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Electric Royalties Ltd. (ELECF) is a royalty company focused on commodities essential for electrification. With a portfolio of 40 royalties across the globe and 32 lithium properties in Ontario, Canada, the company is strategically positioned to benefit from the growing demand for clean energy minerals. Recent acquisitions have bolstered their royalty count significantly, with a specific focus on lithium, vanadium, manganese, tin, and more. The Company's aggressive growth strategy and diversified portfolio offer investors exposure to the clean energy transition, making them a key player in the decarbonization of the global economy.
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Stefan Gleason has initiated a series of exempt open market purchases of common shares of Electric Royalties Ltd., increasing his direct and indirect ownership stake above 20%. He is using the 'Normal Course Purchase Exemption' to make additional share purchases without triggering a takeover bid requirement. Important developments in connection with several of the Company's larger royalties, along with the potential acquisition of a million-acre package of prospective lithium properties, have led to Gleason's decision to bolster his investment in the Company. His family office, Gleason & Sons LLC, has committed to providing an expanded C$10 million convertible loan to the Company.
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Electric Royalties Ltd. provides updates on its royalty portfolio, including significant progress at the Battery Hill Manganese Project, Seymour Lake Lithium Project, Kenbridge Nickel Project, Chubb Lithium Project, and Penouta Tin-Tantalum Mine. The company anticipates a great year as its portfolio matures and more royalty assets advance toward production.
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Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) appoints Stefan Gleason as a director, effective December 11, 2023.
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Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) provided updates on its royalty portfolio, including Seymour Lake lithium project's updated mineral resource estimate, Mont Sorcier iron and vanadium project's potential project financing support, Chubb lithium project's drilling program, and the situation at Penouta tin-tantalum mine and Graphmada graphite mine.
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Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) announces completion of C$500,000 drawdown under C$5,000,000 convertible credit facility with Gleason & Sons LLC for working capital. The company also completed C$1,050,000 drawdown to fund the cash payment for additional GRR on the Bissett Creek project. Loans bear interest at a floating rate, with Interest payments capitalized into the principal amount and due at the Maturity Date. Loaned amounts plus accrued Interest are convertible into common shares of Electric Royalties. Disinterested shareholder approval will be required for any Conversion that results in the Lender holding more than 20% of the outstanding voting shares of the Company. The Maturity Date of the Drawdown and the Previous Drawdown under the Credit Facility is January 12, 2026.
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Electric Royalties Ltd. has entered into a Letter of Intent to acquire a portfolio of 126 lithium properties in Eastern Canada. The properties are currently being explored by third parties under option agreements and have the potential to result in royalties payable to Electric Royalties. The acquisition is expected to generate approximately C$6 million in option payments over the next three years. Canadian-sourced lithium is strategically located near the U.S. battery belt and is expected to play a significant role in the EV battery supply chain.
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Electric Royalties Ltd. provides an update on the Middle Tennessee Mine (MTM) in Tennessee, operated by Nyrstar. Production operations at MTM will be temporarily paused on November 30, 2023, due to weakened market conditions and inflationary impacts on costs and margins. Nyrstar plans to conduct exploration drilling during the pause to define additional zinc, germanium, and gallium resources. Electric Royalties owns a 25% economic interest in the MTM zinc royalty.
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Electric Royalties Ltd. provides an update on its royalty portfolio, highlighting new developments in various projects. These include financed and upcoming drill programs at Cancet, Chubb, and Seymour Lake lithium projects, Northern Graphite's progress in becoming a major graphite producer, metallurgical work for the Battery Hill manganese project, and advancements at the Mont Sorcier iron and vanadium project towards a $420 million financing package.
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Gleason & Sons commits to providing Electric Royalties with $10 million convertible credit facility for acquiring cash-flowing royalties
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Electric Royalties signs commitment letter to increase convertible credit facility to C$10,000,000 with Gleason & Sons LLC
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FAQ
What is the current stock price of ELECTRIC ROYALTIES (ELECF)?
The current stock price of ELECTRIC ROYALTIES (ELECF) is $0.12 as of November 22, 2024.
What is the market cap of ELECTRIC ROYALTIES (ELECF)?
The market cap of ELECTRIC ROYALTIES (ELECF) is approximately 12.5M.
What commodities does Electric Royalties focus on?
Electric Royalties focuses on commodities such as lithium, vanadium, manganese, tin, and more, that are essential for electrification.
Where are the lithium properties of Electric Royalties located?
Electric Royalties has 32 lithium properties in Ontario, Canada, strategically positioning them to benefit from the growing demand for lithium.
Who is Stefan Gleason, and what is his role with Electric Royalties?
Stefan Gleason is a Charlotte-based entrepreneur and Director of Electric Royalties. His family office has provided the Company with a C$10 million convertible credit facility.
What recent acquisitions has Electric Royalties made?
Electric Royalties recently acquired a portfolio of 18 royalty agreements and 32 lithium properties in Ontario, Canada, expanding their presence in the region.
How does Electric Royalties plan to grow its portfolio?
Electric Royalties aims to acquire royalties on advanced stage and operating projects in low geopolitical risk jurisdictions to build a diversified portfolio aligned with the clean energy transition.
ELECTRIC ROYALTIES LTD
OTC:ELECF
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12.47M
57.41M
44.2%
3.24%
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