Tether Investments S.A. de C.V. (Tether) has agreed to purchase approximately 75 million additional Elemental Altus shares at a price of C$1.84 per share for aggregate gross proceeds of US$100 million.
This strategic investment was based on Tether's strategy of increasing gold exposure and in support of the merger of Elemental Altus Royalties Corp. and EMX Royalty Corporation to create a new mid-tier gold focused royalty company—Elemental Royalty Corp.
Tether Investments is the independent investment arm of Tether, one of the largest companies in the digital assets industry and the pioneer of the world's first and most widely used stablecoin, USDT.
Bennett Jones is acting as legal advisor to Tether.
The Bennett Jones team was led by Gordon Cameron and Kristopher Hanc (M&A) and included Xenia Wong, Jaiscelle Aristorenas (M&A) and Zirjan Derwa (Competition/Antitrust).