Electric Royalti - ELECF STOCK NEWS

Electric Royalties (ELECF) provided updates on several key assets following its recent C$2.5 million equity financing. The company now holds 41 royalties plus 29 optioned properties across nine clean energy metals.

Key developments include:

• At Punitaqui Copper Mine (0.75% royalty), drilling results showed significant copper grades, with highlights including 19.8m at 2.3% copper
• Graphite Bull Project (0.75% royalty) reported good grade intersections with resource update expected February 2025
• Mont Sorcier Iron-Vanadium Project (1.0% vanadium royalty) is advancing metallurgical testing for feasibility study completion by Q1 2026
• Råna Nickel Project (1.0% royalty) discovered new zones of near-surface nickel-copper mineralization
• Kenbridge Nickel Project (0.5% royalty) secured C$500,000 in financing for exploration and development

Electric Royalties (ELECF) has successfully closed its brokered private placement, selling 12,248,235 units at C$0.18 per unit for gross proceeds of C$2,204,682. Additionally, the company completed a non-brokered private placement with Globex Mining Enterprises of 1,666,667 units at the same price, raising an additional C$300,000.

The total gross proceeds from both placements amount to C$2,504,682. Each unit consists of one common share and one warrant exercisable at C$0.25 for two years. The proceeds will fund a C$450,000 payment for the 0.75% Gross Revenue Royalty on the Punitaqui copper mine in Chile and general corporate purposes.

The brokered offering was conducted through Canaccord Genuity Corp. and Red Cloud Securities, who received C$122,827.77 in cash commission and 682,377 broker warrants exercisable at C$0.18 until January 15, 2027.

Electric Royalties (TSXV:ELEC, OTCQB:ELECF) has provided an update on the Battery Hill Manganese Project in New Brunswick, where it owns a 2% Gross Metal Royalty. Project operator Manganese X Energy announced a non-brokered private placement to raise C$2.1 million, including a C$2 million commitment from mining investor Eric Sprott.

The funds will primarily advance the project's pre-feasibility study. According to a 2022 preliminary economic assessment, Battery Hill is projected to generate US$177 million in annual gross revenue over a 47-year mine life, with a payback period under three years. The pre-feasibility study's completion would mark a significant milestone for the project's development as a potential leading North American source of high-purity manganese for the battery industry.

Electric Royalties (TSXV:ELEC, OTCQB:ELECF) has filed an amended and restated offering document for its brokered private placement. The offering includes up to 22,222,223 units at C$0.18 per unit, targeting gross proceeds up to $4 million. Each unit comprises one common share and one purchase warrant exercisable at C$0.25 for 2 years.

The key amendment introduces a minimum proceeds requirement of $1.5 million to ensure eligibility under the Listed Issuer Financing Exemption. Securities issued to Canadian residents (except Quebec) won't be subject to a hold period. The offering, led by Canaccord Genuity Corp. and Red Cloud Securities, is expected to close around January 9, 2025.

Electric Royalties (TSXV:ELEC, OTCQB:ELECF) announced that Green Technology Metals, operator of the Seymour Lake Lithium Project in Ontario, has received a C$100 million letter of interest for financing from Export Development Canada (EDC). Electric Royalties owns a 1.5% Net Smelter Royalty on the project.

The potential EDC financing, subject to due diligence and environmental review, could help accelerate the project's development toward becoming Ontario's first lithium producer. Green Technology Metals expects to finalize the financing structure in 2025 alongside a feasibility study currently in progress, with additional interest from global commercial lenders.

Electric Royalties provided updates on multiple royalty assets in its portfolio. Key developments include: Graphite Bull Project confirming mineralization over 240m strike outside existing resource; Authier Lithium Project announcing a merger between Sayona Mining and Piedmont Lithium with A$149M in equity raising; Millennium Project reporting significant graphite results; Mont Sorcier Project securing funding for feasibility study completion; Seymour Lake Project receiving C$5.47M government funding for infrastructure; Battery Hill Project commencing drilling to upgrade resources; and Zonia Project announcing amended mineral resources of 112.2M short tons at 0.297% copper (Indicated) and 62.9M short tons at 0.255% copper (Inferred).

Electric Royalties (TSXV:ELEC, OTCQB:ELECF) has completed the acquisition of a 0.75% Gross Revenue Royalty on the producing Punitaqui copper mine in Chile. The transaction involves a cash payment of C$3,050,000 and an additional C$450,000 to be paid within 45 days after closing.

To fund the acquisition, the company has drawn C$3,050,000 from its C$10,000,000 convertible credit facility with Gleason & Sons The loan bears interest at SOFR + 7% (maximum 12.5%), with a maturity date of January 12, 2028. The conversion price is set at C$0.50, potentially resulting in 6,100,000 common shares upon conversion.

Electric Royalties (TSXV:ELEC, OTCQB:ELECF) has received C$3,050,000 from Gleason & Sons to acquire a 0.75% gross revenue royalty on the producing Punitaqui copper project in Chile. This transaction, pending TSX Venture Exchange approval, expands Electric Royalties' portfolio to 41 royalties and 29 optioned properties. The funding comes from a C$10 million debt facility with SOFR plus 7% interest rate (max 12.5%), maturing January 2028. The company aims to achieve cash flow positivity in 2025 through this acquisition and potential production from four other royalties. The loan is convertible to common shares at minimum C$0.50 per share.

Electric Royalties announces a C$3,050,000 drawdown from its C$10,000,000 convertible credit facility with Gleason & Sons The funds will partially finance the acquisition of a 0.75% Gross Revenue Royalty on Chile's Punitaqui copper mine. The loan bears interest at SOFR + 7% (maximum 12.5%), due January 12, 2028. The lender can convert the outstanding amount into company shares at specific conversion prices, with the base price being C$0.50 or higher based on market conditions. The company will grant security interests in both the Punitaqui GRR and its 1% Gross Metal Royalty on the Mont Sorcier Project's vanadium production.