VANCOUVER, BC / ACCESSWIRE / August 26, 2022 / Electric Royalties Ltd. (TSXV:ELEC) (OTCQB:ELECF) (“Electric Royalties” or the “Company”) wishes to inform the market of the termination of the previously announced agreement, signed on June 27, 2022, to sell 1% of its existing Net Smelter Royalty (“NSR”) of 1.5% on the Seymour Lake lithium deposit in Ontario, Canada to Lithium Royalty Corp. (“LRC”). LRC has informed the Company that it is not prepared to waive certain closing conditions set forth in the Agreement and the Company accepts LRC’s position that the Agreement has been terminated. Accordingly, Electric Royalties will retain its 1.5% NSR on the Seymour Lake lithium deposit.

Brendan Yurik, CEO of Electric Royalties, commented: “An estimate doubling the mineral resource since the first LOI was signed¹ at Seymour Lake has been announced. In addition, the price of lithium carbonate in China has approached an all-time high at more than $70,000 per ton². Those factors coupled with the fact that the property owner has just raised A$55m³ on further development at Seymour Lake mean that we are pleased to retain our full 1.5% NSR.”

About Electric Royalties Ltd.

Electric Royalties is a licensing company formed to capitalize on demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that benefit from the electrification of a variety of commodities become consumer products: automobiles, rechargeable batteries, large-scale energy storage, renewable energy generation and other applications.

Sales of electric vehicles, battery production capacity and the generation of renewable energies are expected to increase significantly in the coming years, and with them the demand for these target products. This creates a unique opportunity to invest and earn royalties in the mines and projects that will provide the materials needed for the electric revolution.

Electric Royalties has a growing portfolio…