Electric Royalties Acquires Copper Stream from Minera Cobre Verde

Vancouver-based Electric Royalties Ltd. (TSXV:ELEC) has signed a binding agreement to acquire a copper stream from Minera Cobre Verde (MCV), located in the Antofagasta Region of Chile. The total consideration amounts to $2.1 million USD, giving Electric Royalties the right to purchase 76,000 pounds of copper monthly at $2.75 per pound for four years.

The agreement allows for the potential increase of the copper stream by an additional 76,000 pounds per month, should Electric Royalties add an extra $2.1 million USD within 30 days of closing. This acquisition is expected to boost the company’s revenue and cash flow significantly.

This transaction aligns with Electric Royalties' strategy to generate immediate cash flow while their portfolio royalties mature. The copper stream payments will be settled in cash and are not linked to the actual production levels at the MCV Mine.

The MCV Mine, acquired in 2023, has facilities capable of producing 10,000 tonnes of copper annually. Electric Royalties may also syndicate the transaction to secure financing. The deal is pending due diligence and necessary approvals from the TSX Venture Exchange.