On December 15, 2020, Elemental Royalties Corp. (TSXV:ELE) closed the transaction. The company has raised 10,748,132 subscription receipts for the gross proceeds of CAD 16,122,198.

The transaction included participation from returning investor Deutsche Balaton AG (DB:BBHK) for 4,333,500 subscription receipts, 2,600,000 subscription receipts were acquired directly and 1,733,500 subscription receipts were acquired through returning investor and wholly-owned subsidiary of Deutsche Balaton AG (DB:BBHK), Sparta AG (DB:SPT6). Following the completion of the private placement, Deutsche Balaton AG (DB:BBHK) holds 3,918,989 common shares (2,800,000 held directly and 1,118,989 held indirectly through Sparta AG (DB:SPT6)), and 4,333,500 subscription receipts (2,600,000 held directly and 1,733,500 held indirectly through Sparta AG (DB:SPT6)). Following the conversion of the subscription receipts into common shares, Deutsche Balaton AG (DB:BBHK) will hold an aggregate of 8,252,489 common shares (5,400,000 held directly and 2,852,489 held indirectly through Sparta AG (DB:SPT6)), representing approximately 11.96% of the issued and outstanding common shares of the company, on a non-diluted basis.

Prior to completion of the private placement, Deutsche Balaton AG (DB:BBHK) held an aggregate of 3,918,989 common shares (2,800,000 held directly and 1,118,989 held indirectly through Sparta AG (DB:SPT6)), representing approximately 8.8% of the issued and outstanding common shares of the company, on a non-diluted basis. The transaction included participation from 38 placees. The shares were issued to insiders, 13,400 shares to Frederick Bell, 414,032 shares to John Robins and 13,000 shares to Martin Turenne Consulting Ltd and to professional group in which 348,500 shares were issued to five placees.