Versamet Royalties announces $125 million bought deal
Versamet Royalties Corp. [VMET-TSX] has announced a $125 million bought deal financing and concurrent private placement.
Versamet is an emerging mid-tier precious metals royalty and streaming company which has made $400 million in acquisitions since it was launched in June, 2022.
The company said a syndicate of underwriters has agreed to purchase on a bought deal basis, 9.1 million shares at $13.75 per shares. The underwriters have also been granted an option to purchase an additional 15% of the offering to cover over-allotments. That option can be exercised for 30 days after closing, which is expected to occur on February 9, 2026.
Meanwhile, the company said it intends to complete a non-brokered private placement whereby existing investors such as Tether Investments S.A. de C.V., who have contractual participation rights, are expected to participate.
On Friday, Versamet shares were down 3.5% or 49 cents to $13.21. The shares trade in a 52-week range of $16.65 and $4.50.
Back in November, 2025, Versamet welcomed Tether Investments and the Lundin Family Trusts as new cornerstone shareholders. It said Tether and the Lundins each acquired 11.8 million common shares representing approximately 12.7% of the company’s issued and outstanding shares. Tether and the Lundins acted independently in their respective acquisitions.
The above share positions were acquired through the purchase of Royal Gold Inc.’s [RGLD-NASDAQ] entire holding of 23.65 million common shares. Of that amount 21.2 million were transferred within, and remain subject to, an escrow agreement previously disclosed in the company’s May 12, 2025 long-form prospectus. Royal Gold had originally acquired the shares through its acquisition of Sandstorm Gold in October, 2025.
“We are excited to be partnering with Tether and the Lundin family as cornerstone shareholders,’’ said Versamet CEO Dan O’Flaherty. “Their combination of deep financial strength, proven strategic capabilities, and commitment to the royalty and streaming model makes them powerful partners for Versamet’s next phase of growth.’’
Versamet earlier reported record operating and financial results for the third quarter ended September 30, 2025. Results for the quarter included record revenue of $8.1 million, marking an increase of 155% over the equivalent 2024 quarter. The company also reported record attributable gold equivalent ounces (GEOs) of 2,699, an increase of 110% over the the third quarter of 2024. “The addition of these expanding cash-flow assets has a significant impact to Versamet’s GEOs, both now and in the years ahead, accelerating the company’s growth in becoming a new mid-tier precious metal royalty and streaming company,” said O’Flaherty.
Other third quarter highlights included the acquisition of a significant silver stream on the operating Rosh Pinah Zinc mine in Namibia and a polymetallic royalty on the operating Santa Rita mine in Brazil, both operated by Appian Capital Advisory Ltd.
Versamet said it was on track to meet increased guidance of approximately 10,000 GEOs, growing to approximately 20,000 GEOs in 2026.
Resource World Magazine Inc. has prepared this editorial for general information purposes only and should not be considered a solicitation to buy or sell securities in the companies discussed herein. The information provided has been derived from sources believed to be reliable but cannot be guaranteed. This editorial does not take into account the readers investment criteria, investment expertise, financial condition, or financial goals of individual recipients and other concerns such as jurisdictional and/or legal restrictions that may exist for certain persons. Recipients should rely on their own due diligence and seek their own professional advice before investing.