Tether Investments, the investment branch of Tether, has acquired approximately 31.9% of the shares of the Canadian precious metals company, Elemental Altus Royalties Corp., for a value of about 89.2 million U.S. dollars. This transaction was completed on June 10, granting Tether 78.4 million common shares at a price of 1.55 Canadian dollars per share.
Elemental operates on a rights and streaming model, providing financing to mining companies in exchange for future revenue rights, helping to mitigate mining risks.
Tether currently holds a total of approximately 33.7% of Elemental's shares and plans to acquire an additional 34.4 million shares, raising its ownership to 47.7%. Tether's CEO, Paolo Ardoino, stated that this move reflects the vision of building a sustainable financial system, supported by tangible assets.
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Tether bought a 32% stake in the Canadian gold company Elemental for $89 million
Tether Investments, the investment branch of Tether, has acquired approximately 31.9% of the shares of the Canadian precious metals company, Elemental Altus Royalties Corp., for a value of about 89.2 million U.S. dollars. This transaction was completed on June 10, granting Tether 78.4 million common shares at a price of 1.55 Canadian dollars per share.
Elemental operates on a rights and streaming model, providing financing to mining companies in exchange for future revenue rights, helping to mitigate mining risks.
Tether currently holds a total of approximately 33.7% of Elemental's shares and plans to acquire an additional 34.4 million shares, raising its ownership to 47.7%. Tether's CEO, Paolo Ardoino, stated that this move reflects the vision of building a sustainable financial system, supported by tangible assets.