Electric Royalties closes acquisition of cash-flowing royalty from Globex Mining
Date Closed
August 11, 2021
Lead Office
Vancouver
Value
13.75 Million USD
On August 11, 2021, Electric Royalties Ltd. completed its acquisition from Globex Mining Enterprises Inc. of 25% of an existing sliding-scale, gross metal royalty on zinc production at the operating Middle Tennessee Mine, located in Smith County, Tennessee. The royalty was acquired on a 100% basis by Electric Royalties (as to 25%) and Sprott Resource Streaming and Royalty Corp. (as to 75%) as co-investors. Electric Royalties Ltd. also acquired 100% of a new 1% gross revenue royalty on the Glassville manganese project, located in New Brunswick, Canada, from Globex Mining Enterprises Inc.
Electric Royalties Ltd. is a royalty company set to take advantage of the demand for a wide range of commodities that will benefit from the drive to electrification.
McCarthy Tétrault advised Electric Royalties Ltd. with a team led by Roger Taplin that included Patrick Deutscher, Robin Mahood, Xinya Wang and Dinah Holliday.
