football club, and is the Chair of AIG, an Agro conglomerate, amongst other appointments. Mr. Vumbaca
holds a Masters (DEA) graduate degree from the Université Paris II Panthéon-Assas and is a licensed
member of the Law Society of England and Wales and of the Colegio de la Abogacia Espanola.
Frederick Bell
CEO
Corporate & Media Inquiries:
Tel: +1 604 646 4527
www.elementalaltus.com
Elemental Altus is a proud member of Discovery Group. For more information please visit:
www.discoverygroup.ca or contact +1 604 646 4527.
(TSXV: ELE) | (OTCQX: ELEMF) | (ISIN: CA28619K1093) | (CUSIP: 28619K109)
About Elemental Altus Royalties Corp.
Elemental Altus is an income generating precious metals royalty company with 10 producing royalties
and a diversified portfolio of pre-production and discovery stage assets. The Company is focused on
acquiring uncapped royalties and streams over producing, or near-producing, mines operated by
established counterparties. The vision of Elemental Altus is to build a global gold royalty company,
offering investors superior exposure to gold with reduced risk and a strong growth profile.
Neither the TSX-V nor its Regulation Service Provider (as that term is defined in the policies of the TSX-
V) accepts responsibility for the adequacy or accuracy of this press release.
About Tether Investments
Tether Investments is a corporation existing under the laws of the Republic of El Salvador and is an
affiliate of the Tether group of companies. Tether Investments is focused on strategic investments that
complement its vision for open financial systems supported by digital and real-world assets.
Cautionary note regarding forward-looking statements
This news release contains "forward-looking information" within the meaning of applicable Canadian
securities laws and "forward-looking statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995, (together, "forward-looking statements"), concerning the
business, operations and financial performance and condition of the Company. Forward-looking
statements include, but are not limited to, statements with respect to the future price of gold; the
estimation of mineral reserves and mineral resources; the realization of Mineral Reserve estimates; the
Company's growth prospects; the Company's estimated 2025 revenues; and the timing and amount of
estimated future production. Generally, forward-looking statements can be identified by the use of
forward-looking terminology such as "plans," "expects" or "does not expect," "is expected," "budget,"
"scheduled," "estimates," "forecasts," "intends," "anticipates" or "does not anticipate," "believes,"
"projects" or variations of such words and phrases or state that certain actions, events or results "may,"
"could," "would," "might" or "will be taken," "occur" or "be achieved." Forward-looking statements are
based on the opinions and estimates of management as of the date such statements are made, and
they are subject to known and unknown risks, uncertainties and other factors that may cause the actual
results, level of activity, performance or achievements of the Company to be materially different from
those expressed or implied by such forward-looking statements, including, but not limited to, volatility in
the price of gold, discrepancies between anticipated and actual production by companies in our
portfolio, risks inherent in the mining industry to which the companies in our portfolio are subject,
regulatory restrictions, the impact of the current COVID-19 pandemic on the companies in our portfolio,
activities by governmental authorities (including changes in taxation), currency fluctuations and the
accuracy of the mineral reserves, resources and recoveries set out in the technical data published by the
companies in our portfolio. Although management of the Company has attempted to identify important
factors that could cause actual results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company cautions readers not to place undue
reliance on forward-looking statements, as forward-looking statements involve significant risks and
uncertainties. Forward-looking statements should not be read as guarantees of future performance or
results and will not necessarily be accurate indications of whether or not the times at or by which such
performance or results will be achieved. The Company does not undertake to update any forward-
looking statements except in accordance with applicable Canadian securities laws. Readers are
directed to the Company's Annual Information Form dated April 29, 2024, filed under the Company's
profile on SEDAR+ (
www.sedarplus.ca
) for a complete list of applicable risk factors. Investors are
advised that National Instrument 43-101 Standards for disclosure for Mineral Projects ("NI 43-101") of
the Canadian Securities Administrators requires that each category of Mineral Reserves and Mineral
Resources be reported separately. Mineral Resources that are not Mineral Reserves do not have
demonstrated economic viability.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/255934