Principal of Major U.S. Precious Metals Firm Assumes 19.9% Stake in Electric Royalties

CHARLOTTE, NC / ACCESSWIRE / April 10, 2023 / Stefan Gleason (the "Acquiror" or "Gleason") today announced that he is filing an early warning report in connection with his acquisition on the open market of additional shares of Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company").

The Acquirer now beneficially owns or has control or direction over approximately 19.95% of the Company's issued and outstanding shares (on an as converted and partially diluted basis).

Stefan Gleason is a Charlotte-based entrepreneur who owns and leads several privately held businesses in the United States, including Money Metals Exchange LLC. Money Metals is one of the largest precious metals dealers and depositories in North America with 500,000 customers and approximately $1 billion in annual revenues.

"Electric Royalties already holds 21 royalties and several options across its nine target battery metals, with two royalties currently in production, one expected to begin production this quarter, and additional assets expected to begin producing cash flow in 2023 and 2024," said Gleason.

"I believe Electric Royalties offers an extremely compelling value proposition at its current market capitalization, as confirmed by independent analyst coverage. As the Company noted last week, roughly $520 million is being invested to advance these royalty assets at no cost to Electric Royalties, and I am confident the Company's management team can add additional cash-flowing royalties to the portfolio without issuing new shares," Gleason continued.

To that end, the Acquiror's family office, Gleason & Sons LLC, announced on January 25 it closed on a non-dilutive credit facility with an initial loan limit of C$2,000,000 to fund the Company's acquisition of new producing royalties, with additional credit capacity available to the Company if requested.

On April 6, 2023, Acquiror purchased 580,400 Company shares via the OTCQB (at a cost of C$220,552, or an average of $0.38 per share). Prior to April 6, the Acquiror held an aggregate of 17,791,633 Common Shares and 500,000 Warrant Shares, representing 19.335% of the issued and outstanding Shares on an as converted and partially diluted basis. After the purchases on April 6, the Acquiror held 18,372,033 Common Shares and 500,000 Warrant shares, or 19.949% of the issued and outstanding Shares on an as converted and partially diluted basis.

On December 5, 2022, the Acquiror previously filed a report under the early warning reporting rules of Canadian securities laws, disclosing that he beneficially owned or had control or direction over 16,011,593 Common Shares and 500,000 Warrant shares, at the time representing 17.547% of the Company's issued and outstanding Shares on an as converted and partially diluted basis. The Acquiror is filing this latest early warning report because he has now accumulated more than 2% of the Company's issued and outstanding Shares since his prior filing on December 5, 2022.

This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the Early Warning Report will be filed at www.sedar.com.

For further information, contact:
Stefan Gleason
Gleason & Sons LLC
15720 Brixham Hill Avenue, #205
Charlotte, NC 28277
Tel: 208-577-2230
Email: Stefan.Gleason@GleasonSons.com
http://www.gleasonsons.com/

This release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address anticipated future events are forward-looking statements. Although the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements.

SOURCE: Gleason & Sons LLC