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Electric Royalties Insider Files Another Early Warning Report
CHARLOTTE, NC / ACCESSWIRE / June 21, 2024 / Stefan Gleason (the "Acquiror" or "Gleason") today ...
About this update from Electric Royalties Ltd.
[{"type":"text","content":"Electric Royalties Insider Files Another Early Warning ReportCHARLOTTE, NC / ACCESSWIRE / June 21, 2024 / Stefan Gleason (the \"Acquiror\" or \"Gleason\") today announced that he is filing an early warning report in connection with his acquisition of additional shares of Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) (\"Electric Royalties\" or the \"Company\").After acquiring 2,753,220 Electric Royalties shares via a conversion of C$578,176.37 in loan interest owed by the Company to Gleason & Sons LLC, Gleason now beneficially owns or has control or direction over 28% of the Company's issued and outstanding common shares.\"I am pleased to continue the process of acquiring shares in this remarkably undervalued battery metals royalty company via open market purchases, private agreements, and interest conversions,\" said Gleason. \"The Company's overhead remains super low, and its overall asset count has recently more than tripled to 72 (including 40 royalties) across nine targeted metals,\" said Gleason.On June 20, 2024, Acquiror received 2,753,220 shares (acquired via a previously announced at-market interest conversion, conditioned on TSX approval, at a cost of C$578,176.37, or C$0.21 per share). Prior to May 20 the Acquiror held an aggregate of 25,746,404 Common Shares, representing 26.05% of the issued and outstanding Shares on an as converted and partially diluted basis. After the acquisition on June 20, the Acquiror held 28,499,624 Common Shares, or 28.05% of the issued and outstanding Shares on an as converted and partially diluted basis.On May 30, the Acquiror previously filed a report under the early warning reporting rules of Canadian securities laws, disclosing that he beneficially owned or had control or direction over 25,746,404 Common Shares, at the time representing 26.05% of the Company's issued and outstanding Shares on an as converted and partially diluted basis. The Acquiror is filing this latest early warning report because he has now accumulated more than 2% of the Company's issued and outstanding Shares since his prior filing on May 30, 2024.This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid...