Fengro Industries Corp. (‘Fengro’ or ‘the Company’) further to its new releases of November 5, 2019 and April 30, 2020, the Company provided an update to its proposed transaction with Elemental Royalties Limited ("Elemental") to be completed pursuant to a business combination agreement dated April 27, 2020 resulting in the reverse takeover of Fengro by Elemental. Following the completion of the Transaction, Fengro (‘Resulting Issuer’) will carry on the business of Elemental, being the acquisition of royalties over mining projects, under the name "Elemental Royalties". Subject to applicable TSXV approval, on completion of the Transaction the executive management team and the board of directors of the Resulting Issuer will be comprised: Frederick Bell - Chief Executive Officer. Frederick co-founded Elemental in 2016 following his role as Managing Director of Goldcrest Resources plc, where he assembled a portfolio of gold licences in northeast Ghana to take to the AIM. He has wide experience in the mining industry, including as General Manager of Resource Star Limited.