Electric Royalties Ltd (TSX-V:ELEC, OTC:ELECF) is strengthening its balance sheet as Gleason & Sons LLC converts about C$428,500 in accrued interest into 3,174,373 common shares at C$0.135 per share.
The move, pending TSX Venture Exchange approval, reduces debt while aligning the lender’s interests with shareholders.
Shares are expected to be issued in February 2025 with resale restrictions.