Tether group reports 31.6% Elemental Royalty (ELE) stake after internal share transfer

Rhea-AI Filing Summary

Tether-affiliated entities updated their ownership disclosure in Elemental Royalty Corporation. The reporting group, including Tether Global Investments Fund, Tether International, Tether Investments and Giancarlo Devasini, continues to beneficially own 20,354,627 common shares, representing 31.6% of Elemental’s outstanding common shares based on 64,383,030 shares outstanding as of May 11, 2026.

Effective June 30, 2026, Tether Investments transferred 3,444,458 common shares to Tether International. This was an internal transfer between related entities and did not change the group’s aggregate beneficial ownership percentage or total share count.

Key Figures

Beneficial ownership: 20,354,627 common shares Ownership percentage: 31.6% Shares outstanding: 64,383,030 common shares +3 more

6 metrics

Beneficial ownership 20,354,627 common shares Aggregate shares beneficially owned by reporting persons

Ownership percentage 31.6% Portion of Elemental Royalty common shares beneficially owned

Shares outstanding 64,383,030 common shares Elemental Royalty shares outstanding as of May 11, 2026

Tether International holdings 12,852,125 common shares Common shares beneficially owned with shared voting and dispositive power

Tether Investments holdings 7,502,502 common shares Common shares beneficially owned with shared voting and dispositive power

Internal share transfer 3,444,458 common shares Transferred from Tether Investments to Tether International on June 30, 2026

Key Terms

beneficially own, shared voting and dispositive power, Schedule 13D, pecuniary interest, +1 more

5 terms

beneficially own financial

"The Reporting Persons beneficially own an aggregate of 20,354,627 Common Shares representing 31.6% of the outstanding Common Shares."

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

shared voting and dispositive power financial

"Tether Global Investments Fund, S.I.C.A.F., S.A. and Giancarlo Devasini each have shared voting and dispositive power with respect to 20,354,627 Common Shares."

Schedule 13D regulatory

"This statement on amends the of Tether Global Investments Fund... that was originally filed... on March 26, 2026 (as amended, the "")"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

pecuniary interest financial

"The reporting person disclaims beneficial ownership of these shares except to the extent of the reporting person's pecuniary interest."

joint statement per Rule 13d-1(k) regulatory

"99.1 Agreement of filing persons relating to filing of joint statement per Rule 13d-1(k)"

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Available on EDGAR 07/02/2026 - 09:55 AM Accepted by SEC EDGAR 07/02/2026 - 09:54 AM Learn about SEC filing dates

FAQ

How many Elemental Royalty (ELE) shares do the Tether entities report owning?

The Tether-related reporting group beneficially owns 20,354,627 common shares of Elemental Royalty. This represents a large block and reflects combined holdings across Tether Global Investments Fund, Tether International, Tether Investments and their controlling person.

What percentage of Elemental Royalty (ELE) is owned by the Tether group?

The reporting persons state they beneficially own 31.6% of Elemental Royalty’s common shares. This percentage is based on 64,383,030 shares outstanding as of May 11, 2026, as disclosed in Elemental’s Management’s Discussion & Analysis.

What ownership change is disclosed in this Schedule 13D/A for ELE?

The filing reports that on June 30, 2026, Tether Investments transferred 3,444,458 common shares to Tether International. The filers state this internal transfer caused no change in the group’s aggregate beneficial ownership of Elemental Royalty.

How are Elemental Royalty (ELE) shares split between Tether International and Tether Investments?

After the internal transfer, Tether International holds 12,852,125 common shares and Tether Investments holds 7,502,502 common shares. Both entities are controlled subsidiaries of Tether Global Investments Fund and share voting and dispositive power as described.

What voting and dispositive power does the Tether group report over ELE shares?

Tether Global Investments Fund and Giancarlo Devasini report shared voting and dispositive power over 20,354,627 common shares. Tether International has shared power over 12,852,125 shares, and Tether Investments has shared power over 7,502,502 shares.

Did the Tether reporting group trade additional Elemental Royalty (ELE) shares recently?

The filers state that, except for the June 30, 2026 internal transfer, there were no other transactions in Elemental Royalty common shares by the reporting persons during the last 60 days. The amendment mainly updates ownership structure details.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

Elemental Royalty Corporation

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

28620K106

(CUSIP Number)

Tether Global Investments Fund
Final Av. La Revolucion, Edif. Centro,, Corporativo Presidente Plaza, Nivel 12
San Salvador, H3, 00000
4420 4621 1793

Daniel Woodard
McDermott Will & Schulte LLP, One Vanderbilt Avenue
New York, NY, 10017
(212) 547-5400

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/30/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 28620K106

1

Name of reporting person

Tether Global Investments Fund, S.I.C.A.F., S.A.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

EL SALVADOR

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 20,354,627.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 20,354,627.00

11

Aggregate amount beneficially owned by each reporting person

20,354,627.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

31.6 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

Note in relation to Items 8, 10 and 11: Includes 12,852,125 common shares, no par value ("Common Shares") of Elemental Royalty Corporation held by Tether International, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A and 7,502,502 Common Shares of held by Tether Investments, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A. Note in relation to Item 13: This percentage is calculated based upon 64,383,030 Common Shares outstanding on May 11, 2026, as reported in the Issuer's Management's Discussion & Analysis included as an exhibit to its Form 6-K filed with the Securities and Exchange Commission on May 13, 2026.

