The latest update is out from Electric Royalties ( (TSE:ELEC) ).
Electric Royalties Ltd. announced that Gleason & Sons LLC has opted to convert C$428,540.40 of accrued interest under the company’s convertible credit facility into 3,174,373 common shares at C$0.135 per share. This transaction, pending approval from the TSX Venture Exchange, is structured as a ‘Shares for Debt’ agreement under TSXV policies. The conversion reflects the company’s ongoing financial strategies and could impact its equity structure, highlighting its adaptability in managing financial obligations and reinforcing its market position in the evolving electrification sector.
More about Electric Royalties
Electric Royalties Ltd. is a royalty company capitalizing on the demand for a range of commodities such as lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc, and copper, which are crucial for the electrification of consumer products. The company has a portfolio of 42 royalties in these commodities, focusing on acquiring royalties on advanced stage and operating projects in low geopolitical risk jurisdictions. This positions the company to benefit from the clean energy transition and the global shift towards a decarbonized economy.
YTD Price Performance: -18.33%
Average Trading Volume: 37,508
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $11.12M
See more data about ELEC stock on TipRanks’ Stock Analysis page.