Elemental Royalties Limited completes reverse takeover of Fengro Industries Corp.

28 July 2020


On July 28, 2020, Elemental Royalties Corp. ("Elemental") (formerly Fengro Industries Corp. ("Fengro")) (TSXV: ELE) announced the closing of its previously announced business combination resulting in the reverse takeover of Fengro by Elemental Royalties Limited (the "Transaction"). On closing of the Transaction, the balance of the escrowed funds under the combined aggregate $23,969,029.50 subscription receipt financing were released to Elemental. 
Elemental is a precious metals royalty company with a portfolio of producing and exploration assets spanning Burkina Faso, Chile, Mexico, Kenya and Western Australia. It is anticipated that the common shares of Elemental will commence trading on the TSXV under the ticker symbol "ELE" on July 30, 2020.
Gowling WLG advised Elemental Royalties Limited with respect to this Transaction with a team that included Ian Mitchell, Marek Lorenc, Stephen Franchetto and Amanda Stevens (corporate/securities).

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