Gleason & Sons Increases Its Holdings in Elemental Altus Royalties After Tether's Investment, Expanded Revenues
Gleason & Sons LLC today announced today it has acquired nearly one million common shares of Elemental Altus Royalties Corp. ("Elemental Altus" or "the Company") (TSXV:ELE) (OTCQX:ELEMF) via ongoing open market purchases. "We are pleased to be increasing our long-term investment in Elemental Altus as its management team transitions the Company into an exciting new growth phase - having paid off all debt, booked its most profitable quarter ever, and streamlined its governance structure," said Stefan Gleason, managing director of Gleason & Sons.
"Elemental Altus is now 'locked and loaded' with an unused $50 million credit facility, more than $20 million in cash, and a new, deep-pocketed major shareholder in Tether Investments that understands the importance of accumulating hard assets.
"The Company's prior investments have created an expansion of payable ounces, revenues, and net income at the most opportune time, given the ongoing rally in gold prices.
"We believe Elemental Altus remains significantly undervalued and is well positioned not only to acquire additional royalties but also, potentially, to serve as a catalyst for consolidation in the mining royalty space." Gleason concluded.
Gleason & Sons is the family office of Stefan Gleason, a Charlotte-based entrepreneur who owns several privately held businesses in the United States, including Money Metals Exchange LLC. Money Metals is one of the largest precious metals dealers and depositories in North America with nearly one million customers and over C$1 billion in annual revenues.
Gleason & Sons specifically targets equity and debt investments in mining royalty companies. Historically lower risk than direct investments in miners and explorers, the royalty model appears ideally positioned for an inflationary environment. Metals prices tend to rise, yet the royalty holder is insulated from the downside of higher operating, exploration, and capital costs at the underlying mines as well as other risks.
Stefan Gleason
Gleason & Sons LLC
Tel: 208-577-2230
www.GleasonSons.com
This release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address anticipated future events are forward-looking statements. Although the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements.
SOURCE: Gleason & Sons LLC
