On November 10 2025, the Supreme Court of British Columbia issued the final order approving EMX Royalty Corporation’s plan of arrangement with Elemental Altus Royalties Corp. and Acquireco, clearing the last regulatory hurdle for the merger and allowing the transaction to move forward.
The deal structure sees Elemental Altus acquire all outstanding EMX shares through an amalgamation with Acquireco, creating a new mid‑tier gold‑focused royalty company that will be listed under the name Elemental Royalty Corp. A concurrent $100 million financing from Tether Investments—approximately 75 million shares—will repay EMX’s credit facility, fund future royalty acquisitions, and ensure the merged entity is fully unlevered at closing. Upon completion, former EMX shareholders will own roughly 49 % of the new company, while current Elemental Altus shareholders will hold about 51 % on a fully diluted basis.
Leadership of the combined company will include Juan Sartori as executive chairman, David Cole as chief executive officer, and Frederick Bell as president and chief operating officer, bringing together experience from both legacy firms to drive growth and operational efficiency.
The court order also authorizes the delisting of EMX shares from the TSX Venture, NYSE American, and Frankfurt exchanges once the merger closes, expected by mid‑November 2025. Elemental Altus had planned a Nasdaq Capital Market listing, but the U.S. federal government shutdown and SEC closure have delayed that move, adding a short‑term liquidity consideration for investors.
Strategically, the merger positions the new entity as a premier gold‑focused royalty and streaming company, combining complementary portfolios and achieving greater scale. The financing structure and leadership alignment signal confidence in maintaining profitability while pursuing new acquisitions, and the regulatory approval marks a significant milestone toward realizing the combined company’s growth strategy.
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