Electric Royalti Stock Price, News & Analysis

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) announced a C$500,000 loan drawn from a C$5,000,000 convertible credit facility from a significant shareholder. The loan has a 3-year term and interest of SOFR + 7%, capped at 12.5%. After six months, the loan is convertible into shares at the greater of C$0.50 or a 100% premium above the 30-day VWAP (C$0.71). The funding will be allocated for acquiring the Kenbridge nickel royalty. As a related party transaction, it is exempt from certain minority shareholder approval requirements. Electric Royalties operates in the growing electric commodities sector, focusing on royalties from projects essential for electrification, with a portfolio of 21 royalties, two of which generate revenue.

Electric Royalties Ltd. (TSXV:ELEC) (OTCQB:ELECF) has announced an increase in its convertible credit facility from C$2 million to C$5 million with Gleason & Sons LLC. The interest rate has been reduced to SOFR + 7%, capped at 12.5%, from the previous 15%. The company will draw C$500,000 for the acquisition of the Kenbridge nickel royalty. In addition, Stefan Gleason has been appointed as a Board Observer, allowing him to participate in meetings without voting rights. The loan amendment is subject to TSX Venture Exchange approval. Electric Royalties aims to capitalize on increasing demand for commodities essential to the electrification of consumer products, holding a portfolio of 21 royalties.

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) announced updates on its royalty portfolio, highlighting significant developments in its Authier lithium project, which is nearing production as part of Canada's largest lithium mining operation. The company holds a 0.5% gross metal royalty on Authier and has assembled a diverse portfolio of 21 royalties, attracting approximately $420 million in investments at no cost to Electric Royalties. The company also reports resource upgrades for key projects, such as Zonia and Millennium copper, and positive metallurgical results from the Graphite Bull project. Overall, Electric Royalties is positioned for potential growth despite market challenges.

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) reported that Sayona Mining Limited has submitted its Authier Lithium Project for an environmental impact assessment under the Québec Government's BAPE process. This submission aims to address local environmental concerns. Sayona's North American Lithium operation is set to resume spodumene production in March 2023, which will utilize Authier as a source of feed. The project now has a reduced environmental footprint and no longer requires a separate concentrator or tailings storage. Electric Royalties holds a 0.5% gross metal royalty on the Authier project.

Electric Royalties Ltd. (TSXV:ELEC, OTCQB:ELECF) has entered into a binding letter agreement to acquire a 0.5% gross revenue royalty on the Kenbridge Nickel Project from Tartisan Nickel Corp. for C$500,000 and 2.5 million common shares. The company can purchase an additional 0.5% royalty for C$1.75 million within 18 months. The Kenbridge Project, located in Ontario, has measured and indicated resources of 3.445 million tonnes at 0.97% nickel and 0.52% copper. The preliminary economic assessment indicates potential revenues of C$837 million. The agreement is subject to due diligence and regulatory approvals.

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) has announced significant updates on its royalty portfolio, signaling a strong start to 2023. Key highlights include the acquisition of a royalty on the Penouta tin-tantalum mine, marking it as the company's second cash-flowing royalty. The Authier lithium project is on track to enter production later in 2023, potentially becoming the first lithium cash-flowing royalty. The company's lithium portfolio shows promising advancements, including positive metallurgy results at Seymour Lake and a new partnership developing the Bouvier project. Electric Royalties is optimistic about its ongoing projects and an active deal pipeline, expecting many milestones ahead.

Electric Royalties Ltd. announced the closing of its acquisition of a 0.75% gross revenue royalty on the Penouta tin-tantalum mine in Spain, paying C$1,000,000 and issuing 500,000 common shares. The company has an option to acquire an additional 0.75% royalty for C$1,250,000. This move provides Electric Royalties with its first cash flow exposure to tin, essential for electronics and renewable technologies. The Penouta mine is Europe's largest tin and tantalum producer, and the acquisition aligns with Electric Royalties' strategy to capitalize on the growing demand for commodities tied to clean energy initiatives. The mine has significant resources and long-term production potential.