Elemental Royalties Provides Statement on Gold Royalty's Intention to Make Unsolicited Bid
Elemental Royalties Provides Statement on
Gold Royalty's Intention to Make Unsolicited
Bid
Vancouver, British Columbia--(Newsfile Corp. - December 20, 2021) - Elemental Royalties Corp.
(TSXV: ELE) (OTCQX: ELEMF) ("
Elemental
" or "the
Company
") is responding to the news release by
Gold Royalty Corp. ("
Gold Royalty
") regarding Gold Royalty's intention to make an unsolicited offer to
acquire all of the outstanding common shares of the Company.
The Company's Board of Directors (the "
Board
") cautions shareholders that no formal offer has been
made by Gold Royalty, and as such there is no need for shareholders to take any action at this time.
When and if a formal offer is made, it will be reviewed by the Board with its legal and financial advisors,
and a formal recommendation by the Board will be made to shareholders in due course.
The Company confirms that it previously received unsolicited, non-binding and conditional proposals
from Gold Royalty to acquire all of the issued and outstanding common shares of the Company (the
"
Conditional Proposals
"). Upon receipt of the Conditional Proposals, consistent with its fiduciary
duties, the Board engaged legal and financial advisors to assist the Company in assessing the
Conditional Proposals.
In response, based on a comprehensive assessment of the Conditional Proposals, the Board informed
Gold Royalty that the Board did not find the Conditional Proposals compelling, and therefore did not
have an interest in pursuing any such proposals.
Advisors
The Company has engaged Canaccord Genuity Corp. as its sole financial advisor and Fasken
Martineau DuMoulin LLP as legal advisor to the Company and its Board. Longview Communications
and Public Affairs is engaged as communications advisor to the Company.
On behalf of Elemental Royalties Corp.
Frederick Bell
CEO and Director
Investor Inquiries:
Frederick Bell, CEO and Director
Direct: +44 (0) 7554 872 794
Email:
John Robins, Director
Direct: +1 (604) 657 6226
Media Inquiries:
Longview Communications and Public Affairs
Alan Bayless, Vancouver: (604) 417-9645,
Andy Lloyd, Toronto: (416) 402-5029,
Elemental is a proud member of Discovery Group. For more information please visit:
www.discoverygroup.ca
or contact 604-653-9464.
(TSXV: ELE) | (OTCQX: ELEMF) | (ISIN: CA28619L1076)
About Elemental Royalties
Elemental is a gold-focused royalty company listed on the TSX-V in Canada and provides investors with
lower risk precious metals exposure through a portfolio of nine high-quality royalties. This enables
investors to benefit from ongoing royalty revenue, future exploration upside and low operating costs.
Elemental's experienced team seeks to secure royalties in advanced precious metals projects, run by
established operators, from its pipeline of identified opportunities.
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.
Cautionary note regarding forward-looking statements
This release contains certain "forward-looking statements" and certain "forward-looking information" as
defined under applicable Canadian securities laws. Forward-looking statements and information can
generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect",
"intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology.
Forward-looking statements and information include, but are not limited to, statements with respect to
the future growth and development of the Company and whether a formal offer will be made by Gold
Royalty. Forward-looking statements and information are based on forecasts of future results, estimates
of amounts not yet determinable and assumptions that, while believed by management to be reasonable,
are inherently subject to significant business, economic and competitive uncertainties and
contingencies. Forward-looking statements and information are subject to various known and unknown
risks and uncertainties, many of which are beyond the ability of Elemental to control or predict, that may
cause Elemental's actual results, performance or achievements to be materially different from those
expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties
and other factors set out herein, including but not limited to: the requirement for regulatory approvals and
third party consents, the impact of general business and economic conditions, the absence of control
over the mining operations from which Elemental will receive royalties, including risks related to
international operations, government relations and environmental regulation, the inherent risks involved in
the exploration and development of mineral properties; the uncertainties involved in interpreting
exploration data; the potential for delays in exploration or development activities; the geology, grade and
continuity of mineral deposits; the impact of the COVID-19 pandemic; the possibility that future
exploration, development or mining results will not be consistent with Elemental's expectations;
accidents, equipment breakdowns, title matters, labour disputes or other unanticipated difficulties or
interruptions in operations; fluctuating metal prices; unanticipated costs and expenses; uncertainties
relating to the availability and costs of financing needed in the future; the inherent uncertainty of
production and cost estimates and the potential for unexpected costs and expenses, commodity price
fluctuations; currency fluctuations; regulatory restrictions, including environmental regulatory restrictions;
liability, competition, loss of key employees and other related risks and uncertainties. Elemental
undertakes no obligation to update forward-looking information except as required by applicable law.
Such forward-looking information represents management's best judgment based on information
currently available. No forward-looking statement can be guaranteed, and actual future results may vary
materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements
or information.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/108171