Gleason & Sons Advances Funding for Electric Royalties' Copper Project Acquisition

Gleason & Sons LLC has funded C$3,050,000 to Electric Royalties Ltd. for acquiring a 0.75% gross revenue royalty on the Punitaqui copper project in Chile. This strategic investment is set to close pending TSX Venture Exchange approval. Stefan Gleason, managing director, lauds Electric Royalties’ ability to expand its royalty portfolio, which now includes 41 royalties and 29 properties.

Electric Royalties is not yet cash flow positive, but aims to achieve this by 2025 through its new copper royalty acquisition and diverse portfolio. Gleason highlights potential catalysts in projects like Seymour Lake and Mont Sorcier. The debt facility from Gleason & Sons totals C$10 million, carries an interest rate of SOFR plus 7%, and allows for deferred payments until January 2028.