Electric Royalties Converts Interest into Common Shares

Electric Royalties Ltd. announced that it has agreed to a conversion of accrued interest into common shares. The company revealed that Gleason & Sons LLC elected to convert C$428,540.40 of accrued interest from the convertible credit facility into 3,174,373 common shares. The conversion rate is set at C$0.135 per share.

This transaction, classified as "Shares for Debt," requires approval from the TSX Venture Exchange. Post-approval, the common shares will be subject to resale restrictions under Canadian and U.S. securities laws. The conversion does not trigger related party transaction rules under Multilateral Instrument 61-101.

The completion of this conversion is anticipated to enhance Electric Royalties' financial standing as it continues to expand its portfolio across key commodities vital to electrification, including lithium and graphite.