Electric Royalties Ltd. is pleased to announce the closing of two previously announced royalty purchase and sale agreements to acquire, in the aggregate, a 1% Net Smelter Royalty on licenses comprising core strategic tenure at the Cancet Lithium Project situated in Quebec, Canada of the Company. The Acquisition Consideration will be subject to a voluntary escrow lock-up agreement which provides that 50% of the ...

Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company") is pleased to announce the closing of two previously announced (see Electric Royalties September 8, 2021 release) royalty purchase and sale agreements to acquire, in the aggregate, a 1% Net Smelter Royalty (the "1% NSR") on licenses comprising core strategic tenure at the Cancet Lithium Project situated in Quebec, Canada (the "Cancet Project" or "Cancet

Brendan Yurik, CEO of Electric Royalties, commented, "We are very excited to close on this transaction and gain exposure to another highly prospective lithium asset in Quebec. An information circular has recently been filed for the spin-out of Cancet into Winsome Resources and we are looking forward to the successful closing of their IPO and financing. We expect Winsome to quickly advance Cancet and are anticipating a steady flow of good news regarding their exploration and development progress."

Terms
Electric Royalties acquired the 1% NSR on the Cancet Project for a total consideration of 3,000,000 common shares ("Acquisition Consideration") of the Company. The Acquisition Consideration will be subject to a voluntary escrow lock-up agreement which provides that 50% of the common shares will be subject to a hold period of 4 months, 25% for 8 months and the remaining 25% for 12 months.

Cancet Lithium Project Overview
The Cancet Project is an exploration stage project 100% owned by MetalsTech Limited (ASX: MTC). The project is located in northern Quebec approximately 250 km east of James Bay, in the administrative region known as Nord-du-Québec. The broader project covers approximately 12,746 hectares, is beneficially located on an all-season highway and is in close proximity to low-cost hydroelectric power.

In 2017, a two-phase drill program totaling 5,216 m in 59 holes was completed on the property. Spodumene-bearing pegmatite was traced continuously along strike for approximately 1.1 km. The mineralization, as well as host pegmatite, is interpreted to be shallow dipping; however, drill testing of the down dip continuity is limited. The discovery of additional pegmatite outcrop and a spodumene-bearing boulder attests to the on-strike exploration potential at Cancet.

Options Grant
The Company also announces that it has granted 2,450,000 five-year stock options to certain management and insiders of the Company. The options have been granted under the terms of the Company's stock option plan at an exercise price of $0.415 per share.

David Gaunt, P.Geo., a Qualified Person who is not independent of Electric Royalties, has reviewed and approved the technical information in this release.

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 & 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 feed the electric revolution.

Electric Royalties has a growing portfolio of 17 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 Tel: (604) 364‐3540
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.

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. 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/668297/Electric-Royalties-Closes-Cancet-Lithium-Royalty-Acquisition

News Provided by ACCESSWIRE via QuoteMedia

South Star Battery Metals Announces Successful LiB Results from Completed Cycle Testing and Premium Dispersion Products for Alkaline Battery Markets Superior to Leading Synthetic Graphites

South Star Battery Metals Announces Successful LiB Results from Completed Cycle Testing and Premium Dispersion Products for Alkaline Battery Markets Superior to Leading Synthetic Graphites

South Star Battery Metals Corp. (" South Star " or the " Company ") (TSXV: STS) (OTCQB: STSBF), along with its technological partner in the United States ("US Lab" 1 ), are pleased to announce the successful final life cycle testing results for over 100 cycles (charging and discharging) in CR2016 LiB coin cells constructed with anode material (coated spherical purified graphite "SPG") produced from the Santa Cruz Graphite Project. In separate test work, a highly conductive dispersion was also tested that exceeds current industry standards for conductive coating applications in both energy storage and advanced purity dry film lubrication markets.

South Star's cycle testing program is complete and exceeded 100 cycles for the LiB cells. One cycle consists of 10 hours of charge and 10 hours of discharge, therefore 100 cycles equal approximately 2,000 hours total. The tests indicate very stable results with approximately 2.2% degradation through 100+ cycles while maintaining reversible capacity on the order of 342 – 345 mAh/g throughout. If these results were projected out, approximately 900 cycles could be achieved before reaching the 20% industry standard cutoff. These results are generally competitive with synthetic graphite and indicates that the Santa Cruz's battery anode material are excellent quality material that are suitable for a variety of LiB applications including EV markets. Upcoming work includes sample preparation of various downstream products so that the qualification process can begin along with processing flowsheet optimizations and performance validation. (Refer to September 22, 2021 press release for results from initial 75 cycles).

