Elemental Royalties closes subscription receipt offering

On June 10, 2020, Elemental Royalties Limited ("Elemental") closed its previously announced brokered private placement offering of subscription receipts for combined aggregate gross proceeds of $23,969,029.50. The offering was completed in connection with the proposed reverse takeover of Fengro Industries Corp. (TSXV FGR.H) by Elemental. The agents included Canaccord Genuity Corp. acting as lead agent and sole bookrunner, together with Haywood Securities Inc. and Sprott Capital Partners LP.

Elemental is a precious metals royalty company based in the British Virgin Islands with a portfolio of producing and exploration assets spanning Burkina Faso, Chile, Mexico, Kenya and Western Australia.

Gowling WLG advised Elemental with respect to this offering with a team that included Ian Mitchell, Marek Lorenc, Stephen Franchetto and Amanda Stevens (corporate/securities), assisted by student-at-law Adam Sherman.