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Electric Royalties to Acquire 1% NSR on Cancet Lithium Project in All-Shares Transaction
Electric Royalties to Acquire 1% NSR on Cancet Lithium Project in All-Shares Transaction ...
About this update from Electric Royalties Ltd.
[{"type":"text","content":"\n \n \n \n Electric Royalties to Acquire 1% NSR on Cancet Lithium Project in All-Shares Transaction\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 Sept. 8, 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 the signing of two royalty purchase and sale agreements to acquire, in the aggregate, a 1% Net Smelter Royalty (the \"1% NSR\") on licenses comprising core strategic tenure at the Cancet Lithium Project situated in\n \n Quebec, Canada\n \n (the \"Cancet Project\" or \"Cancet\"), such transactions being with arm's-length parties.\n \n \n \n \n \n \n \n \n \n \"We are pleased to add the Cancet lithium royalty to our portfolio of high-impact hardrock lithium royalties on projects securely located in\n \n Eastern Canada\n \n .  MetalsTech Limited, the Australian-listed developer of the Cancet Project, has had significant corporate success advancing the asset including a recent royalty financing with the privately-held Lithium Royalty Corp., and a recent announcement to spin out their portfolio of lithium assets (which includes the Cancet Project) into a new company, Winsome Resources Limited. MetalsTech has also appointed Canaccord Genuity (\n \n Australia\n \n ) as lead manager for up to an\n \n A$18 million\n \n financing as relates to the proposed spin-out transaction of their lithium assets.\n \n \n The Cancet Project is favourably located in the heart of Plan Nord, an area in which the\n \n Quebec\n \n government is fostering resource development, including the next generation of battery metal deposits.  Cancet is located adjacent to the Taiga Highway and would have access to abundant hydropower which could provide clean power for any eventual mining operation. Initial work suggests that the mineralization at Cancet compares very favorably with other deposits in the region. At Electric Royalties, we expect the project to advance toward a resource with additional drilling over the next several yea...