Tether, the issuer of the largest stablecoin by market cap, has made a significant investment in a gold-focused royalty company listed in Canada. Elemental Altus recently announced that Tether has acquired 78,421,780 common shares at a price of C$1.55 per share, totaling C$125,553,759 (approximately $89 million).
This acquisition represents about 31.9% of Elemental Altus’s issued and outstanding common shares. Tether already owned 4,360,511 shares in the company, bringing their total holdings to 82,782,291 shares, or approximately 33.7% of the Canadian firm’s shares.
Elemental Altus CEO and director, Frederick Bell, expressed his excitement about Tether becoming one of the company’s leading investors. He stated, “Building on previous discussions with Tether, we are very pleased to officially welcome Tether as the Company’s new major shareholder. Their unmatched ability to support the company in its next phase of growth is exciting for all shareholders and is a positive for the gold royalty sector.”
Tether CEO Paolo Ardoino also commented on the investment, emphasizing the company’s confidence in gold and its importance in financial markets. He said, “Elemental’s royalty model provides diversified exposure to gold production around the world, aligning strategically with our vision for Tether Gold and future commodity-backed digital asset infrastructure.”
This strategic investment by Tether showcases their commitment to the gold sector and their belief in the potential of Elemental Altus. It also highlights the growing intersection between traditional finance and digital assets.
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