On June 10, 2020, Elemental Royalties Limited completed a brokered private placement offering of subscription receipts for combined aggregate gross proceeds of approximately $24 million in connection with the proposed reverse takeover of Fengro Industries Corp. by Elemental. The offering was led by a syndicate of agents including Canaccord Genuity Corp., as lead agent, together with Haywood Securities Inc. and Sprott Capital Partners LP.
Cassels acted for the agents with a deal team that included Chad Accursi, James Lyle and Michael Britton (Securities and Mining) and Lauren Grossman (Banking & Specialty Finance).