Electric Royalties Ltd. (TSE:ELEC) has released an update.
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Electric Royalties Ltd. has renegotiated the terms of acquisition for a significant lithium royalty and option portfolio, reducing the cash acquisition cost by C$2.5 million to C$1.975 million. The deal includes 22 existing royalties and options on 36 lithium properties, which are expected to generate revenue and potentially convert to royalties, enhancing the company’s portfolio amidst growing lithium demand. This strategic move strengthens Electric Royalties’ position in the clean energy sector, with Ontario’s advantageous mining conditions poised to support lithium supply.
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