Voyageur Mineral Explorers Corp. and Evolve Strategic Element Royalties Inc. plan to combine their businesses, with Evolve raising approximately $20 million through a private placement of subscription receipts. Existing shareholders, management, and affiliates of Evolve are set to subscribe for up to $9 million of the private placement. The offering will be conducted by Canaccord Genuity Corp. and Stifel Nicolaus Canada Inc. on a “best efforts” private placement basis, with an option for additional subscription receipts to be sold. The net proceeds will be used for new growth investments, working capital, and general corporate purposes.

Read more at GlobeNewswire: Voyageur Mineral Explorers Corp. and Evolve Strategic