SAN SALVADOR, Republic of El Salvador and ABU DHABI, UAE, Oct. 20, 2025 /CNW/ – Tether Investments S.A. de C.V. (the “Acquiror“) announces the acquisition of additional common shares (the “Common Shares“) of Elemental Altus Royalties Corp. (“Elemental“), a gold-focused royalty company listed in Canada from AlphaStream Limited (“AlphaStream“). This announcement is made pursuant to the “early warning” requirements of Canadian securities legislation applicable to both the Acquiror and to AlphaStream with respect to their ownership of Common Shares. The Acquiror and AlphaStream have or will shortly be filing an early warning report in respect of this announcement on Elemental’s SEDAR+ profile at www.sedarplus.ca (the “Early Warning Report“).
On October 17, 2025, the Acquiror exercised an existing option (the “Option“) to acquire, indirectly, in an offshore transaction, an aggregate of 3,444,458 Common Shares from AlphaStream (the “Optioned Shares“). The transaction was effected through the purchase from AlphaStream by Acquiror of all of the outstanding shares of Alpha 1 SPV Limited (“Alpha 1“), the entity that holds the Optioned Shares.
Prior to the indirect acquisition of the Optioned Shares, the Acquiror owned and had control over an aggregate of 9,278,229 Common Shares, representing approximately 37.5% of the issued and outstanding Common Shares. Immediately following the exercise of the Option and the indirect acquisition of the Optioned Shares, the Acquiror owned and controlled an aggregate of 12,722,687 Common Shares, representing approximately 51.4% of the issued and outstanding Common Shares.
Prior to the indirect acquisition of the Optioned Shares, AlphaStream owned and had control over the Optioned Shares, representing approximately 13.9% of the issued and outstanding Common Shares. Immediately following the acquisition of the Optioned Shares, AlphaStream owned and controlled nil Common Shares. Following Acquiror’s exercise of the Option, Alpha 1 will continue to own 3,444,458 Common Shares but will be wholly owned by the Acquiror. The aggregate purchase price paid by the Acquiror, and received by AlphaStream, for the acquisition of Alpha 1 was CAD$53,389,099, representing an indirect price per share of CAD$1.55, based on the number of issued and outstanding Common Shares on a pre-consolidation basis. The indirect acquisition of the Optioned Shares was conducted via private agreement outside of Canada and not through any stock exchange or other securities market.
For more information relating to the Option, please refer to the Acquiror’s press releases issued June 10 and 17, 2025 and its related early warning reports dated the same dates, and AlphaStream’s press release issued June 10, 2025 and its related early warning report dated the same date, each filed on Elemental’s SEDAR+ profile at www.sedarplus.com,
The Acquiror acquired the Optioned Shares for investment purposes. Depending on market conditions, general economic and industry conditions, Elemental’s business and financial condition and/or other relevant factors, the Acquiror may, from time to time, acquire additional Common Shares or other securities of Elemental through market transactions, private agreements, treasury issuances or otherwise, or disposing of all or some of its Common Shares. The Acquiror intends to engage with management of Elemental and may develop plans or intentions in the future with respect to other of the matters listed in clauses (a) through (k) of Item 5 of its Early Warning Report as it deems appropriate from time to time, including without limitation, seeking board representation, or making proposals to Elemental concerning changes to its capitalization, ownership structure or operations.
The indirect acquisition of the Optioned Shares occurred in a transaction outside of Canada to which take-over bid requirements of Canadian securities laws do not apply.
The head office of Elemental is located at Suite 1020 – 800 West Pender St., Vancouver, British Columbia V6C 2V6.
About Tether Investments
Tether Investments is a corporation existing under the laws of the Republic of El Salvador and is an affiliate of the Tether group of companies. Tether Investments is focused on strategic investments that complement its vision for open financial systems supported by digital and real-world assets.
The head office address of Tether Investments is Final Av. La Revolucion, Colonia San Benito, Edif. Centro, Corporativo, Presidente Plaza, Nivel 12, Oficina 2, Distrito de San Salvador, Municipality of San Salvador Centro, Republic of El Salvador.
For further information, please contact:
Name: Stephenie Vasko, Communications and PR Services VP, Tether
Telephone number: +1 604 691 6105
Email: press@tether.to
The Acquiror will send a copy of its Early Warning Report relating to this announcement promptly to any person requesting it.
About AlphaStream Limited
AlphaStream Limited is a private company limited by shares established under the laws of the ADGM and is an affiliate of the AlphaStream group of companies. AlphaStream Limited is focused on royalty and streaming through alternative debt and equity financing for mining companies.
The head office address of AlphaStream Limited is Suite 605, Al Sarab Tower, ADGM Square, Al Maryah Island, Abu Dhabi, UAE.
For further information, please contact:
Name: Kym Zelinski, Blake, Cassels & Graydon LLP
Telephone number: +1-416-863-2630
AlphaStream Limited will send a copy of its Early Warning Report relating to this announcement promptly to any person requesting it.
SOURCE Tether Investments S.A. de C.V.
