Electric Royalties Announces Interest Conversion Under Convertible Credit Facility
Electric Royalties (TSXV:ELEC)(OTCQB:ELECF) has announced that Gleason & Sons has chosen to convert C$428,540.40 of accrued interest from the company's convertible credit facility into 3,174,373 common shares at a conversion price of C$0.135 per share.
The conversion, which is being treated as a 'Shares for Debt' transaction under TSXV Policy 4.3, is expected to be completed in February 2025, subject to TSX Venture Exchange approval. The converted shares will carry resale restrictions, including a four-month and one-day holding period under Canadian securities laws and a six-month period under U.S. securities laws.
The transaction is exempt from 'related party transaction' requirements under TSXV Policy 5.9 and MI 61-101 regulations.
Electric Royalties (TSXV:ELEC)(OTCQB:ELECF) ha annunciato che Gleason & Sons ha scelto di convertire C$428,540.40 di interessi maturati dalla linea di credito convertibile dell'azienda in 3,174,373 azioni ordinarie a un prezzo di conversione di C$0.135 per azione.
La conversione, che sarà trattata come una transazione 'Azioni per Debito' ai sensi della Politica 4.3 di TSXV, dovrebbe essere completata a febbraio 2025, soggetta all'approvazione della Borsa TSX Venture. Le azioni convertite avranno restrizioni alla rivendita, incluso un periodo di detenzione di quattro mesi e un giorno secondo le leggi sui valori mobiliari canadesi e un periodo di sei mesi secondo le leggi sui valori mobiliari statunitensi.
La transazione è esente dai requisiti di 'transazione con parti correlate' ai sensi della Politica 5.9 di TSXV e delle normative MI 61-101.
Electric Royalties (TSXV:ELEC)(OTCQB:ELECF) ha anunciado que Gleason & Sons ha decidido convertir C$428,540.40 de intereses acumulados de la línea de crédito convertible de la empresa en 3,174,373 acciones ordinarias a un precio de conversión de C$0.135 por acción.
La conversión, que se tratará como una transacción 'Acciones por Deuda' bajo la Política 4.3 de TSXV, se espera que se complete en febrero de 2025, sujeta a la aprobación de la Bolsa de Valores TSX Venture. Las acciones convertidas tendrán restricciones de reventa, incluyendo un período de retención de cuatro meses y un día bajo las leyes de valores canadienses y un período de seis meses bajo las leyes de valores estadounidenses.
La transacción está exenta de los requisitos de 'transacción con partes relacionadas' bajo la Política 5.9 de TSXV y las regulaciones MI 61-101.
Electric Royalties (TSXV:ELEC)(OTCQB:ELECF)는 Gleason & Sons가 회사의 전환 가능한 신용 시설에서 발생한 C$428,540.40의 이자를 3,174,373 보통주로 전환하기로 결정했다고 발표했습니다. 전환 가격은 주당 C$0.135입니다.
이번 전환은 TSXV 정책 4.3에 따른 '부채 대 주식' 거래로 간주되며, 2025년 2월에 완료될 것으로 예상되며, TSX 벤처 거래소의 승인을 받아야 합니다. 전환된 주식은 재판매 제한이 있으며, 캐나다 증권법에 따라 4개월 1일의 보유 기간과 미국 증권법에 따라 6개월의 기간이 적용됩니다.
이번 거래는 TSXV 정책 5.9 및 MI 61-101 규정에 따른 '관련자 거래' 요구 사항에서 면제됩니다.
Electric Royalties (TSXV:ELEC)(OTCQB:ELECF) a annoncé que Gleason & Sons a choisi de convertir C$428,540.40 d'intérêts accumulés de la facilité de crédit convertible de l'entreprise en 3,174,373 actions ordinaires à un prix de conversion de C$0.135 par action.
