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Electric Royalties Signs LOI to Acquire 2 Graphite Royalties From Vox Royalty
Electric Royalties Signs LOI to Acquire 2 Graphite Royalties From Vox Royalty C...
About this update from Electric Royalties Ltd.
[{"type":"text","content":"\n \n \n \n Electric Royalties Signs LOI to Acquire 2 Graphite Royalties From Vox Royalty\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n May 18, 2021\n \n /CNW/ -\n \n Electric Royalties Ltd.\n \n (TSXV: ELEC)\n \n (\"Electric Royalties\" or the \"Company\")\n \n is pleased to announce that it has entered into a non-binding letter of intent with Vox Royalty Corp. (TSXV: VOX) (\"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 (\"Graphmada\"), located in\n \n Madagascar\n \n and operated by ASX-listed Bass Metals Ltd (\"Bass Metals\"), and a 0.75% Gross Revenue Royalty on the Yalbra Graphite Project (\"Yalbra\"), located in\n \n Western Australia\n \n with an established high-grade graphite resource. Total consideration for the acquisition is\n \n C$2,850,000\n \n in shares of Electric Royalties and a\n \n C$50,000\n \n cash non-refundable exclusivity payment.\n \n \n \n \n \n \n \n \n \n \n Transaction Highlights\n \n \n \n \n Exposure to near-term graphite production at Graphmada:\n \n \n \n existing process plant capable of producing 6,000 tpa of large flake graphite concentrate;\n \n \n in operation for 20 continuous months producing concentrates comprised of more than 43% large to jumbo flake graphite but currently on temporary care and maintenance due to in-country Covid restrictions; and\n \n \n currently the subject of a drilling campaign and mining studies to increase future mine production through organic growth and plant upgrades.\n \n \n \n Exposure to a high-grade graphite resource in\n \n Western Australia\n \n with exploration upside at Yalbra.\n \n \n \n The Graphmada royalty is capped at the earlier of\n \n A$5 million\n \n royalty revenues and\n \n December 31, 2028\n \n .\n \n \n Ongoing partnership with Vox Royalty Corp:\n \n \n \n \n Vox is a high growth precious metals royalty and streaming company with a portfolio of 50 royalties and s...