Company
CVE:ELEC
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.
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CEO Brendan Yurik told shareholders that the company is excited that its Graphmada graphite and Seymour Lake lithium royalty assets are nearing the completion of mineral resource upgrades
The company said it intends to use the net proceeds from the offering for general corporate purposes, including funding potential future acquisitions of royalties and other interests, targeting commodities that enable the clean energy trans
"The MTM royalty represents what we anticipate to be many more royalties of its kind as we seek to prioritize the acquisition of cash-flowing royalties to continue to grow the company,” CEO Brendan Yurik said
A number of these projects are making "significant progress", CEO Brendan Yurik said in a wide-ranging update that highlighted positive results from the Cancet and Seymour Lake lithium projects, the Graphmada graphite project and Mont Sorci
Brendan Yurik, CEO of Electric Royalties commented: "We are tremendously excited about adding the first tin royalty to our metals portfolio"
The company has a royalty on the Graphmada mine in Madagascar, which was in continuous production for 20 months before being placed on care and maintenance on the outbreak of the pandemic
The prospectus is valid for a 25-month period during which time the company would be permitted to offer up to $100 million of common shares, warrants, subscription receipts, debt securities, or any combination, including in the form of unit
Electric said it had now issued 1.8 million shares of the company to Casper Peterson, Jeroen Van Gool, Martin Blakeman and Winton Willesee (as nominees for SRH) and made a cash payment of $90,000 to SRH, issued 200,000 consideration shares
The deal sees GEMC increase its position in Electric, which will gain a 1% net smelter return royalty on the project
“We anticipate major catalysts across most of our portfolio in 2022 so despite the robust asset advancement we've seen in 2021, we're expecting 2022 to be even more exciting," CEO Brendan Yurik said
Electric Royalties currently has a portfolio of 12 royalties and plans to focus predominantly on acquiring royalties on advanced stage and operating projects
The company has three royalties that should be in production within 12 to 18 months and it plans to acquire more producing royalties
The company said it will receive distributions from the Middle Tennessee Mine royalty on a quarterly basis, at minimum
The Cancet project is an exploration stage project in northern Quebec approximately 250 kilometers east of James Bay
Among the larger developments, Electric Royalties said that Australia’s Sayonara Mining Limited has completed its acquisition of North American Lithium, giving it ownership of the Authier Lithium project where Electric owns a 0.5% gross rev
Electric Royalties said OTCQB eligibility will allow the company to expand its audience and activate its shareholder base in the US market
Electric Royalties will issue 3 million of its common shares as payment for the Cancet royalty in an all-stock transaction
Under the Royalty Purchase Agreement, Electric Royalties will issue an aggregate of 7,270,408 common shares to Vox at a deemed price of $0.392 per share
The Middle Tennessee Mine royalty interest will transform Electric Royalties into a cash flowing royalty company
The royalty firm zeroed in on its Authier, Battery Hill, Seymour Lake and Millennium Cobalt interests, all of which saw significant activity over the past few weeks
