Electric Royalties to Acquire 0.5% Gross Revenue Royalty on Kenbridge Nickel Project in Ontario, Canada

About this update from Electric Royalties Ltd.

[{"type":"text","content":"Electric Royalties to Acquire 0.5% Gross Revenue Royalty on Kenbridge Nickel Project in Ontario, CanadaVANCOUVER, BC / ACCESSWIRE / March 6, 2023 / Electric Royalties Ltd. (TSXV:ELEC) (OTCQB:ELECF) (\"Electric Royalties\" or the \"Company\") is pleased to announce the signing of a binding letter agreement with Tartisan Nickel Corp. (CSE: TN) (\"Tartisan\") to acquire a 0.5% gross revenue royalty (\"GRR\") on certain mining claims, mining leases and mineral tenures comprising the wholly-owned Kenbridge Nickel Project in northwest Ontario, Canada (the \"Kenbridge Project\" or \"Kenbridge\") in exchange for C$500,000 cash and 2,500,000 common shares of the Company (the \"Transaction\"). The Company will also have the right, for a period of 18 months after closing of the Transaction, to acquire a further 0.5% GRR on the Kenbridge Project for C$1,750,000 cash consideration. In addition, the Company will have an option to acquire a 1% GRR on the mining claims, mining leases and mineral tenures comprising the Kenbridge North Nickel Project (the \"Kenbridge North Project\" or \"Kenbridge North\"), approximately 2.5 km north of the Kenbridge Nickel Deposit, for C$1,000,000 cash, at any time during a period of 24 months from the date that Tartisan publishes an initial technical report in respect of the Kenbridge North Project which is prepared in accordance with National Instrument 43-101 and which contains an estimate of Inferred Mineral Resources.The Transaction noted herein is subject to completion of due diligence, approval of the TSX Venture Exchange and other customary conditions.Brendan Yurik, CEO of Electric Royalties commented, \"We're excited to partner with Tartisan Nickel on advancing the Kenbridge nickel-copper-cobalt project in Ontario. The Kenbridge deposit has been well drilled since discovery and though never previously mined, has seen extensive underground development by previous owners. Tartisan has recently released a mineral resource estimate and preliminary economic assessment on Kenbridge which describes a project that could be a profitable underground development.\"We believe there is a lot of optionality and upside to Kenbridge as the exploration potential at depth is exciting. If the deposit's depth potential is realized, there could be a meaningful extension to the potential life-of-mine. Furthermore, the Kenbri...

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