Private Investor in Electric Royalties to File Early Warning Report

Rhea-AI Summary

Stefan Gleason, a private investor, has acquired an additional 1,138,750 shares of Electric Royalties Ltd. (ELECF) on June 30, 2022, raising his ownership to approximately 11.24% of the company's total shares. The acquisition cost was $223,717.71 CAD, averaging $0.196 per share. Previously, Gleason owned 8,709,979 shares and 500,000 warrants. He describes the company as undervalued and expects to continue increasing his investment, citing strong management and a first-mover advantage in the electric metals royalty sector.

Positive

• Increased ownership to approximately 11.24% demonstrates strong investor confidence.
• Gleason believes in the company's undervaluation and potential for growth.
• Management has shown effective deal-making and transparency with shareholders.

Negative

• None.

CHARLOTTE, NC / ACCESSWIRE / July 4, 2022 / Stefan Gleason (the "Acquiror"), a private investor, today announced that he is filing an early warning report in connection with his acquisition of shares of Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company").

On June 30, Acquiror purchased 1,138,750 Company shares via the OTCQB (at a cost of $223,717.71 CAD, or an average of $0.196 per share), taking his interest above the 10% reporting threshold. Prior to June 30, the Acquiror held an aggregate of 8,709,979 Shares and 500,000 Warrant Shares. The aggregate Shares and Warrants over which the Acquiror had beneficial ownership, control or direction represented approximately 9.99% of the issued and outstanding Shares on an as converted and partially diluted basis.

As of the date hereof, the Acquiror now beneficially owns or has control or direction over 9,848,729 Shares and 500,000 Warrants, representing approximately 11.24% of the issued and outstanding Shares on an as converted and partially diluted basis. This will be the initial report filed under the early warning reporting rules of Canadian securities laws by the Acquiror.

"I am pleased to increase investment in what I believe to be an undervalued company having the benefit of cash in the bank and a first-mover advantage in the electric 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. I expect to acquire additional shares over time."

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 14^th 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/707253/Private-Investor-in-Electric-Royalties-to-File-Early-Warning-Report

FAQ

What recent acquisition did Stefan Gleason make in Electric Royalties (ELECF)?

Stefan Gleason acquired 1,138,750 shares of Electric Royalties (ELECF) on June 30, 2022.

How much of Electric Royalties does Stefan Gleason now own?

Stefan Gleason now owns approximately 11.24% of Electric Royalties after his recent purchase.

What was the cost of the shares acquired by Gleason in Electric Royalties?

Gleason's recent acquisition cost was $223,717.71 CAD.

What does Gleason think about Electric Royalties?

Gleason believes Electric Royalties is undervalued and has potential due to its cash reserves and market position.