Mergers & Acquisitions ·
Elemental Royalty Corp acquires $290M portfolio from Orion Mine Finance, appoints new CEO
ELEElemental Royalty Corp
Elemental Royalty Corp announced a US$290 million acquisition of a portfolio comprising five precious metals streams and royalties from Orion Mine Finance, funded by US$200 million in cash and US$90 million in equity. Concurrently, the company entered into a non-binding agreement to divest its Generation Business to Carlin East Inc., with outgoing CEO David M. Cole stepping down to lead the new entity. Incoming CEO Frederick Bell has been appointed to replace him. The transactions are expected to reduce G&A by over 25%, increase scale, and simplify the corporate structure. Elemental also secured an upsized credit facility of up to US$300 million to support the acquisition. This mid-tier gold-focused streaming and royalty company operates in the precious metals mining sector.