Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) has announced that Gleason & Sons has chosen to convert C$578,176 of accrued interest on the company's convertible credit facility into 2,753,220 common shares at a conversion price of C$0.21 per share.
Subject to TSX Venture Exchange approval, the company expects to issue the shares in June 2024.