Versamet Royalties Raises C$22 Million from Tether to Fuel Growth and Deleveraging

The latest announcement is out from Versamet Royalties Corp. ( (TSE:VMET) ).

Versamet Royalties Corporation has closed a C$22 million non-brokered private placement with Tether Investments, issuing 1,575,712 common shares at C$13.75 per share under Tether’s participation rights. Following this financing and a recently completed bought deal offering, Versamet now has 105,535,324 common shares outstanding, with Tether holding about 12.7% of the company.

The company plans to use the net proceeds from the private placement to repay debt, fund future acquisitions and support general corporate purposes, bolstering its balance sheet and growth capacity in the precious metals royalty and streaming sector. The increased ownership by Tether underscores ongoing institutional support and may strengthen Versamet’s financial flexibility as it pursues additional royalty and streaming opportunities.

The most recent analyst rating on (TSE:VMET) stock is a Buy with a C$17.00 price target. To see the full list of analyst forecasts on Versamet Royalties Corp. stock, see the TSE:VMET Stock Forecast page.

More about Versamet Royalties Corp.

Versamet Royalties Corporation is an emerging mid-tier precious metals royalty and streaming company focused on building long-term per-share value through the acquisition of high-quality assets. The company’s common shares trade on the Toronto Stock Exchange under the symbol VMET, and it targets growth in the precious metals royalty and streaming market.

Average Trading Volume: 53,918

Technical Sentiment Signal: Strong Buy

Current Market Cap: C$481.6M

Learn more about VMET stock on TipRanks’ Stock Analysis page.