Tether Investments Updates Early Warning Report

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SAN SALVADOR, Republic of El Salvador, Sept. 18, 2025 /CNW/ -Tether Investments S.A. de C.V. (the "Company") confirms that as previously announced, it has entered into a subscription agreement (the "Subscription Agreement") with Elemental Altus Royalties Corp. ("Elemental"), a gold-focused royalty company listed in Canada. This announcement is made pursuant to the "early warning" requirements of Canadian securities legislation. The Company has filed an early warning report in respect of this announcement on Elemental's SEDAR+ profile at www.sedarplus.ca (the "Early Warning Report").

Pursuant to the Subscription Agreement, the Company agreed to purchase 7,502,502 Common Shares of Elemental ("Purchased Shares") at a price of C$18.38 per share for aggregate gross proceeds of approximately US$100 million (the "Financing"). The Financing is being completed concurrently with the closing of Elemental's acquisition of all the issued and outstanding common shares of EMX Royalty Corporation pursuant to a court-approved plan of arrangement (the "Transaction").

The Transaction and the Financing are expected to close in the fourth quarter of 2025, subject to customary closing conditions including TSX Venture Exchange approval.

Immediately prior to entering into the Subscription Agreement, the Company owned and controlled an aggregate of 9,278,229 Common Shares, representing approximately 37.6% of the issued and outstanding Common Shares. Immediately after entering into the Subscription Agreement, assuming the purchase of Purchased Shares pursuant to the Subscription Agreement and the Transaction are both completed, the Company would own and control an aggregate of 16,780,731 Common Shares, representing approximately 25.2% of the issued and outstanding Common Shares.

The Company remains a party to an option agreement dated June 10, 2025 (the "Option Agreement") pursuant to which the Company has the option to acquire (but not the obligation to acquire), in an offshore transaction, and subject to certain terms and conditions, an aggregate of 3,344,458 Common Shares (based on the consolidation of shares effective September 16, 2025) from a third party (the "Option Shares"). The option has not been exercised and may not be exercised prior to October 29, 2025 without the consent of Elemental.

For more information relating to the Option Agreement, please refer to the Company's press release issued June 10, 2025 and its related early warning report dated the same date and filed on Elemental's SEDAR+ profile at www.sedarplus.com.

If the Company acquires the Purchased Shares and the Option Shares (assuming no intervening Common Shares are acquired by the Company or issued by Elemental), the Company would own approximately 30.4% of Elemental after the completion of the Transaction.

The Company entered into the Subscription Agreement to acquire the Purchased 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 Company may, from time to time, acquire additional Common Shares or other securities of Elemental (including the Option Shares) through market transactions, private agreements, treasury issuances or otherwise, or dispose of all or some of its Common Shares. The Company 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, including without limitation, making proposals to Elemental concerning changes to its capitalization, ownership structure or operations.

The head office of Elemental is Suite 1020 – 800 West Pender Vancouver, British Columbia V6C 2V6, Canada.

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.

The Company 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.