Electric Royalties Ltd. Announces Up to C$4 Million "Best Efforts" Private Placement
Summary
Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a "Warrant Share") at an exercise price of C$0.25 per Warrant Share for a period of 2 years following the closing of the Offering.The net proceeds of the Offering will be used to complete the acquisition of the 0.75% Gross Revenue Royalty relating to the Punitaqui copper mine in Chile und for general corporate purposes.The Offering is expected to close on or about December 20, 2024, or such other date as the Company and the Agents may agree and is subject to certain conditions including, but not limited to, the receipt of all necessary regulatory and other approvals including the acceptance of the TSX Venture Exchange.Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 Prospectus Exemptions ("NI 45-106"), the Units will be offered for sale to purchasers resident in Canada (other than Qu\xe9bec residents) and/or other qualifying jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106 (the "Listed Issuer Financing Exemption"). Prospective investors should read this offering document before making an investment decision.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. Persons (as defined in Regulation S under the 1933 Act) unless registered under the 1933 Act and applicable state securities laws, or an exemption from such registration requirements is available.This news release includes certain forward-looking statements concerning the use of proceeds of the Offering, the closing date of the Offering, the reliance on the Lister Issuer Financing Exemption, acceptance of the TSXV, the future performance of our business, its operations and its financial performance and condition, as well as managements objectives, strategies, beliefs and intentions. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.For further information, please contact: Brendan Yurik CEO, Electric Royalties Ltd.