Private Investor in Electric Royalties Increases Stake to Over 13%

Rhea-AI Summary

Private investor Stefan Gleason announced an increase in his stake in Electric Royalties Ltd. to over 13% by acquiring an additional 216,000 shares at a cost of $55,821 CAD. Following this purchase on July 15, 2022, Gleason's total holdings reached 11,813,928 shares and 500,000 warrants, amounting to 13.37% of the company’s outstanding shares. Gleason expressed confidence in the company's undervalued position and its strong management, emphasizing a promising future.

Positive

• Investor confidence shown by Gleason increasing stake to 13.37%.
• Acquisition indicates belief in the company's undervalued status.
• Company has cash reserves and a competitive advantage in battery metals.

Negative

• None.

CHARLOTTE, NC / ACCESSWIRE / July 18, 2022 / Stefan Gleason (the "Acquiror"), a private investor, today announced that he is filing another early warning report in connection with his acquisition of an additional 2% in outstanding shares of Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company"), taking his stake in the Company above 13%.

On July 15, 2022, Acquiror purchased 216,000 Company shares via the OTCQB (at a cost of $55,821 CAD, or an average of $0.258 per share). Prior to July 15, the Acquiror held an aggregate of 11,597,928 Common Shares and 500,000 Warrant Shares, representing approximately 13.13% of the issued and outstanding Shares on an as converted and partially diluted basis. After the purchases on July 15, the Acquiror held 11,813,928 Common Shares and 500,000 Warrant shares, or 13.37% of the issued and outstanding Shares on an as converted and partially diluted basis

On July 5, 2022, the Acquiror filed an initial report filed under the early warning reporting rules of Canadian securities laws, disclosing that he beneficially owned or had control or direction over 9,848,729 Shares and 500,000 Warrants, representing approximately 11.24% of the Company's issued and outstanding Shares on an as converted and partially diluted basis. The Acquiror is filing a second early warning report because he has now accumulated more than 2% of the Company's issued and outstanding Shares since his initial filing on July 5, 2022.

"I am excited to increase even further my investment in this undervalued company which has the benefit of cash in the bank and a first-mover advantage in the battery metals royalty space," said Gleason. "Company management has demonstrated savvy, win-win deal making abilities and communicates transparently to shareholders and the markets about the company's ongoing progress. The future is bright for this business."

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.

Electric Royalties Ltd. is located at 14th floor, 1040 West Georgia Street, Vancouver, B.C. V6E 4H1 Canada.

For further information:

Stefan Gleason
PO Box 49043, Charlotte, NC 28277
Tel: 208-577-2230
Email: stefan_gleason@yahoo.com

SOURCE: Stefan Gleason

View source version on accesswire.com:
https://www.accesswire.com/708759/Private-Investor-in-Electric-Royalties-Increases-Stake-to-Over-13

FAQ

What recent stake increase has occurred in Electric Royalties Ltd. (ELECF)?

Stefan Gleason increased his stake in Electric Royalties to over 13% by acquiring an additional 216,000 shares.

How many shares does Stefan Gleason now own in Electric Royalties Ltd. (ELECF)?

After his recent acquisition, Gleason now holds 11,813,928 common shares and 500,000 warrants in Electric Royalties.

What percentage of Electric Royalties Ltd. (ELECF) does Gleason currently own?

Stefan Gleason currently owns approximately 13.37% of the issued and outstanding shares of Electric Royalties.

When did Stefan Gleason make his most recent share purchase in Electric Royalties (ELECF)?

Gleason purchased the additional shares on July 15, 2022.

What are the implications of Gleason's increased stake in Electric Royalties Ltd. (ELECF)?

Gleason's increased investment reflects confidence in the company's potential and management, signaling a positive outlook for shareholders.