Electric Royalties completes C$2M private placement; updates royalty acquisition on Middle Tennessee mine
The company has a portfolio of a dozen battery and electric vehicle metals royalties
Company
Electric Royalties Ltd
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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Electric Royalties renegotiates its LOI with Sprott Streaming for the Globex Mining MTM royalty acquisition
The revised agreement will reduce the cash component payable by Electric Royalties to zero, which would provide better value for its shareholders
Electric Royalties outlines highlights from "incredible quarter of growth" across its royalty asset portfolio
Electric Royalties has a portfolio of 12 royalties and four more acquisitions in progress
Electric Royalties plans to complete a private placement of up to 25,000,000 units for proceeds of up to $10M
The company said the proceeds will be used to fund royalty acquisitions as well as for general corporate working capital purposes
Electric Royalties signs LOI with Sprott Resource Streaming and Royalty to help fund Middle Tennessee Mine royalty acquisition
Under the proposed terms, Sprott Streaming would pay C$9.15 million in cash in return for 50% of the mine royalty with Electric Royalties retaining 50% of the royalty
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Electric Royalties acquires its first cash-flowing royalty from Globex Mining
Electric Royalties will pay Globex C$13 million in cash plus 14.5 million Electric Royalties shares in consideration for the two royalties