La conversion, qui sera considérée comme une transaction 'Actions contre Dettes' selon la Politique 4.3 de TSXV, devrait être finalisée en février 2025, sous réserve de l'approbation de la Bourse TSX Venture. Les actions converties seront soumises à des restrictions de revente, y compris une période de détention de quatre mois et un jour selon les lois canadiennes sur les valeurs mobilières et une période de six mois selon les lois américaines sur les valeurs mobilières.
La transaction est exemptée des exigences relatives aux 'transactions avec des parties liées' selon la Politique 5.9 de TSXV et les règlements MI 61-101.
Electric Royalties (TSXV:ELEC)(OTCQB:ELECF) hat bekannt gegeben, dass Gleason & Sons beschlossen hat, C$428,540.40 an aufgelaufenen Zinsen aus der wandelbaren Kreditfazilität des Unternehmens in 3,174,373 Stammaktien zu einem Umwandlungspreis von C$0.135 pro Aktie umzuwandeln.
Die Umwandlung, die als 'Aktien für Schulden'-Transaktion gemäß der TSXV-Richtlinie 4.3 behandelt wird, soll im Februar 2025 abgeschlossen werden, vorbehaltlich der Genehmigung der TSX Venture Exchange. Die umgewandelten Aktien unterliegen Verkaufsbeschränkungen, einschließlich einer Haltedauer von vier Monaten und einem Tag gemäß den kanadischen Wertpapiergesetzen und einer sechsmonatigen Frist gemäß den US-Wertpapiergesetzen.
Die Transaktion ist von den Anforderungen an 'Transaktionen mit nahestehenden Personen' gemäß der TSXV-Richtlinie 5.9 und den MI 61-101-Vorschriften ausgenommen.
- Conversion of debt to equity improves balance sheet structure by reducing interest-bearing liabilities
- No immediate cash outflow required for interest payment
- Dilution of existing shareholders through issuance of 3,174,373 new shares
VANCOUVER, BC / ACCESS Newswire / February 21, 2025 / Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") announces that Gleason & Sons LLC (the "Lender") has elected to convert C
The Interest Conversion is treated as a "Shares for Debt" transaction under Policy 4.3 of the TSX Venture Exchange (the "TSXV"), and the Interest shall be settled in consideration for the Conversion Shares, upon the terms of the A&R Agreement. Completion of the Interest Conversion is subject to the approval of the TSX Venture Exchange. All of the Conversion Shares issuable in connection with the Interest Conversion will bear applicable resale legends restricting the transfer of said Conversion Shares, including for a period of four months and one day from the distribution date under Canadian securities laws, and for a period of six months under U.S. securities laws.
The "related party transaction" requirements under Policy 5.9 of the TSXV and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") do not apply as the Interest Conversion meets the exemption set forth under Section 5.1(h)(iii) of MI 61-101.
About Electric Royalties Ltd.
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.
Electric Royalties has a growing portfolio of 42 royalties in lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper across the world. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades toward a decarbonized global economy.
For further information, please contact:
Brendan Yurik
CEO, Electric Royalties Ltd.
Phone: (604) 364‐3540
Email: Brendan.yurik@electricroyalties.com
https://www.electricroyalties.com/
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information and Other Company Information
This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company within the meaning of Canadian securities laws. This news release includes information regarding other companies and projects owned by such other companies in which the Company holds a royalty interest, based on previously disclosed public information disclosed by those companies and the Company is not responsible for the accuracy of that information, and that all information provided herein is subject to this Cautionary Statement Regarding Forward-Looking Information and Other Company Information. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events and may include statements regarding the financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities of the Company and the projects in which it holds royalty interests.
While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or these projects to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the mining industry generally, recent market volatility, income tax and regulatory matters; the ability of the Company or the owners of these projects to implement their business strategies including expansion plans; competition; currency and interest rate fluctuations, and the other risks.
The reader is referred to the Company's most recent filings on SEDAR+ as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at sedarplus.ca and at otcmarkets.com.
SOURCE: Electric Royalties Ltd.
View the original press release on ACCESS Newswire
FAQ
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