Versamet Royalties Corp.

Versamet Royalties Corp. is a junior gold royalty and streaming company headquartered in Vancouver, Canada, operating primarily in Canada. Key assets include Greenstone, Mercedes, Kiaka, and Toega. The organization's business model centers on acquiring and managing royalties, streams, and other similar interests, providing a non-dilutive financing alternative to metals and mining companies. This high-margin, scalable approach is designed to offer investors commodity price exposure and upside from mine life extensions, expansions, and exploration success, while mitigating the downside risks associated with operating, exploration, and development cost inflation. As a royalty and streaming entity, the company holds a diversified portfolio of exposures to multiple operations and counterparties without direct involvement in mine management. This structure eliminates direct exposure to operating costs, sustaining capital expenditures, and the operational risks inherent in traditional mining. The model relies on payments calculated as a percentage of gross revenue or net proceeds from commodity sales, or through the right to purchase a predetermined percentage of future production at a fixed, below-market price in exchange for an upfront payment. This strategy provides capital to operators with structural flexibility and partner-like alignment, leveraging the company's sector experience and expertise.

The company's competitive strategy focuses on 5 key elements: robust access to capital, a versatile investment mandate, prioritizing asset quality over quantity, achieving growth at pace, and leveraging strong relationships. A primary focus is on internal free cash flow generation combined with access to multiple other capital sources, enabling the pursuit of accretive, countercyclical investments throughout the full business cycle. The investment mandate prioritizes generating strong risk-adjusted returns and diversification benefits over adherence to a strict commodity mix, employing flexible and creative deal structuring. A strong emphasis is placed on investing in high-quality mines and projects with capable operators and credible paths to production, balancing this with prudent investments in earlier-stage opportunities to maintain a robust development pipeline. The organization measures its performance on a per-share basis, aiming to protect and create shareholder value by focusing on acquisitions of significant scale, maintaining a lean cost structure, and limiting shareholder dilution. Growth is further supported by strong relationships with key corporate shareholders, which provide a valuable source of deal flow, technical expertise, and potential partnership opportunities.

Executive leadership features a Chief Executive Officer with 20 years of investment banking and executive experience, who previously co-founded and led Maverix Metals Inc. until its sale in 2022. The Non-Executive Chair of the Board is the President and Chief Executive Officer of Equinox and a Canadian Chartered Professional Accountant. The Chief Financial Officer possesses over 20 years of financial experience, including roles at 2 mid-tier mining companies and 8 years with PricewaterhouseCoopers. The Board of Directors consists of 4 members, with 1 director determined to be independent. Board oversight is structured through 3 committees: the Compensation Committee, the Environmental, Social, Governance and Nominating Committee, and the Audit Committee. The Audit Committee is initially composed of 3 directors, 1 of whom is independent. The governance framework is supported by formal, adopted mandates for the Board, the Chair, and the Chief Executive Officer, as well as a Global Code of Ethical Conduct. Management and the Board demonstrate alignment with shareholders through meaningful share ownership and consistent investment in previous financing rounds.

The company was formed on January 31, 2022, through an amalgamation of Rosedale Resources Ltd. and Lunde International Corp. As of the prospectus date, the organization has no subsidiaries. Corporate development has been driven by several key transactions, including the acquisition of royalty portfolios from Sandstorm Gold Ltd. and Equinox in June 2022. In late 2023, the entity acquired 2 additional royalties from Sandstorm. During 2024, the company acquired a significant royalty portfolio from B2Gold Corp. in a transaction that closed in 2 tranches. On April 1, 2025, the organization entered into a purchase agreement with a subsidiary of Endeavour Silver Corp., contingent on Endeavour's pending acquisition of a mine. Major shareholders with beneficial ownership exceeding 10% include B2Gold, Sandstorm, and Equinox. The company maintains investor rights agreements with these key shareholders, as well as with Regal Funds Management Pty Limited and Beedie Capital, which grant certain rights such as board nominations and participation in future financings.