Keep reading... Show less
NextSource Materials Awards Contract to Power Its Molo Graphite Mine in Madagascar with Hybridized Solar-Thermal Energy

NextSource Materials Awards Contract to Power Its Molo Graphite Mine in Madagascar with Hybridized Solar-Thermal Energy

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces it has awarded a power supply contract to independent power producer CrossBoundary Energy ("CBE") for the long-term supply of solar and thermal generation to power the operations of its Molo graphite mine in Madagascar. The contract is for a 20-year term and has been designed to scale with the production output of the Molo mine, where delivery of power will increase in lockstep with all future expansion capacity requirements

A subsidiary of CBE in Madagascar is developing the project and will build, own, and operate the Molo hybrid energy power plant ("hybrid plant") at no capital cost to NextSource. It will be located adjacent to the Molo mine site and is expected to be operational at the same time as the Molo mine is expected to commission in Q2 of 2022. Through this contract, NextSource will initially be able to source up to one third of the Molo mine's total electricity needs from renewable solar energy. NextSource and CBE are committed to optimizing the solar component throughout the contract to increase the percentage of renewable energy to a majority.

Keep reading... Show less

Nouveau Monde Provides Corporate Update on the Development of its Mine-to-Market Battery Material Business

» Nouveau Monde's phase-1 Bécancour purification facility has produced battery-grade SPG demonstrating the performance of its proprietary ecotechnology with large scale samples produced at 99.99% purity

» Construction of phase-1 coating line is progressing on time and on budget with a commissioning start scheduled during Q1-2022

Keep reading... Show less
NextSource Materials Adds Proprietary and Established Coating Process to its Battery Anode Facility Collaboration

NextSource Materials Adds Proprietary and Established Coating Process to its Battery Anode Facility Collaboration

NextSource Materials Inc. (TSX:NEXT)(OTCQB:NSRCF) ("NextSource" or the "Company") announces it has signed a binding Amended and Restated Collaboration Agreement ("Enhanced Collaboration Agreement") with key processors of anode material within the Tesla supply chain ("the Partners") to incorporate a proprietary and established graphite coating process to its previously announced value-added, battery anode facility ("BAF") three-way collaboration

Highlights:

Keep reading... Show less
Northern Graphite Concentrates Demonstrate Excellent Performance in Battery Testing

Northern Graphite Concentrates Demonstrate Excellent Performance in Battery Testing

Northern Graphite Corporation (TSXV: NGC) (OTCQB: NGPHF) (the "Company" or "Northern") is pleased to announce that battery anode material ("BAM") manufactured from its Bissett Creek concentrates demonstrated excellent electrochemical performance during recent battery testing by ProGraphite in Germany. Testing showed that Northern's anode material can be charged to high values which remain stable with high Coulomb efficiency under various discharge conditions. ProGraphite concluded that Northern's anode material is very well suited for the manufacture of high capacity, durable, long-life lithium-ion batteries.

ProGraphite is one of the world's leading graphite R&D laboratories with several decades of professional expertise and experience. Its test results demonstrated that Bissett Creek BAM can be charged to lithiation values above 362 mAh/g which shows that the capacity of the batteries will be excellent. The delithiation (discharging) performance was also excellent as the batteries delivered stable, high values with a very high Coulomb efficiency under various test conditions. Northern's BAM also proved to be very robust. Even after charging/discharging several times at 10C (i.e. complete charging in only six minutes) and after many cycles, the Coulomb efficiency remained at a very high, constant level indicating almost no degradation of the anode material. This performance is better than many commercial natural or synthetic grades.

Keep reading... Show less
South Star Battery Metals to Host Live Corporate Webinar on November 16th at 2pm EST

South Star Battery Metals to Host Live Corporate Webinar on November 16th at 2pm EST

South Star Battery Metals Corp. ("South Star" or the "Company") (TSXV: STS) (OTCQB: STSBF), is pleased to announce that the Company's President and CEO, Richard Pearce will be providing an outlook on the global battery metals market, a brief overview of South Star's operations, the recent earn-in agreement with a highly prospective Alabama Graphite Project, South Star's competitive advantage, and upcoming operational milestones. You can register for the webinar below.

Keep reading... Show less

Top News

Related News