VANCOUVER, BC /ACCESSWIRE/May 30, 2022/ Electric Royalties Ltd. (TSXV:ELEC) (OTCQB:ELECF) (“Electric Royalties” or the “Company”) is pleased to announce the closing of the previously announced acquisition of Sleitat Tin-Silver Royalty (see press release dated March 10 2022) with a wholly-owned subsidiary of Cornish Metals Inc. (TSXV: CUSN) (AIM: CUSN) to acquire a 1% net smelter royalty (the “1% NSR”) on mining claims comprising a strategic tenure of base at Sleitat Mountain Tin-Silver Deposit in Southwest Alaska (the “Sleitat Project” or “Sleitat”).
The Sleitat project was originally discovered by Cominco American Inc. in 1983 and comprises claims totaling 1,425 hectares. The greisen bodies that host mineralization at Sleitat are divided into a north zone and a south zone. The North Zone was investigated by a total of 14 holes in three drill campaigns and demonstrated that the tin mineralization is shallow and therefore potentially open pit mineable. The northern zone is open laterally and at depth while the southern greisen zone remains totally untested to date.
The Company issued 1,000,000 common shares of the Company (“Consideration Shares”) and made a cash payment of $100,000. The Counterpart Shares will be subject to a voluntary lock-up agreement which provides that 50% of the Counterpart Shares will be subject to a 6 month hold period and 50% of the Counterpart Shares will be subject to a 12 month hold period.
Investor Relations Engagement
Electric Royalties also announces that it has retained Renmark Financial Communications Inc. to assist in its outreach and investor relations activities for a period of five months commencing June 1, 2022, and monthly thereafter. . In consideration of the services to be provided, a monthly fee of CA$9,000 will be incurred.
David Gaunt, P.Geo., a qualified person who is not independent of Electric Royalties, has reviewed and approved the technical information contained in this release.
About Electric Royalties Ltd..
Electric Royalties is a royalty company created to capitalize on demand for a wide range of products (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the push towards electrification of a variety of consumer products: cars, rechargeable batteries, large-scale energy storage, renewable energy generation and other applications.
Sales of electric vehicles, battery production capacity and renewable energy production are expected to increase significantly over the next few years and with them the demand for these targeted products. This creates a unique opportunity to invest and earn royalties from mines and projects that will provide the materials needed to power the electric revolution.
Electric Royalties has a growing portfolio of 19 royalties, including one that is currently generating revenue. The Company is primarily focused on acquiring late-stage project and mining royalties to build a diversified portfolio located in low geopolitical risk jurisdictions, which provides investors with exposure to the energy transition. clean through the underlying raw materials needed to rebuild the global infrastructure over the next few years. decades towards a low-carbon global economy.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulator or trading platform, accepts responsibility for the relevance or accuracy of this release.
Cautions Regarding Forward-Looking Information and Other Company Information
This press release contains forward-looking information and forward-looking statements (collectively, “forward-looking information”) about the Company within the meaning of Canadian securities laws. This press release contains information regarding other companies and projects owned by these other companies in which the Company holds a royalty, based on previously disclosed public information disclosed by these companies and the Company is not responsible for the accuracy of such information, and that all information provided in this document is subject to this cautionary note regarding forward-looking information and other information about the company.Forward-looking information is generally identified by words such as: believe, expect, anticipate, intend, estimate, assume 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 prospects and anticipated events and may include statements regarding financial results, future financial condition, expected cash flow growth, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities for the Company and the projects in which it holds royalty interests.
Although management considers these assumptions to be reasonable, based on the information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company or such projects to be materially different from any future results, performance or achievements expressed or implied. – understood by forward-looking statements. 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 favorable 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 such projects to implement their business strategies, including expansion plans; competition; currency and interest rate fluctuations and other risks.
The reader is invited to consult the most recent documents filed by the Company on SEDAR as well as other information filed with the over-the-counter markets for a more complete discussion of all the applicable risk factors and their potential effects, including copies can be viewed on the Company’s profile page at www.sedar.com and to otcmarkets.com.
THE SOURCE: Electric Royalties Ltd.
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