Date Closed

May 12, 2022

Lead Office

Vancouver

Value

3.45 Million CAD

On May 12, 2022, Electric Royalties Ltd. (the "Company") announced the closing of its previously announced marketed public offering (the "Offering") pursuant to which the Company issued 11,500,000 units of the Company (the "Units") at a price of $0.30 per Unit (the "Offering Price") for aggregate gross proceeds of $3,450,000, including 1,500,000 Units issued at the Offering Price for gross proceeds of $450,000 in connection with the full exercise of the over-allotment option granted to the Agents under the Offering.  The Company intends to use the net proceeds from the Offering for funding potential future acquisitions of royalties and other interests, targeting commodities that enable the clean energy transition, such as lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper, as well as for working capital and general corporate purposes.

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.

McCarthy Tétrault LLP advised Electric Royalties Ltd. with a team led by Robin Mahood that included Gerald Gaunt, Simran Choongh and Kyle Riddell (Business).