on Electric Royalties Ltd. (CVE:ELEC)
Electric Royalties Announces Convertible Credit Facility Interest Conversion
Electric Royalties Ltd., a Vancouver-based royalty company, announced a significant move concerning its convertible credit facility. Gleason & Sons LLC, the lender, has elected to convert C$420,000 of accrued interest into 3,000,000 common shares of Electric Royalties at a conversion price of C$0.14 per share. This conversion, subject to TSX Venture Exchange approval, effectively eliminates accrued interest to date.
The CEO of Electric Royalties, Brendan Yurik, expressed satisfaction with the ongoing support from their largest shareholder, Stefan Gleason. Looking forward to 2026, the company anticipates growing cash flows from its Punitaqui copper mine and new investments in its Middle Tennessee Zinc royalty.
The share conversion is classified as a "Shares for Debt" transaction and awaits regulatory approval. Additionally, the company has granted 700,000 stock options to certain consultants.
R. E.
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