Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) has announced an updated agreement with 1544230 Ontario Inc., MK Exploration Services Inc., and Gravel Ridge Resources Ltd. to expand its lithium royalties and option portfolio in Ontario, Canada.

Amended Agreement Details

The company will acquire 22 royalties and 36 lithium properties, significantly reducing the cash acquisition cost by about C$2.5 million to C$1.975 million. Planned option payments are expected to generate meaningful revenue.

CEO Comments on Lithium Market Dynamics

CEO Brendan Yurik expressed optimism about the long-term demand for lithium, fueled by the electric vehicle and renewable energy sectors. He highlighted Ontario’s potential as a key lithium supplier.

Expanding Royalty Portfolio

With the completion of this transaction, Electric Royalties’ portfolio will grow to 44 royalties, with a trajectory towards 80. The company is strongly positioned in the clean energy transition.

Transaction Terms and Conditions

The updated terms include issuing 2,250,000 common shares and a structured cash payment. The closing is conditional on due diligence, board and regulatory approvals.

About Electric Royalties Ltd.

Electric Royalties focuses on commodities essential for electrification, including lithium. It holds a growing portfolio, aiming to fuel the electric revolution through strategic royalty investments.

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