Electric Royalties Provides Update on Eight Royalties in Portfolio

About this update from Electric Royalties Ltd.

[{"type":"text","content":"Electric Royalties Provides Update on Eight Royalties in PortfolioVANCOUVER, BC / ACCESSWIRE / August 15, 2023 / Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) (\"Electric Royalties\" or the \"Company\") is pleased to provide the following update on its royalty portfolio.Brendan Yurik, CEO of Electric Royalties, commented: \"Significant ongoing progress is being made across our portfolio, culminating in this sixth consecutive update containing at least seven new developments in our 22-royalty portfolio.\"We're pleased to note the UK Export Credit Agency's interest in providing $420 million towards construction financing for the Mont Sorcier iron and vanadium project. We commend project operator Cerrado Gold in pursuing project financing for Mont Sorcier, demonstrating its commitment to completing the feasibility study and advancing the project towards a production decision, together with its partner Glencore.\"We're also excited about the first modern exploration program being conducted at the Råna nickel project, particularly at its past-producing mine located in a prospective district. Electric Royalties is well positioned to leverage the clean energy revolution, which is well underway, with positive developments across our royalty portfolio, including the upcoming preliminary economic assessment for the Seymour Lake lithium project and solid metallurgy results at the Graphite Bull graphite project.\"Highlights since the Company's previous update on June 28, 2023:Mont Sorcier Iron and Vanadium Project (1.0% Gross Metal Royalty) - On July 5, 2023, Cerrado Gold Inc. (TSXV: CERT) (\"Cerrado\") announced its acceptance of an Expression of Interest (\"EOI\") from the UK Export Credit Agency (\"UKEF\") to provide up to US$420 million of support for the Mont Sorcier Project near Chibougamau, Quebec, an amount representing 70% of total capital expenditure, interest payable during construction, political risk insurance premium and other approved expenditures. UKEF's engagement with the opportunity is at an early stage. UKEF's EOI is not a legally binding commitment and is subject to a series of standard project finance terms and due diligence.Råna Nickel-Copper-Cobalt Project (1.0% Net Smelter Royalty) - On July 6, 2023, Global Energy Metals Corporation (TSXV: GEMC) (\"Global Energy Metals\") and its strategic partner Kings...

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