Electric Royalties Closes Private Placements Raising Over C$2.5 Million

Electric Royalties Ltd. has successfully completed its brokered private placement, initially announced in December 2024. The company sold 12,248,235 units at C$0.18 per unit, generating C$2,204,682. Canaccord Genuity Corp. and Red Cloud Securities Inc. acted as agents in this offering.

Additionally, a non-brokered private placement with Globex Mining Enterprises Inc. raised C$300,000, selling 1,666,667 units at the same price. Combined, the transactions brought total gross proceeds to C$2,504,682.

Proceeds are earmarked for corporate needs, including a C$450,000 payment for a royalty acquisition in Chile. The placements saw significant participation from existing shareholders and insiders, involving transactions exempt from valuation and shareholder approval under specific regulations.