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Principal of U.S. Metals Dealer Increases Stake in Electric Royalties to 24%

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Stefan Gleason, a U.S. metals dealer, has increased his stake in Electric Royalties to 24%. Gleason cites positive developments in the company's royalties, particularly Battery Hill, Seymour Lake, and Mont Sorcier, as reasons for his increased investment. He highlights the undervaluation of Electric Royalties and points to the recent acquisition of a package of lithium properties that will provide near-term cash flow and expand the company's royalty count. Gleason's use of the 'Normal Course Purchase Exemption' allows him to acquire additional shares without triggering a takeover bid requirement. His continued investment showcases confidence in Electric Royalties' potential.

Stefan Gleason, un commerciante di metalli statunitense, ha aumentato la sua partecipazione in Electric Royalties al 24%. Gleason menziona sviluppi positivi nelle royalty dell'azienda, in particolare a Battery Hill, Seymour Lake e Mont Sorcier, come motivi dell'incremento del suo investimento. Egli evidenzia la sottovalutazione di Electric Royalties e fa riferimento all'acquisizione recente di un pacchetto di proprietà di litio che fornirà un flusso di cassa a breve termine ed espanderà il numero delle royalty dell'azienda. L'uso da parte di Gleason dell' 'Esenzione da Acquisto in Corsa Normale' gli permette di acquisire ulteriori azioni senza innescare l'obbligo di un'offerta pubblica di acquisto. Il suo continuo investimento dimostra fiducia nel potenziale di Electric Royalties.
Stefan Gleason, un comerciante de metales de EE. UU., ha incrementado su participación en Electric Royalties al 24%. Gleason cita desarrollos positivos en las regalías de la compañía, particularmente en Battery Hill, Seymour Lake y Mont Sorcier, como razones para aumentar su inversión. Destaca la infravaloración de Electric Royalties y señala la reciente adquisición de un paquete de propiedades de litio que proporcionará flujo de caja a corto plazo y ampliará el conteo de regalías de la compañía. El uso por Gleason de la 'Exención de Compra en Curso Normal' le permite adquirir acciones adicionales sin activar un requisito de oferta de compra. Su inversión continua muestra confianza en el potencial de Electric Royalties.
미국의 금속 딜러인 스테판 글리슨이 Electric Royalties의 지분을 24%로 증가시켰습니다. 글리슨은 특히 Battery Hill, Seymour Lake, Mont Sorcier에서의 긍정적인 개발을 투자 증가의 이유로 지적합니다. 그는 Electric Royalties의 저평가를 강조하고 회사의 로열티 수를 확장할 것이며 단기 현금 흐름을 제공할 리튬 자산 패키지의 최근 인수를 언급합니다. 글리슨의 '정상 코스 구매 면제' 사용은 인수 입찰 요건을 촉발하지 않고 추가 주식을 취득할 수 있게 합니다. 그의 지속적인 투자는 Electric Royalties의 잠재력에 대한 신뢰를 보여줍니다.
Stefan Gleason, un négociant en métaux américain, a augmenté sa participation dans Electric Royalties à 24 %. Gleason cite des développements positifs dans les redevances de la société, notamment à Battery Hill, Seymour Lake et Mont Sorcier, comme raisons de son investissement accru. Il souligne la sous-évaluation d'Electric Royalties et fait référence à l'acquisition récente d'un ensemble de propriétés de lithium qui fournira un flux de trésorerie à court terme et augmentera le nombre de redevances de l'entreprise. L'utilisation par Gleason de l'exemption d'achat en cours normal lui permet d'acquérir des actions supplémentaires sans déclencher une obligation d'offre publique d'achat. Son investissement continu montre sa confiance dans le potentiel d'Electric Royalties.
Stefan Gleason, ein US-Metallhändler, hat seinen Anteil an Electric Royalties auf 24 % erhöht. Gleason führt positive Entwicklungen bei den Royalties des Unternehmens, insbesondere bei Battery Hill, Seymour Lake und Mont Sorcier, als Gründe für seine erhöhte Investition an. Er hebt die Unterbewertung von Electric Royalties hervor und verweist auf den kürzlichen Erwerb eines Lithiumimmobilienpakets, das kurzfristige Cashflows liefern und die Anzahl der Royalties des Unternehmens erweitern wird. Gleasons Nutzung der 'Normal Course Purchase Exemption' ermöglicht es ihm, zusätzliche Aktien zu erwerben, ohne eine Übernahmeangebotspflicht auszulösen. Seine fortgesetzte Investition zeigt Vertrauen in das Potenzial von Electric Royalties.
Positive
  • Stefan Gleason's increased stake in Electric Royalties demonstrates his confidence in the company's growth potential and positive developments in its royalties portfolio.

