Electric Royalties (TSE:ELEC) has released an update.
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Electric Royalties Ltd. has announced that Gleason & Sons LLC will convert over half a million Canadian dollars of accrued interest into equity, issuing 2,753,220 new common shares at C$0.21 each, pending TSX Venture Exchange approval. This debt-to-equity swap enhances Electric Royalties’ financial position as the company continues to capitalize on the growing demand for commodities essential to the electric vehicle and renewable energy sectors. Electric Royalties boasts a portfolio of 40 royalties worldwide and has interests in 32 lithium properties in Ontario, Canada, aligning with the accelerating transition to clean energy.
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