Electric Royalties Announces Conversion of Interest into Shares

Electric Royalties Ltd. has revealed that Gleason & Sons LLC, a major shareholder, will convert C$536,500 of accrued interest from its convertible credit facility into 3.7 million common shares. The conversion price is set at C$0.145 per share. This move is under an amended agreement from February 2024 and awaits TSX Venture Exchange approval, anticipated in August 2025.

CEO Brendan Yurik sees this as a positive step. He expressed gratitude for shareholder support as the company develops its portfolio of 43 royalties, including the Punitaqui copper mine in Chile. The transaction will be classified as Shares for Debt under TSXV Policy 4.3, with shares subject to resale restrictions per Canadian and U.S. securities laws.

The transaction doesn’t trigger related party transaction requirements due to exemptions under MI 61-101. All developments remain contingent on TSX Venture Exchange acceptance.