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ELECTRIC ROYALTIES LTD - ELECF STOCK NEWS

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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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Electric Royalties provides update on royalty portfolio, including increased royalty rate on cash-flowing Penouta tin-tantalum royalty. Record production and sales reported at Penouta Mine. Mont Sorcier project secures up to US$420 million of support for project financing. Nickel-copper-cobalt mineralization intersected at Råna Project. Drill program and metallurgical test work ongoing at Chubb Lithium Project.
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Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) Updates Royalty Portfolio with Significant Progress, Including $420 Million Financing for Mont Sorcier Project
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Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) announced a C$500,000 loan drawn from a C$5,000,000 convertible credit facility from a significant shareholder. The loan has a 3-year term and interest of SOFR + 7%, capped at 12.5%. After six months, the loan is convertible into shares at the greater of C$0.50 or a 100% premium above the 30-day VWAP (C$0.71). The funding will be allocated for acquiring the Kenbridge nickel royalty. As a related party transaction, it is exempt from certain minority shareholder approval requirements. Electric Royalties operates in the growing electric commodities sector, focusing on royalties from projects essential for electrification, with a portfolio of 21 royalties, two of which generate revenue.

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Electric Royalties Ltd. (TSXV:ELEC) (OTCQB:ELECF) has announced an increase in its convertible credit facility from C$2 million to C$5 million with Gleason & Sons LLC. The interest rate has been reduced to SOFR + 7%, capped at 12.5%, from the previous 15%. The company will draw C$500,000 for the acquisition of the Kenbridge nickel royalty. In addition, Stefan Gleason has been appointed as a Board Observer, allowing him to participate in meetings without voting rights. The loan amendment is subject to TSX Venture Exchange approval. Electric Royalties aims to capitalize on increasing demand for commodities essential to the electrification of consumer products, holding a portfolio of 21 royalties.

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Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) announced updates on its royalty portfolio, highlighting significant developments in its Authier lithium project, which is nearing production as part of Canada's largest lithium mining operation. The company holds a 0.5% gross metal royalty on Authier and has assembled a diverse portfolio of 21 royalties, attracting approximately $420 million in investments at no cost to Electric Royalties. The company also reports resource upgrades for key projects, such as Zonia and Millennium copper, and positive metallurgical results from the Graphite Bull project. Overall, Electric Royalties is positioned for potential growth despite market challenges.

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Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) reported that Sayona Mining Limited has submitted its Authier Lithium Project for an environmental impact assessment under the Québec Government's BAPE process. This submission aims to address local environmental concerns. Sayona's North American Lithium operation is set to resume spodumene production in March 2023, which will utilize Authier as a source of feed. The project now has a reduced environmental footprint and no longer requires a separate concentrator or tailings storage. Electric Royalties holds a 0.5% gross metal royalty on the Authier project.

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FAQ

What is the current stock price of ELECTRIC ROYALTIES (ELECF)?

The current stock price of ELECTRIC ROYALTIES (ELECF) is $0.1403 as of October 15, 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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12.49M
56.13M
44.2%
3.24%
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