Electric Royalties Amends Offering Terms for Private Placement

Electric Royalties Ltd. has announced the filing of an amended offering document dated December 27, 2024. The document is related to its ongoing brokered private placement of up to 22,222,223 units, with potential gross proceeds nearing $4 million. The offering, reportedly closing by January 9, 2025, is led by Canaccord Genuity Corp. and Red Cloud Securities Inc.

Each unit, priced at C$0.18, comprises one common share and a purchase warrant. The warrant allows the purchase of an additional share at C$0.25, valid for two years post-offering. A new condition mandates a minimum of $1,500,000 in proceeds to ensure compliance with Canadian financing exemptions.

Eligible investors in Canada and other jurisdictions can participate, barring Québec residents. These securities will not face a holding period due to the listed issuer financing exemption. Approval from relevant authorities, including the TSX Venture Exchange, remains pivotal for completion.