Moving forward ... "VANCOUVER, BC, Jan. 11, 2022 /CNW/ - Gold Royalty Corp. .. announced today that, further to its news release dated December 20, 2021, it has formally commenced its offer to acquire all of the outstanding common shares of Elemental Royalties Corp., together with the associated rights under Elemental's shareholder rights plan dated December 30, 2021. The Offer is open for acceptance until 5:00 p.m. (Toronto time) on April 27, 2022. Subject to applicable securities laws, the deposit period may be extended, or in certain circumstances reduced, by Gold Royalty.
The Consideration
Under the terms of the Offer, Elemental shareholders will receive 0.27 common shares of Gold Royalty in exchange for each Elemental Share, together with the associated SRP Right. The Offer values Elemental at C$1.78 per share and represents a premium of 37% to Elemental shareholders based upon the closing prices of the Elemental Shares on the TSX Venture Exchange and the Gold Royalty Shares on the NYSE American on December 17, 2021, being the trading day immediately prior to the announcement on December 20, 2021 of Gold Royalty's intention to acquire Elemental. The Offer implies a total equity value for Elemental of approximately C$130 million on a fully diluted, in-the-money basis, and Elemental shareholders are expected to own approximately 12% of the combined entity upon completion of the transaction."
Gold Royalty Commences Formal Offer to Acquire Elemental Royalties Corp. (yahoo.com)