On September 14, 2026, Elemental Royalty Corporation completed its acquisition of all of the issued and outstanding common shares of Vizsla Royalties Corp. by way of a court-approved plan of arrangement under the Business Corporations Act (British Columbia). The transaction was first announced on May 14, 2026, following a definitive arrangement agreement dated May 13, 2026. Through the deal, Elemental acquired Vizsla Royalties' 2.0 to 3.5 percent net smelter returns royalties on Vizsla Silver Corp.'s Panuco silver-gold project in Mexico. The Panuco royalties are life-of-mine interests with no caps, buybacks or step-downs and cover the entire existing resources at the project. The transaction received Mexican antitrust clearance from the Comisión Nacional Antimonopolio on September 8, 2026, the final regulatory milestone. Vizsla Royalties shares were expected to be delisted from the TSX Venture Exchange on or about September 16, 2026, and to cease being quoted on the OTCQX, with the company applying to cease to be a reporting issuer thereafter.