  • The acquisition of a package of lithium properties under an asset purchase agreement adds near-term cash flow and expands Electric Royalties' royalty count, positioning the company for future growth.

  • The 'Normal Course Purchase Exemption' allows Gleason to acquire additional shares without triggering a takeover bid requirement, showcasing his commitment to supporting Electric Royalties' growth without causing market disruption.

Negative
  • Despite Gleason's confidence in Electric Royalties, the undervaluation of the company's assets raises concerns about the market's perception of its true worth, potentially affecting shareholder returns in the long term.

CHARLOTTE, NC / ACCESSWIRE / April 30, 2024 / Stefan Gleason (the "Acquiror" or "Gleason") today announced that he is filing another early warning report in connection with his acquisition on the open market of additional shares of Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company").

Gleason now beneficially owns or has control or direction over approximately 24% of the Company's issued and outstanding common shares.

"With positive developments recently announced in connection with several of the Company's largest royalties, especially Battery Hill, Seymour Lake, and Mont Sorcier, I am pleased to continue placing bids in the open market and bolster my overall investment in the Company," said Gleason. "Given the current market capitalization, I believe the assets held by Electric Royalties are dramatically undervalued."

"Meanwhile, the package of lithium properties under the asset purchase agreement signed this month creates near-term cash flow from scheduled option payments, nearly doubles the Company's royalty count to 40, charts a path to 72 royalties, and adds even more sizzle to the Company's portfolio."

Gleason is utilizing the "Normal Course Purchase Exemption" in National Instrument 62-104 -Take-Over Bids and Issuer Bids. The exemption permits additional share purchases above the 20% threshold without triggering a takeover bid requirement so long as the acquisitions within any 12-month period do "not exceed 5% of the securities of that class outstanding at the beginning of the 12-month period."

Stefan Gleason is a Charlotte-based entrepreneur who leads several privately held businesses in the United States, including Money Metals Exchange LLC. Money Metals is one of the largest precious metals dealers and depositories in North America.

Gleason was elected a Director of the Company at the annual meeting last December. His family office, Gleason & Sons LLC, recently provided an expanded C$10 million convertible credit facility that potentially enables the Company to acquire new assets without raising equity, thereby avoiding dilution of existing shareholders.

On April 29, 2024, Acquiror purchased 56,900 Company shares via the TSXV (at a cost of C$14,225.00, or an average of $0.25 per share). Prior to April 29, the Acquiror held an aggregate of 23,142,104 Common Shares, representing 23.956% of the issued and outstanding Shares on an as converted and partially diluted basis. After the purchases on April 29, the Acquiror held 23,199,004 Common Shares, or 24.015% of the issued and outstanding Shares on an as converted and partially diluted basis.

On March 14, 2024, the Acquiror previously filed a report under the early warning reporting rules of Canadian securities laws, disclosing that he beneficially owned or had control or direction over 21,237,368 Common Shares, at the time representing 21.985% of the Company's issued and outstanding Shares on an as converted and partially diluted basis. The Acquiror is filing this latest early warning report because he has now accumulated more than 2% of the Company's issued and outstanding Shares since his prior filing on March 14, 2024.

This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the Early Warning Report will be filed at www.sedar.com.

For further information, contact:

Stefan Gleason
Gleason & Sons LLC
15720 Brixham Hill Avenue, #205
Charlotte, NC 28277
Tel: 208-577-2230

This release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address anticipated future events are forward-looking statements. Although the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future events and actual results or developments may differ materially from those in the forward-looking statements including as a result of the failure to obtain regulatory approvals, the availability of royalties, the production of properties underlying royalties not being as anticipated, and the Company's cash flow position deteriorating as a result of business or economic conditions.

SOURCE: Gleason & Sons LLC



View the original press release on accesswire.com

FAQ

Who is Stefan Gleason?

Stefan Gleason is a U.S. metals dealer who has increased his stake in Electric Royalties to 24%.

What are the positive developments cited by Gleason for his increased investment in Electric Royalties?

Gleason highlights positive developments in the company's royalties, particularly mentioning Battery Hill, Seymour Lake, and Mont Sorcier.

How does the 'Normal Course Purchase Exemption' benefit Gleason's acquisition strategy?

The 'Normal Course Purchase Exemption' allows Gleason to acquire additional shares without triggering a takeover bid requirement, providing flexibility in his investment approach.

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