Electric Royalties Provides Update on Previously Announced Partial Disposal of Seymour Lake Royalty

Electric Royalties Provides Update on Previously Announced Partial Disposal of Seymour Lake Royalty

Electric Royalties Ltd. (TSXV:ELEC) (OTCQB:ELECF) ("Electric Royalties" or the "Company") would like to inform the market of the termination of the previously announced agreement signed on June 27, 2022 to sell 1% of its existing 1.5% Net Smelter Royalty ("NSR") on the Seymour Lake Lithium Deposit in Ontario, Canada, to Lithium Royalty Corp. ("LRC"). LRC has informed the Company that it is unwilling to waive certain conditions to closing set out in the agreement and the Company accepts LRC's position that the agreement has terminated. Accordingly, Electric Royalties will retain it's 1.5% NSR on the Seymour Lake lithium deposit

Brendan Yurik, CEO of Electric Royalties,commented:"Since signing of the initial LOI an estimate that doubles the mineral resource1 at Seymour Lake has been announced. Further, the price of lithium carbonate has neared all time highs in China of more than $70,000 a tonne2. These factors, coupled with the property owner having just raised A$55M3 to further development at Seymour Lake mean that we are delighted to retain our full 1.5% NSR."

About Electric Royalties Ltd.

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.

Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.

Electric Royalties has a growing portfolio of 19 royalties, including one royalty that currently generates revenue. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades towards a decarbonized global economy.

For further information, please contact:

Brendan Yurik
CEO, Electric Royalties Ltd.
Phone: (604) 364‐3540
Email: Brendan.yurik@electricroyalties.com
www.electricroyalties.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.

  1. Indicated Mineral Resources estimate is 5.2 million tonnes at 1.29% lithium oxide and 161 ppm tantalum pentoxide using a 0.2% lithium oxide cut-off. See Green Technology Metals Limited news release dated June 23, 2022, Appendix B: JORC Code 2012, Table 1. Both JORC and CIM are CRIRSCO members hence adhere to international resource reporting standards and adopt a similar approach to resource definition and classification. Differences between the two codes do exist in the requirements for QP site visits, technical reports and use of resource categories.
  2. https://tradingeconomics.com/commodity/lithium
  3. https://privatecapitaljournal.com/green-technology-metals-closes-a55m-offering/

Cautionary Statements Regarding Forward-Looking Information and Other Company Information

This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company within the meaning of Canadian securities laws. This news release includes information regarding other companies and projects owned by such other companies in which the Company holds a royalty interest, based on previously disclosed public information disclosed by those companies and the Company is not responsible for the accuracy of that information, and that all information provided herein is subject to this Cautionary Statement Regarding Forward-Looking Information and Other Company Information.Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events and may include statements regarding the financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities of the Company and the projects in which it holds royalty interests.

While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or these projects to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the mining industry generally, the Covid-19 pandemic, recent market volatility, income tax and regulatory matters; the ability of the Company or the owners of these projects to implement their business strategies including expansion plans; competition; currency and interest rate fluctuations, and the other risks.

The reader is referred to the Company's most recent filings on SEDAR as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com and at otcmarkets.com.

SOURCE: Electric Royalties Ltd.



View source version on accesswire.com:
https://www.accesswire.com/713717/Electric-Royalties-Provides-Update-on-Previously-Announced-Partial-Disposal-of-Seymour-Lake-Royalty

News Provided by ACCESSWIRE via QuoteMedia

ELEC:CA
The Conversation (0)
Electric Royalties Announces Appointment of New Director

Electric Royalties Announces Appointment of New Director

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to announce the appointment of Stefan Gleason as a director of the Company, effective December 11, 2023

Brendan Yurik, CEO of Electric Royalties, commented: "We thank Stefan Gleason, our largest shareholder, for his ongoing commitment to Electric Royalties and belief in our business model, and welcome him to the board of directors. We are particularly excited about the prospect of leveraging his extensive business experience to further enhance and accelerate the growth of the Company. We look forward to the valuable insights and contributions he will bring to the table."

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Electric Royalties Provides Update on Five Royalties in Portfolio

Electric Royalties Provides Update on Five Royalties in Portfolio

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to provide the following update on its royalty portfolio

Brendan Yurik, CEO of Electric Royalties, commented: "Although production is curtailed at the Penouta Mine, it's very exciting to see management of the Graphmada graphite project focus on finding a strategic partner to recommence mining operations at potentially higher production rates. We're also pleased to note the updated resource estimate for the Seymour Lake lithium project ahead of the highly anticipated preliminary economic assessment - positioning the project to potentially be one of the first lithium mines in Ontario. Additionally, the proposed project financing support by UK Export Finance for up to US$598 million covering 70% of the expected project capital expenditures for the Mont Sorcier iron and vanadium project is a great vote of confidence in the robust nature of the project.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Electric Royalties Completes Drawdowns Under Convertible Credit Facility

Electric Royalties Completes Drawdowns Under Convertible Credit Facility

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") announces that further to its October 19, 2023 news release, the Company has completed a C$500,000 drawdown (the "Drawdown") under the C$5,000,000 convertible credit facility (the "Credit Facility") with Gleason & Sons LLC (the "Lender") for working capital

