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Elemental Royalty Obtains Regulatory Approval to Acquire Vizsla Royalties

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Elemental Royalty (ELE.TO) said Tuesday after trade that Mexico's anti-trust agency has cleared the company's acquisition of Vizsla Royalties (VROY.V).

Elemental will acquire Vizsla Royalties' 2% to 3.5% net smelter returns royalties on Vizsla Silver's (VZLA.TO) Panuco project in Mexico. The royalties will be cornerstone assets in Elemental's portfolio and are life-of-mine interests with no caps, buybacks or step-downs, covering the entire existing resources at Panuco, a statement said.

"Receiving Antitrust approval is the final regulatory milestone needed to complete the acquisition of Vizsla Royalties, and we look forward to announcing the closing of the Transaction soon," said Chief Executive Officer David Cole.

Elemental shares closed down CA$0.46 at CA$28.99 on the Toronto Stock Exchange.

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