Elemental secures antitrust approval to proceed with Vizsla Royalties acquisition
Nasdaq- and TSX-listed Elemental Royalty Corporation has garnered permission from Mexico's antitrust agency, the Comisión Nacional Antimonopolio to acquire TSX-V-listed Vizsla Royalties Corporation for C$327-million, or $239-million.
The transaction provides Elemental with exposure to Vizsla Royalties' 2% to 3.5% net smelter returns royalties on Vizsla Silver's Panuco silver/gold project in Mexico.
The Panuco royalties will be cornerstone assets in the Elemental portfolio and are life-of-mine interests with no caps, buybacks or step-downs, covering the entire existing resources at Panuco.
Elemental CE David Cole says receiving antitrust approval is the final regulatory milestone needed to complete the acquisition of Vizsla Royalties, and he looks forward to announcing the closing of the transaction soon.
Shareholders will be able to choose between 0.15 Elemental shares, C$4.13 in cash, or a mix of both per share.
First silver production at Panuco is expected in the second half of 2027. The deposit is believed to be the world's largest undeveloped high-grade primary silver resource.
