Vizsla Royalties Announces Filing and Mailing of Meeting Materials to Approve Arrangement with Elemental Royalty
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FOR IMMEDIATE RELEASE June 16, 2026
VIZSLA ROYALTIES ANNOUNCES FILING AND MAILING OF MEETING MATERIALS TO APPROVE
ARRANGEMENT WITH ELEMENTAL ROYALTY
• Your vote is important – vote today.
• The Board of Directors (subject to abstentions where legally required) unanimously recommends
that Shareholders vote FOR the Arrangement Resolution.
• Shareholders with questions or who require voting assistance may contact Laurel Hill Advisory
Group by email at [email protected], or by texting “INFO” to, or calling, 1-877-452-7184
(North American toll-free) or 1-416-304-0211 (outside North America).
Vancouver, British Columbia (June 16, 2026) – Vizsla Royalties Corp. (“Vizsla Royalties” or the
“Company”) is pleased to announce that it has filed the notice of special meeting, management
information circular (the “Circular”) and related materials (collectively, the “Meeting Materials”) in
connection with the special meeting (the “ Meeting”) of shareholders of the Company (the
“Shareholders”).
At the Meeting, Shareholders will be asked to consider and approve a special resolution (the
“Arrangement Resolution”) approving the proposed plan of arrangement (the “Arrangement”) involving
the Company and Elemental Royalty Corporation (“Elemental”), pursuant to which Elemental will acquire
all of the issued and outstanding common shares of Vizsla Royalties (the “ Shares”). For additional
information, please refer to the joint news release of the Company and Elemental announcing the
Arrangement dated May 14, 2026.
On June 9, 2026, the Company obtained an interim order from the Supreme Court of British Columbia (the
“Court”) authorizing various procedural matters, including the holding of the Meeting and the mailing of
the Meeting Materials, a copy of which is included as Appendix B to the Circular. The hearing date of the
application for the final order of the Court approving the Arrangement is scheduled for July 14, 2026 at
9:45 a.m. (Vancouver time). A copy of the petition and notice of hearing of petition is included as Appendix
C to the Circular.
Vizsla Royalties has arranged for the distribution of the Meeting Materials to the Shareholders, and the
Meeting Materials are available on the Company’s website at www.vizslaroyalties.com and under the
Company’s profile on SEDAR+ at www.sedarplus.ca. Shareholders are encouraged to read the Meeting
Materials for additional information regarding the Meeting and the Arrangement.
Meeting Details
The Meeting will be held in person at Suite 1723, 595 Burrard Street, Vancouver, British Columbia on July
10, 2026 at 10:00 a.m. (Vancouver time).
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Reasons to Vote FOR the Arrangement Resolution
The Board of Directors (the “Board”) of the Company (subject to abstentions where legally required)
unanimously recommends that Shareholders vote FOR the Arrangement Resolution. Some of the key
factors and reasons considered by the Board include:
• The consideration represents a premium of 31% and 22% to the unaffected closing price and the
20-day volume weighted average trading price, respectively, of the Shares as at May 12, 2026 for
a total transaction value of approximately C$327 million.
• Elemental has a growing high-quality portfolio of over 200 royalties, with 18 producing, cash-
flowing royalties and 28 royalties in the advanced development stage, which will include the
Panuco Project following completion of the Arrangement.
• The consideration provides Shareholders with flexibility to elect to receive common shares of
Elemental, cash or a combination of both, subject to proration based on a maximum cash
consideration of approximately C$82 million, allowing them to crystallize value and/or retain
ongoing exposure to the Panuco Project through ownership of common shares of Elemental.
• The Arrangement provides an opportunity for Shareholders to participate in Elemental’s
enhanced capital markets profile with dual Nasdaq and TSX listings, broader research coverage
and an established institutional shareholder base, with the Arrangement further strengthening
Elemental as a leading intermediate royalty peer.
• Elemental recently announced its inaugural annual dividend of US$0.12 per share, paid quarterly,
which shareholders of Elemental can elect to receive in kind in the form of Tether Gold tokens.
• Elemental’s obligation to complete the Arrangement is subject to a limited number of conditions
that the Company believes are reasonable in the circumstances.
• The Board received a fixed-fee fairness opinion from CIBC World Markets Inc. and a special
committee comprised solely of independent directors of the Company (the “Special Committee”)
received a fixed-fee fairness opinion from Canaccord Genuity Corp., each providing that as of May
13, 2026, and based upon and subject to the various limitations, qualifications and assumptions
set forth therein, the consideration to be received by the Shareholders pursuant to the
Arrangement is fair, from a financial point of view, to the Shareholders.
• The Board (subject to abstentions where legally required) and the Special Committee have
unanimously recommended support for the Arrangement. In addition, the directors and senior
officers and certain shareholders of the Company who hold, in the aggregate, approximately 23%
of the outstanding Shares, have entered into voting and support agreements with Elemental,
pursuant to which they have agreed, among other things, to vote in favour of the Arrangement
Resolution at the Meeting.
