ELECTRIC ROYALTIES LTD - ELECF STOCK NEWS

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.

Electric Royalties has entered into a definitive agreement to acquire a 0.75% Gross Revenue Royalty on the producing Punitaqui copper mine in Chile for C$3.5 million. The mine, which resumed operations in May 2024, is expected to reach a production rate of 19-23 million pounds of copper in concentrate annually. The project includes four satellite copper resources with existing infrastructure and key permits. BMR is currently executing underground drilling at Cinabrio and San Andres mines, with plans to commence production at Cinabrio Norte in H2 2025. The company will not proceed with the previously announced Minera Cobre Verde copper stream.

Electric Royalties (TSXV:ELEC)(OTCQB:ELECF) has provided updates on seven royalties in its portfolio. Key highlights include:

• Kingsrose Mining earned a 51% interest in the Råna nickel-copper-cobalt project in Norway and plans to increase it to 65%.
• Significant graphite intervals were discovered at the Millennium copper-cobalt project in Queensland, Australia.
• Ongoing drilling at the Graphite Bull project in Western Australia aims to support a mineral resource estimate in Q4 2024.
• A priority exploration target has been identified at the Ruddy lithium project in Ontario, Canada.
• Manganese X Energy continues work on the Battery Hill manganese project in New Brunswick, Canada, preparing for a prefeasibility study.
• Greenwing Resources is seeking strategic investment to restart the Graphmada graphite mine in Madagascar.
• Strategic Minerals Europe Corp. has suspended operations at the Penouta tin-tantalum mine in Spain and initiated a voluntary structured insolvency process.

Electric Royalties (TSXV:ELEC)(OTCQB:ELECF) has signed a binding agreement to acquire a copper stream from Minera Cobre Verde in Chile for US$2.1 million. The stream grants Electric Royalties the right to acquire 76,000 pounds of copper monthly at a fixed price of US$2.75 per pound for four years. The transaction is cash-settled and not dependent on actual production. There's an opportunity to double the stream volume for an additional US$2.1 million. The deal aims to provide immediate cash flow and leverage to potentially increasing copper prices. The stream could generate monthly revenue of US$162,450 to US$324,900 based on projected copper prices.