Electric Royalties Announces Interest Conversion Under Convertible Credit Facility

Vancouver, BC / ACCESSWIRE / August 28, 2024 - Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) has reported that Gleason & Sons LLC will convert C$217,479.02 of accrued interest into 1,279,288 common shares. The conversion price is set at C$0.17 per share, with the process expected to complete by September 2024, pending TSX Venture Exchange approval.

This transaction, classified under Policy 4.3 of the TSX Venture Exchange, allows the settlement of interest through the issuance of common shares. These shares will come with resale restrictions as per Canadian and U.S. securities laws, lasting four months and one day, and six months, respectively.

Regulations concerning "related party transactions" as per TSXV Policy 5.9 and Multilateral Instrument 61-101 do not apply due to certain exemptions.