TORONTO, Sept. 16, 2025 (GLOBE NEWSWIRE) -- Voyageur Mineral Explorers Corp. (CSE:VOY) ("Voyageur" or the "Company") and Evolve Strategic Element Royalties Inc. ("Evolve") are pleased to announce that, further to their press release on September 3, 2025, due to strong investor demand, Evolve's previously announced brokered "best efforts" private placement of subscription receipts ("Subscription Receipts") has been increased to gross proceeds of approximately $37.5 million (the "Evolve Offering"), up from approximately $20.0 million.
The Evolve Offering is being conducted by a syndicate of agents (collectively, the "Agents") led by Canaccord Genuity Corp. and Stifel Nicolaus Canada Inc., as co-lead agents. In view of the upsizing of the Evolve Offering, Evolve and the Agents have agreed to amend the Agents' engagement letter to remove the Agents' option to sell up to such number of additional Subscription Receipts equal to 15% of the Evolve Offering.
The net proceeds of the Offering are intended to be used to fund new growth investments and for working capital and general corporate purposes of the issuer (the "Resulting Issuer") resulting from the proposed business combination of Voyageur and Evolve (the "Business Combination").
The completion of the foregoing transactions is subject to a number of closing conditions, including shareholder approval in certain circumstances and the receipt of the conditional approval of the Canadian Securities Exchange.
In support of the Evolve Offering, Voyageur has agreed to increase the break fee by $262,500 if its board of directors changes its recommendation. Also, Northfield Capital Corp., Voyageur's largest shareholder, has agreed to certain amendments to its voting support agreement (the "VSA Amendment Agreement") such that, among other things, it will not be permitted to terminate its VSA Amendment Agreement in the context of a superior proposal on Voyageur unless such superior proposal meets certain value thresholds, as set forth in the VSA Amendment Agreement. A copy of the VSA Amendment Agreement will be filed under Voyageur's SEDAR+ profile.
ABOUT EVOLVE STRATEGIC ELEMENT ROYALTIES LTD.
Evolve is a private company existing under the Business Corporations Act (British Columbia) and is a strategic metals royalty company that strives to be one of the first to apply the royalty and streaming ...
