The issue of the largest stablecoin per market capitalization has just acquired considerable interests with a gold -oriented royalty company mentioned in Canada.
In a statement, Elemental Altus says that Tether has just completed the purchase of 78,421,780 ordinary shares for a price of C $ 1.55, or approximately $ 1.14 per share, for a total of C $ 125,553,759 or approximately $ 89 million.
The acquisition represents approximately 31.9% of the issued and outstanding ordinary shares of the precious metals of the precious metals.
Tether already owns 4,360,511 shares in Elemental Altus, which brings the total ordinary shares of the USDT emittent to 82,782,291. This represents approximately 33.7% of the issued and outstanding shares of the Canadian company.
Elemental Altus CEO and director Frederick Bell out Tether is now one of the leading investors of the company.
“Building on earlier discussions with Tether, we are very pleased to officially welcome Tether as the new large shareholder of the company. Their unparalleled ability to support the company in the next phase of growth is exciting for all shareholders and is a positive for the Gold Royalty Sector.”
In a separate explanation, Tether CEO Paolo Ardoino out The investment reflects the trust of the company in gold and its role in financial markets.
“The royalty model of Elemental offers diversified exposure to gold production around the world, strategically in accordance with our vision of tether gold and future digital asset infrastructure supported by the raw material.”
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Featured image: Shutterstock/Cosmoman
