Elemental Altus Royalties Corp. entered into a definitive agreement to acquire Non-Core Royalty Portfolio from First Mining Gold Corp. (TSX:FF) for CAD 6.7 million.

Elemental Altus Royalties Corp. (TSXV:ELE) entered into a definitive agreement to acquire Non-Core Royalty Portfolio from First Mining Gold Corp. (TSX:FF) for CAD 6.7 million on February 6, 2023.

As for consideration, Elemental Altus Royalties Corp. paid CAD 6.7 million, comprised of CAD 4.7 million in cash and 1,598,162 common shares of Elemental Altus. First Mining's royalty portfolio sale to Elemental Altus is comprised of 19 royalties across four countries.

The Transaction is subject to customary closing conditions, including the receipt of TSXV listing approval for the common shares of Elemental Altus that are being issued to First Mining under the Transaction, and is expected to close on or before February 14, 2023.