The Company also announces that further to its September 27, 2023 news release, it has completed the C$1,050,000 drawdown (the "Previous Drawdown") under the Credit Facility with the Lender to fund the cash payment to acquire the additional 0.5% GRR on the Bissett Creek project, as well as its associated transaction costs.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Electric Royalties Signs Letter of Intent To Acquire Portfolio of 126 Lithium Properties in Eastern Canada

Electric Royalties Signs Letter of Intent To Acquire Portfolio of 126 Lithium Properties in Eastern Canada

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to announce that the Company has entered into a Letter of Intent with Perry English, Michael Kilbourne, 1544230 Ontario Inc. and Gravel Ridge Resources Ltd. (together, the "Vendors"), dated November 3, 2023, to acquire a portfolio of 126 lithium properties in Eastern Canada (the "Transaction

Brendan Yurik, CEO of Electric Royalties, commented: "This proposed acquisition comprises a land package of 126 properties totalling over 1,000,000 acres of highly-prospective lithium prospects in Eastern Canada - a region that could be the center of clean energy metals production for decades to come. Of these 126 properties, 101 have been optioned to various companies under a royalty prospect-generation model, whereby exploration companies make cash payments to the royalty prospector. This generates near-term cash flow while maintaining long-term upside via royalties on those assets.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Electric Royalties Provides Update on Nine Royalties in Portfolio

Electric Royalties Provides Update on Nine Royalties in Portfolio

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to provide the following update on its royalty portfolio

Brendan Yurik, CEO of Electric Royalties, commented: "We're pleased to note new developments across our portfolio, including the financed and upcoming drill programs at the Cancet, Chubb and Seymour Lake lithium projects; Northern Graphite's continued push to become one of the only major graphite producers outside of China with the Bissett Creek graphite project playing a key role; metallurgical work nearing completion for the Battery Hill manganese project ahead of the planned pre-feasibility study; and advancements at the Mont Sorcier iron and vanadium project towards a US$420 million financing package with UK Export Finance.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Altech Batteries

Altech – Results of Share Purchase Plan

Altech Batteries Limited (Altech/the Company) (ASX: ATC) provides the following update regarding its Share Purchase Plan (SPP) as announced on 17 April 2024.

Keep reading...Show less
Finger pointing up.

5 Top Weekly TSXV Stocks: Lomiko Metals Surges 133 Percent on Government Investment

The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 19.22 points last week to close at 615.17.

Markets rose this past week as silver breached the US$30 per ounce mark for the first time in more than 10 years on Friday (May 17). Gold was also on the move, rising as high as US$2,418.04 per ounce the same day. Meanwhile, copper prices surged above US$10,000 per metric ton (MT) on Monday (May 13) on the London Metal Exchange.

The latest US consumer price index data was released on Wednesday (May 15), and it shows that inflation was up 3.4 percent year-on-year in April, lower than readings seen earlier in the year. It rose 0.3 percent month-on-month.

Keep reading...Show less
Altech Batteries

East Coast Research Altech Valuation Inches Higher as Analyst Firm adds CERENERGY to Model

Description

Australian analyst firm East Coast Research has updated its valuation for Altech Batteries (ASX:ATC,FRA:A3Y) to a slightly higher range, as it added Altech’s CERENERGY batteries project to its model.

Keep reading...Show less
E-Power Resources (CSE:EPR)

E-Power Resources Inc. Announces Closing of a Second Tranche of Private Placement

E-Power Resources Inc. (CSE: EPR) ("E-Power" or the "Company") announces that it has closed the second tranche of the private placement previously announced on February 26, 2024 (the "Private Placement").

An aggregate of 1,849,114 units (the " Units") of the Company were issued in the Private Placement at a price of $0.07 per Unit for gross proceeds of $129,438, each Unit being comprised of one common share in the capital of the Company (each a "Common Share") and one-half common share purchase warrant (each a "Warrant"), each Warrant entitling its holder thereof to acquire one additional common share (each a "Warrant Share") at a price of $0.15 per Warrant Share for a period of 60 months from the closing date. (the "Offering")

Keep reading...Show less
How to Invest in Graphite (Updated 2024)

How to Invest in Graphite (Updated 2024)

Graphite has swung into focus in recent years, largely due to its key role in electric vehicle (EV) batteries.

Concerns about China's supply stranglehold and anticipated demand from lithium-ion battery megafactories have sparked investor interest, and experts believe graphite will be a key EV battery material for at least the next decade.

Today, each EV battery contains between 40 and 60 kilograms of graphite material. Putting the market's anticipated growth into perspective, Benchmark Mineral Intelligence data shows that demand for graphite from the battery sector is expected to grow by 250 percent between 2023 and 2030. Benchmark analysts see a potential supply deficit looming if graphite companies do not expand their operations.

Keep reading...Show less
Altech Batteries

Altech - Extension to Share Purchase Plan Closing Date

Altech Batteries Limited (Altech/the Company) (ASX: ATC) provides the following update regarding its $5 million Share Purchase Plan (SPP) as announced on 17 April 2024.

Keep reading...Show less

Latest Press Releases

Related News

×