ELEC:CC - Electric Royalties increases portfolio with acquisition of 126 lithium properties in Eastern Canada
--News Direct--
Electric Royalties CEO Brendan Yurik joined Steve Darling from Proactive to share details regarding the company's Letter of Intent to acquire a portfolio of lithium properties.
The portfolio comprises 126 lithium properties covering over 1,000,000 acres of highly prospective lithium prospects in Eastern Canada. This region is located close to the U.S. battery belt, making it a key area for producing clean energy metals.
Yurik explained that 101 of the 126 properties have been optioned to various companies under a royalty prospect-generation model. Under this model, exploration companies make cash payments to the royalty prospector, generating near-term cash flow while retaining long-term upside through royalties on those assets.
Electric Royalties expects the portfolio of properties to yield option payments of approximately $1.4 million in 2024, $2 million in 2025, and $2.7 million in 2026, totaling approximately C$6 million over the next three years, subject to the optioned properties remaining optioned.
This strategic move positions Electric Royalties to benefit from the growing demand for lithium in the clean energy sector, particularly in the eastern region of Canada, which is poised to become a center for clean energy metals production in the coming decades.
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