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ELECTRIC ROYALTIES SIGNS RANA NICKEL ROYALTY PURCHASE AGREEMENT
ELECTRIC ROYALTIES SIGNS RANA NICKEL ROYALTY PURCHASE AGREEMENT Canada NewsWire...
About this update from Electric Royalties Ltd.
[{"type":"text","content":"\n \n \n \n ELECTRIC ROYALTIES SIGNS RANA NICKEL ROYALTY PURCHASE AGREEMENT\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.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnbcc{\nBORDER-TOP-COLOR:; BORDER-COLLAPSE: COLLAPSE; BORDER-LEFT-COLOR:; BORDER-BOTTOM-COLOR:; BORDER-RIGHT-COLOR:\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n \n \n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Dec. 16, 2021\n \n /CNW/ -\n \n Electric Royalties Ltd.\n \n (TSXV: ELEC) (OTCQB: ELECF)\n \n (\"Electric Royalties\" or the \"Company\")\n \n is pleased to announce the signature of the definitive purchase agreement of the previously announced\n \n Rana Nickel Royalty\n \n acquisition (see news release dated\n \n October 19, 2021\n \n ) with Scandinavian Resource Holdings (\"SRH\") and Global Energy Metals Corp. (TSX-V: GEMC) to acquire a 1% net smelter revenue royalty on four exploration licenses totaling 25 square kilometers in the Råna mafic-ultramafic intrusion in\n \n Northern Norway\n \n , including the past producing Bruvann Nickel mine (the \"Rana Nickel Project\" or \"Rana\").  The Company will issue a total consideration of 2,000,000 common shares of the Company (\"Consideration Shares\") and\n \n $100,000\n \n cash. 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.\n \n \n \n Rana Nickel Royalty Acquisition Highlights\n \n \n \n \n The Rana Nickel Project is located on the Ofoten Fjord in\n \n Northern Norway\n \n which is ice-free year-round. The area is well serviced by the country's main highway and benefits from nearby international airport facilities.\n \n \n The project includes the past producing Bruvann Ni-Cu-Co mine which was in production from 1989 ...