Electric Royalties Ltd. (TSX-V: ELEC) is pleased to announce that it has entered into a non-binding letter of intent with Vox Royalty Corp. (TSX-V: VOX) to acquire a portfolio of two graphite royalties from Vox. The portfolio consists of a 2.5% gross concentrate sales royalty on graphite production at the Graphmada Graphite Mining Complex located in Madagascar and operated by ASX-listed Bass Metals Ltd and a 0.75% Gross Revenue Royalty on the Yalbra Graphite Project, located in Western Australia with an established high-grade graphite resource. Total consideration for the acquisition is C$2,850,000 in shares of Electric Royalties and a C$50,000 cash nonrefundable exclusivity payment.
The Graphmada royalty is capped at the earlier of A$5 million royalty revenues and December 31, 2028.
Ongoing partnership with Vox Royalty Corp:
Brendan Yurik, CEO of Electric Royalties, commented: “We are excited to partner with Vox Royalty Corp. through this initial transaction which provides Electric Royalties with another near-term cash flowing royalty opportunity at Graphmada and we look forward to working with the Vox team to acquire additional battery metal royalties moving forward.”
About Electric Royalties Ltd.
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel & copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to feed the electric revolution.
Electric Royalties has a portfolio of 12 royalties with 4 additional royalties currently under contract, subject to completion. Electric Royalties plans to focus predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk.
About Vox Royalty Corp.
Vox is a growth precious metals royalty and streaming company with a portfolio of 50 royalties and streams spanning nine jurisdictions. The Company was established in 2014 and has since built unique intellectual property, a technically focused transactional team and a global sourcing network which has allowed Vox to become the fastest growing company in the royalty sector. Since the beginning of 2019, Vox has announced over 20 separate transactions to acquire over 45 royalties.
Highlights: Assay results from the first four drillholes continue... READ MORE
385 g/t Au Over 2.1 Metres 45.5 g/t Au over 4.1 Metres Osi... READ MORE
Amarillo Gold Corporation (TSX-V: AGC) (OTCQB: AGCBF), through i... READ MORE
New Found Gold Corp. (TSX-V: NFG) (OTC: NFGFF) is pleased to a... READ MORE
KEY HIGHLIGHTS Nickel-copper continuity confirmed along 350-meter... READ MORE