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ELECTRIC ROYALTIES CLOSES $3.45 MILLION MARKETED PUBLIC OFFERING
ELECTRIC ROYALTIES CLOSES $3.45 MILLION MARKETED PUBLIC OFFERING Canada NewsWir...
About this update from Electric Royalties Ltd.
[{"type":"text","content":"\n \n \n \n ELECTRIC ROYALTIES CLOSES $3.45 MILLION MARKETED PUBLIC OFFERING\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE\n \n \n \n UNITED STATES\n \n ./\n \n \n \n \n All amounts in Canadian dollars unless otherwise stated\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n May 12, 2022\n \n \n /CNW/ -\n \n May 12, 2022\n \n – Electric Royalties Ltd. (TSXV: ELEC) (OTCQB: ELECF) (\"Electric Royalties\" or the \"Company\") is pleased to announce the closing of its previously announced marketed public offering (the \"Offering\") pursuant to which the Company issued 11,500,000 units of the Company (the \"Units\") at a price of\n \n $0.30\n \n per Unit (the \"Offering Price\") for aggregate gross proceeds of\n \n $3,450,000\n \n , including 1,500,000 Units issued at the Offering Price for gross proceeds of\n \n $450,000\n \n in connection with the full exercise of the over-allotment option granted to the Agents (as defined below) under the Offering. Each Unit is comprised of one common share in the capital of the Company (each a \"Common Share\") and one Common Share purchase warrant (each a \"Warrant\"). Each Warrant can be exercised for one Common Share at an exercise price of\n \n $0.45\n \n per Warrant Share for a period of 36 months following the closing of the Offering, subject to adjustments in certain circumstances.\n \n \n \n \n \n \n \n \n \n Canaccord Genuity Corp. acted as the lead agent and sole bookrunner of the Offering, with PI Financial Corp. and Research Capital Corporation also acting as agents (collectively, the \"Agents\").\n \n \n The Offering was conducted pursuant to a prospectus supplement dated\n \n May 5, 2022\n \n (the \"Prospectus Supplement\") to the Company's short form base shelf prospectus dated\n \n February 28, 2022\n \n filed with the securities commissions and other similar regulatory authorities in each of the provinces of\n \n Canada\n \n , except\n \n Quebec\n \n . The Offerin...