- Tartisan Nickel (TN) will grant a 0.5 per cent gross revenue royalty on the Kenbridge Nickel Project to Electric Royalties (ELEC)
- The company will acquire the GRR on six mining patents located on the Kenbridge Nickel Project for $500,000 in cash and 2,500,000 common shares of Electric Royalties Ltd.
- Electric Royalties will have the option to acquire a further 0.5 per cent GRR on the Kenbridge Nickel Project
- Brendan Yurik, CEO of Electric Royalties, sat down with Shoran Devi to discuss the news
- Electric Royalties is a royalty company
- Electric Royalties Ltd. (ELEC) opened trading at C$0.32
Tartisan Nickel (TN) will grant a 0.5 per cent gross revenue royalty on the Kenbridge Nickel Project to Electric Royalties (ELEC).
Electric Royalties will acquire the GRR on six mining patents located on the Tartisan’s wholly-owned Kenbridge Nickel Project in northwest Ontario for $500,000 in cash and 2,500,000 common shares of Electric Royalties Ltd.
The approximate market value of the Transaction, including shares and cash, is $1,350,000.
Electric Royalties will also have the option, for a period of 18 months after closing of the transaction, to acquire an additional 0.5 per cent GRR on the Kenbridge Nickel Project for C$1,750,000 in cash and a 1 per cent GRR on mining claims, mining leases and mineral tenures comprising the Kenbridge North Nickel Project located north of the Kenbridge Nickel Deposit for C$1,000,000 cash within 24 months from the date that Tartisan publishes an initial technical report for the project.
Brendan Yurik, CEO of Electric Royalties, sat down with Shoran Devi to discuss the news.
Electric Royalties has a growing portfolio of 20 royalties, including one royalty that currently generates revenue. Electric Royalties is focused predominantly on acquiring royalties on advanced-stage and operating projects to build a diversified portfolio.
Electric Royalties Ltd. (ELEC) opened trading at C$0.32.