/Not for distribution to United States newswire services or for
dissemination in the United
States/
VANCOUVER, BC, Dec. 9, 2024
/CNW/ - Electric Royalties Ltd. (TSXV:
ELEC) (the "Company") is pleased to announce that
it has entered into an agreement with Canaccord Genuity Corp. and
Red Cloud Securities Inc. (the "Agents"), pursuant to which
the Agents have agreed to act as agents, on a "best efforts" basis,
in connection with a private placement of up to 22,222,223 units of
the Company (the "Units") at a price of C$0.18 per Unit (the "Issue Price") for
gross proceeds of up to approximately C$4
million (the "Offering").
Each Unit will be comprised of one common share of the Company
(each, a "Common Share") and one common share purchase
warrant of the Company (each whole common share purchase warrant, a
"Warrant"). 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 Québec 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"). Because the Offering is being
completed pursuant to the Listed Issuer Financing Exemption, the
securities issued to Canadian resident subscribers in the Offering
will not be subject to a hold period pursuant to applicable
Canadian securities laws.
There is an offering document related to the Offering that can
be accessed under the Company's profile at www.sedarplus.ca and at
www.electricroyalties.com. Prospective investors should read this
offering document before making an investment decision.
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 41 royalties in
lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc
and copper across the world. 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
toward a decarbonized global economy.
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 and Forward-Looking Statements
This news release does not constitute an offer to sell or a
solicitation of an offer to buy nor shall there be any sale of any
of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful, including any of the
securities in the United States of
America. The securities have not been and will not be
registered under the United States Securities Act of 1933,
as amended (the "1933 Act") or any state securities laws and may
not be offered or sold within the United
States or to, or for account or benefit of, U.S. 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 management's objectives, strategies, beliefs
and intentions. Forward-looking statements are frequently
identified by such words as "may", "will", "plan", "expect",
"anticipate", "estimate", "intend" and similar words referring to
future events and results. Forward-looking statements are based on
the current opinions and expectations of management. All
forward-looking information is inherently uncertain and subject to
a variety of assumptions, risks and uncertainties, including the
speculative nature of mineral exploration and development,
fluctuating commodity prices, competitive risks and the
availability of financing, as described in more detail in our
recent securities filings available at www.sedarplus.ca. Actual
events or results may differ materially from those projected in the
forward-looking statements and we caution against placing undue
reliance thereon. We assume no obligation to revise or update these
forward-looking statements except as required by applicable
law.
SOURCE Electric Royalties Ltd.