The TSX Venture Exchange has accepted for filing documentation in connection with the arrangement between Vizsla Royalties Corp. and Elemental Royalty Corp., pursuant to the terms of an arrangement agreement dated May 13, 2026, and a court-approved plan of arrangement under Part 9, Division 5, of the Business Corporations Act (British Columbia).

Pursuant to the terms of the arrangement, Elemental acquired all of the issued and outstanding common shares of Vizsla Royalties. Holders of Vizsla Royalties shares were entitled to elect to receive, for each Vizsla Royalties share, $4.13 in cash, 0.15 of a common share of Elemental, or a combination of $1.03 in cash and 0.1125 of an Elemental share, subject to rounding and proration based on a maximum aggregate cash consideration of approximately $82-million.

Outstanding Vizsla Royalties options to purchase Vizsla Royalties shares immediately and unconditionally vested and remain outstanding in accordance with their terms. Upon exercise, each option will entitle the holder to receive a number of Elemental shares equal to the number of Vizsla Royalties shares underlying the option multiplied by the exchange ratio of 0.15. The exercise price of each option will equal the exercise price of the corresponding option divided by the exchange ratio of 0.15.

Outstanding Vizsla Royalties performance share units and Vizsla Royalties restricted share units immediately and unconditionally vested and were settled for Vizsla Royalties shares. These resulting Vizsla Royalties shares were then exchanged for Elemental shares pursuant to the arrangement. Outstanding Vizsla Royalties deferred share units (DSUs) immediately and unconditionally vested and were transferred to Vizsla Royalties in exchange for a cash payment of $4.13 per DSU.

The exchange has been advised that approval of the arrangement by shareholders of Vizsla Royalties was received at a special meeting of shareholders held on July 10, 2026. The Supreme Court of British Columbia provided its final order approving the plan of arrangement on July 14, 2026. The exchange has been advised that the arrangement closed on Sept. 14, 2026. The full particulars of the arrangement are set forth in Vizsla Royalties' management information circular dated June 9, 2026, which is available under Vizsla Royalties' profile on SEDAR+.

Delisting

Further to the completion of the arrangement, effective at the close of business on Wednesday, Sept. 16, 2026, the common shares of Vizsla Royalties will be delisted from the TSX Venture Exchange at the request of Vizsla Royalties.