Electric Royalties Closes Rana Nickel Royalty Acquisition

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[{"type":"text","content":"Electric Royalties Closes Rana Nickel Royalty AcquisitionVANCOUVER, BC / ACCESWIRE / January 27, 2022 / Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) (\"Electric Royalties\" or the \"Company\") is pleased to announce closing of the previously announced Rana Nickel Royalty acquisition (see news releases dated October 19, 2021 and December 16, 2021) with Scandinavian Resource Holdings (\"SRH\") and Global Energy Metals Corp. (\"GEMC\") to acquire a 1% net smelter revenue royalty on the Rana nickel project (the \"Rana Project\" or \"Rana\"). The Rana Project comprises four exploration licenses totaling 25 square kilometers in the Råna mafic-ultramafic intrusion in Northern Norway, including the past producing Bruvann Nickel mine.The Company has issued 1,800,000 common shares of the Company (\"Consideration Shares\") to Casper Peterson, Jeroen Van Gool, Martin Blakeman and Winton Willesee (as nominees for SRH) and made a cash payment of $90,000 to SRH, issued 200,000 Consideration Shares to GEMC and made a cash payment of $10,000 to GEMC. The Consideration Shares will be subject to a voluntary escrow lock-up agreement which provides that 50% of the common shares will be subject to a hold period of 4 months and one day, 25% for 8 months and the remaining 25% for 12 months. The transaction remains subject to customary closing conditions including TSX-V approval.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, zinc & 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 growing portfolio of 18 royalties, including one royalty that currently generates revenue. The Company is focused predominantly on acquiring royalties on advance...

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