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Vote Today
The proxy voting deadline is 10:00 a.m. (Vancouver time) on July 8, 2026. Shareholders are encouraged
to vote well in advance of the proxy voting deadline to ensure their votes are submitted in a timely
manner. Voting is easy. Shareholders may vote online, by mail, by telephone or by any other methods
provided in the form or proxy or voting instruction which form part of the Meeting Materials.
Shareholder Questions & Voting Assistance
Shareholders with questions or who require voting assistance may contact the Company’s proxy
solicitation agent:
Laurel Hill Advisory Group
North America Toll Free: 1-877-452-7184
Outside North America: 1-416-304-0211
Text Message: Text “INFO” to 416-304-0211 or 1-877-452-7184
Email: [email protected]
About Vizsla Royalties Corp.
Vizsla Royalties Corp. is a precious metals focused royalty company. The Company’s principal asset is a
net smelter returns royalty on Vizsla Silver’s (TSX: VZLA, NYSE: VZLA) flagship Panuco Project located in
Mexico. Panuco is a world-class silver and gold development project actively advancing towards
production.
Contact Information:
For more information and to sign-up to the mailing list, please contact:
Michael Pettingell, Chief Executive Officer
Tel: (604) 364-2215
Email: [email protected]
Website: www.vizslaroyalties.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release may contain “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 (collectively, “forward-looking statements”). These forward-
looking statements may include statements regarding the completion of the Arrangement and the timing
thereof; the value the Arrangement will add for Shareholders; the holding of the Meeting (without
adjournment, postponement or cancellation) and the timing thereof; the distribution of the Meeting
Materials and the timing thereof; the receipt of required approvals for the Arrangement, including but
not limited to the approval of the Arrangement Resolution at the Meeting ; and the benefits of the
Arrangement to the Shareholders and the ability to realize such benefits. Any statements that express or
involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives,
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assumptions or future events or performance (often, but not always, identified by words or phrases such
as “expects,” “anticipates,” “believes,” “plans,” “projects,” “estimates,” “assumes,” “intends,” “strategy,”
“goals,” “objectives,” “potential,” “possible” or variations thereof or stating that certain actions, events,
conditions or results “may”, “could”, “would”, “should”, “might” or “will” be taken, occur or be achieved,
or the negative of any of these terms and similar expressions) are not statements of historical fact and
may be forward-looking statements.
Forward-looking statements are based on a number of material assumptions, including those listed below,
which could prove to be significantly incorrect, including that there is no material disruption to production
at any of the mineral properties in which the Company or Elemental have a royalty or other interest; that
the Company and Elemental will receive all required approvals for the Arrangement in a timely manner;
estimated capital costs, operating costs, production and economic returns; estimated metal pricing;
metallurgy, mineability, marketability and operating and capital costs; the expected ability of any of the
properties in which the Company or Elemental hold a royalty or other interest to develop adequate
infrastructure at a reasonable cost; assumptions that all necessary permits and governmental approvals
will remain in effect or be obtained as required to operate, develop or explore the various properties in
which the Companies hold an interest; and the activities on any of the properties in which the Company
or Elemental hold a royalty, or other interest will not be adversely disrupted or impeded by development,
operating or regulatory risks or any other government actions.
Certain important factors that could cause actual results, performances or achievements to differ
materially from those in the forward-looking statements include, amongst others, failure to obtain any
required regulatory, court and shareholder approvals with respect to the Arrangement; the inability to
satisfy the conditions to closing the Arrangement; volatility in the price of silver, gold or other minerals or
metals; discrepancies between anticipated and actual production with respect to Panuco Project a nd
other portfolio assets; the accuracy of the mineral reserves, mineral resources and recoveries set out in
the technical data published by the owner of the Panuco Project and the owners of other portfolio assets;
the absence of control over mining operations from which the Company or Elemental receive royalties,
and risks related to those mining operations, including risks related to international operations,
government and environmental regulation, actual results of current exploration activities, conclusions of
economic evaluations and changes in project parameters as plans continue to be refined, activities by
governmental authorities (including changes in taxation); currency fluctuations; the global economic
climate; dilution; share price volatility and competition.
Forward-looking statements are subject to known and unknown risks, uncertainties and other important
factors that may cause the actual results, level of activity, performance or achievements of the Company
or Elemental to be materially different from those expressed or implied by such forward -looking
statements, including but not limited to: the impact of general business and economic conditions, the
absence of control over mining operations from which the Company or Elemental will receive royalties,
and risks related to those mining operations, including risks related to international operations,
government and environmental regulation, actual results of current exploration activities, conclusions of
economic evaluations and changes in project parameters as plans continue to be refined, risks in the
marketability of minerals, fluctuations in the price of silver, gold and other commodities, fluctuation in
foreign exchange rates and interest rates, stock market volatility, as well as those factors discussed in (A)
Elemental’s Annual Information Form and Management’s Discussion and Analysis most recently filed
under Elemental’s profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov; and (B) the
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Meeting Materials and the Company’s Annual Information Form and Management’s Discussion and
Analysis most recently filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. Although the
Company has attempted to identify important factors that could cause actual results to differ materially
from those 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 does not undertake to update any forward -looking statements that are contained or
incorporated by reference herein, except in accordance with applicable securities laws.