- Gold Royalty and Ely Gold (ELY) have completed their business combination to create a leading precious metals royalty company
- Gold Royalty acquired Ely Gold for 30,902,176 GROY shares plus C$84,008,748 in cash
- Ely will become Gold Royalty’s wholly-owned subsidiary and be delisted from the TSXV
- Gold Royalty Corp. offers creative financing solutions to the metals and mining industry
- Ely Gold Royalties is focused on developing recurring cash flow streams through North American precious metals properties
- Ely Gold (ELY) is down by 0.76 per cent and is currently trading at $1.30 per share
Gold Royalty and Ely Gold (ELY) have completed their business combination to create a leading precious metals royalty company.
Pursuant to the transaction, Gold Royalty acquired Ely Gold for 30,902,176 GROY shares, C$84,008,748 in cash, and 0.2450 GROY shares plus $0.0001 per outstanding Ely warrant, if exercised.
As a result, Ely Gold has become Gold Royalty’s indirect wholly-owned subsidiary.
Ely shares will be delisted from the TSXV as soon as practicable.
David Garofalo, CEO, President and Chairman of Gold Royalty, commented,
“With four producing royalties, 57 royalties on development stage assets and 45 royalties on exploration stage assets, the acquisition of Ely Gold creates a leading Americas-focused precious metals royalty company. The added scale, diversification, cash flow and access to capital provided by this transformative transaction well-positions us to further execute on our strategy and become a leading consolidator in the royalty space.”
Trey Wasser, CEO, President and Director of Ely Gold, added,
“Over the past several weeks, I have had the opportunity to work closely with the GRC team and remain impressed with the depth of their capabilities and their commitment to building a peer-leading precious metals royalty company. I look forward to joining GRC’s board and working with its management team to build on the solid foundation created through the combination of our companies.”
Gold Royalty Corp. is a gold-focused royalty company offering creative financing solutions to the metals and mining industry.
Ely Gold Royalties is focused on developing recurring cash flow streams through unencumbered North American precious metals properties.
Ely Gold (ELY) is down by 0.76 per cent and is currently trading at $1.30 per share as of 9:31 am ET.
