Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) announced that it has amended its private placement terms, setting a $1.5 million minimum to ensure eligibility under the listed issuer financing exemption.
The offering, led by Canaccord Genuity (TSX:CF, LSE:CF) and Red Cloud, seeks to raise up to $4 million by issuing units priced at C$0.18, each comprising a share and a warrant exercisable at C$0.25 for two years.
The offering is expected to close by January 9, pending regulatory approvals