Altus and Elemental Royalties Corp (TSX-V: ELE) have announced a share for share merger of equals with the entire issued share capital of Altus to be acquired by Elemental. The merger is to be implemented by a scheme of arrangement. Upon completion, the new Elemental Altus Group will be owned 52.9% and 47.1% by Elemental and Altus shareholders respectively. The rationale for the deal includes increased scale, diversification and cost synergies to create a fast growing global royalty company.
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Altus to merge with Elemental Royalties
- Published:
15 Jun 2022 -
Author:
Phil Swinfen -
Pages:
2
Altus and Elemental Royalties Corp (TSX-V: ELE) have announced a share for share merger of equals with the entire issued share capital of Altus to be acquired by Elemental. The merger is to be implemented by a scheme of arrangement. Upon completion, the new Elemental Altus Group will be owned 52.9% and 47.1% by Elemental and Altus shareholders respectively. The rationale for the deal includes increased scale, diversification and cost synergies to create a fast growing global royalty company.