Elemental Altus acquires royalty portfolio from First Mining

On February 21, 2023, Elemental Altus Royalties Corp. ("Elemental Altus") (TSXV: ELE) (OTCQX: ELEMF) announced that it had completed its previously announced acquisition of 19 mining royalties in Canada, the US, Mexico and Burkina Faso, from a wholly owned subsidiary of First Mining Gold Corp. (TSX: FF) (OTCQX: FFMGF).

As consideration for the royalties, Elemental Altus made a payment of US$3.5 million in cash and US$1.5 million of common shares.

Elemental Altus is an income generating precious metals royalty company with 11 producing royalties and a diversified portfolio of pre-production and discovery stage assets.

Gowling WLG advised Elemental Altus with respect to this transaction with a team that included Erik Goldsilver, Lee Sykes and Jaanam Mahboobani (corporate) and Lesley Kim (tax).