La Mancha Announces Acquisition of Shares of Elemental Royalties Corp.
LONDON, April 01, 2022 (GLOBE NEWSWIRE) — La Mancha Fund SCSp (the “Fund”), a fund advised by La Mancha Capital Advisory LLP (“La Mancha”), is pleased to announce that its wholly-owned subsidiary, La Mancha Investments S.à r.l. (“LMI”), yesterday acquired 7,250,000 common shares (the “Shares”) of Elemental Royalties Corp. (“Elemental”) (TSX-V: ELE, OTCQX: ELEMF) at a subscription price of C$1.51 per Share for an aggregate subscription price of approximately US$8.5 million. The net proceeds of the subscription will be used by Elemental to fund its acquisition of the Ming Gold stream. The Fund owns 7,250,000 common shares of Elemental following completion of the subscription, representing approximately 9.3% of Elemental’s issued and outstanding common shares.
The Fund completed the subscription and acquired the Shares for business and investment purposes. In the future the Fund may, from time to time, increase or decrease its investment in Elemental through market transactions, private agreements, treasury issuances or otherwise at any time.
About La Mancha Fund SCSp
La Mancha Fund SCSp (the “Fund”) is a Luxembourg-based deep value fund advised by La Mancha Capital Advisory LLP dedicated primarily to investments in the precious metals and energy transition metals space. The Fund’s general partner is La Mancha Capital Management GP S.à r.l. which has delegated investment management over the Fund’s investments to Notz, Stucki Europe S.A., which has further delegated the portfolio management of the Fund to G10 Capital Limited.
About La Mancha Capital Advisory LLP
La Mancha Capital Advisory LLP (“La Mancha”) advises on strategic investments made by the Fund in publicly listed and private gold and energy transition commodity companies with a global outlook. La Mancha is a long-term minded investment advisor, with a mandate to support mining companies to achieve sustained growth by providing long-term equity capital as well as operational and board level expertise, to further portfolio company performance and expansion.
La Mancha Capital Advisory LLP is an Appointed Representative of G10 Capital Limited, which is authorised and regulated by the Financial Conduct Authority (FRN 648953).
Further Information
La Mancha Capital Advisory LLP
Vincent Benoit, vincent.benoit@lamancha.com
Karim Nasr, karim.nasr@lamancha.com
