Elemental Royalty to Buy Orion Precious Metals Portfolio for $290 Million; CEO Resigns

05:00 PM EDT, 09/21/2026 (MT Newswires) -- Elemental Royalty (ELE.TO, ELE), up 1.2% in after-hours US trading, said Monday it entered into agreements to acquire a portfolio of five precious metals streams and royalties from funds managed by Orion Mine Finance Management for $290 million. The purchase price includes $200 million in cash and $90 million in equity, the company said. Separately, the company entered into a non-binding agreement with Carlin East to sell its Generation Business, which includes wholly owned exploration projects. Under the proposed transaction, Carlin East would also assume management and shared ownership of Elemental's option agreements and certain early-stage exploration royalties associated with the Generation Business. In return, Elemental would receive a cornerstone equity stake in Carlin East. Elemental also said chief executive David Cole resigned effective immediately to take a leadership role at Carlin East. Frederick Bell, currently Elemental's chief operating officer, was appointed chief executive officer and director. ELE's shares were up $0.27 to $21.99 at last look in after-hours US trading after closing up CA$0.66 to CA$30.45 on Toronto Stock Exchange