SCHEDULE 13D

CUSIP Number(s): 28620K106

1

Name of reporting person

Tether International, S.A. de C.V.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

EL SALVADOR

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 12,852,125.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 12,852,125.00

11

Aggregate amount beneficially owned by each reporting person

12,852,125.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

20.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Note in relation to Item 13: This percentage is calculated based upon 64,383,030 Common Shares outstanding on May 11, 2026, as reported in the Issuer's Management's Discussion & Analysis included as an exhibit to its Form 6-K filed with the Securities and Exchange Commission on May 13, 2026.

SCHEDULE 13D

CUSIP Number(s): 28620K106

1

Name of reporting person

Tether Investments, S.A. de C.V.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

EL SALVADOR

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 7,502,502.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 7,502,502.00

11

Aggregate amount beneficially owned by each reporting person

7,502,502.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

11.7 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Note in relation to Item 13: This percentage is calculated based upon 64,383,030 Common Shares outstanding on May 11, 2026, as reported in the Issuer's Management's Discussion & Analysis included as an exhibit to its Form 6-K filed with the Securities and Exchange Commission on May 13, 2026.

SCHEDULE 13D

CUSIP Number(s): 28620K106

1

Name of reporting person

Giancarlo Devasini

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

ITALY

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 20,354,627.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 20,354,627.00

11

Aggregate amount beneficially owned by each reporting person

20,354,627.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

31.6 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

Note in relation to Items 8, 10 and 11: Includes 12,852,125 Common Shares held by Tether International, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A. and 7,502,502 Common Shares of held by Tether Investments, S.A. de C.V., a controlled subsidiary of Tether Global Investments Fund, S.I.C.A.F., S.A. Mr. Devasini has a greater than 50% voting interest in Tether Global Investments Fund, S.I.C.A.F., S.A. The reporting person disclaims beneficial ownership of these shares except to the extent of the reporting person's pecuniary interest. Note in relation to Item 13: This percentage is calculated based upon 64,383,030 Common Shares outstanding on May 11, 2026, as reported in the Issuer's Management's Discussion & Analysis included as an exhibit to its Form 6-K filed with the Securities and Exchange Commission on May 13, 2026.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Shares, no par value
(b)	Name of Issuer: Elemental Royalty Corporation
(c)	Address of Issuer's Principal Executive Offices: 10001 W. Titan Road, Littleton, COLORADO , 80125.
Item 1 Comment: This statement on Schedule 13D amends the Schedule 13D of Tether Global Investments Fund, S.I.C.A.F., S.A., an El Salvador entity, Tether Investments, S.A. de C.V., an El Salvador entity ("Tether Investments"), Tether International, S.A. de C.V., an El Salvador entity, and Giancarlo Devasini (collectively, the "Reporting Persons") that was originally filed with the Securities and Exchange Commission (the "SEC") on March 26, 2026 (as amended, the "Schedule 13D") with respect to the Common Shares, no par value ("Common Shares") of Elemental Royalty Corporation, a corporation incorporated in British Columbia, Canada (the "Issuer"). This amendment to the Schedule 13D is being filed by the Reporting Persons and constitutes Amendment No. 1 to the Schedule 13D. Capitalized terms used but not defined herein have the meanings given to such terms in the Schedule 13D. Except as set forth herein, the Schedule 13D is unmodified.
Item 4.	Purpose of Transaction
	Item 4 is hereby amended and supplemented to add the following: Effective on June 30, 2026, Tether Investments transferred 3,444,458 Common Shares to Tether International, S.A. de C.V. (the "Transfer"). The Transfer resulted in no change in the aggregate number of Common Shares beneficially owned by the Reporting Persons.
Item 5.	Interest in Securities of the Issuer
(a)	The Reporting Persons beneficially own an aggregate of 20,354,627 Common Shares representing 31.6% of the outstanding Common Shares. This percentage is calculated based upon 64,383,030 Common Shares outstanding on May 11, 2026, as reported in the Issuer's Management's Discussion & Analysis included as an exhibit to its Form 6-K filed with the Securities and Exchange Commission on May 13, 2026.
(b)	Tether Global Investments Fund, S.I.C.A.F., S.A. and Giancarlo Devasini each have shared voting and dispositive power with respect to 20,354,627 Common Shares. Tether International, S.A. de C.V. has shared voting and dispositive power with respect to 12,852,125 Common Shares. Tether Investments has shared voting and dispositive power with respect to 7,502,502 Common Shares.
(c)	Except for the Transfer, no transactions in the Common Shares were effected by the Reporting Persons in the last 60 days.
(d)	None.
(e)	Not applicable.
Item 7.	Material to be Filed as Exhibits.
	Schedule A Executive Officers and Directors 99.1 Agreement of filing persons relating to filing of joint statement per Rule 13d-1(k)

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Tether Global Investments Fund, S.I.C.A.F., S.A.

Signature:	/s/ Omar Rossi
Name/Title:	Omar Rossi, Sole Administrator
Date:	07/02/2026

Tether International, S.A. de C.V.

Signature:	/s/ Giancarlo Devasini
Name/Title:	Giancarlo Devasini, Sole Administrator
Date:	07/02/2026

Tether Investments, S.A. de C.V.

Signature:	/s/ Giancarlo Devasini
Name/Title:	Giancarlo Devasini, Sole Administrator
Date:	07/02/2026

Giancarlo Devasini

Signature:	/s/ Giancarlo Devasini
Name/Title:	Giancarlo Devasini, individually
Date:	07/02/2026