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Electric Royalties Ltd. (ELECF)

Other OTC - Other OTC Delayed Price. Currency in USD
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0.3720+0.0051 (+1.39%)
At close: 3:47PM EDT
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Neutralpattern detected
Previous Close0.3669
Open0.4000
BidN/A x N/A
AskN/A x N/A
Day's Range0.3720 - 0.4500
52 Week Range0.1655 - 0.4500
Volume262,312
Avg. Volume35,461
Market Cap19.553M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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      Globex: Update on Zinc Royalty Sale

      ROUYN-NORANDA, Quebec, May 26, 2021 (GLOBE NEWSWIRE) -- GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, L&S Exchange, TTM Zone, Stock Exchanges and GLBXF – OTCQX International in the US) is pleased to inform shareholders that it has received notice from Electric Royalties Ltd. (ELEC-TSXV) that it has entered into a revised letter of intent (LOI) with Sprott Resource Streaming and Royalty (Sprott) regarding Electric Royalties’ and Sprott’s engagement to purchase Globex’s Mid-Tennessee zinc royalty. In order to facilitate completion of the purchase, Globex has agreed to several changes to the terms of the purchase agreement as outlined below: Cash payment: Under the revised agreement, Globex will receive an additional $500,000 for a total of $13,750,000 of which $250,000 has already been paid.Share payment: Under the revised agreement, Globex will receive 9,000,000 Electric Royalty shares and 5,500,000 four-year warrants with an exercise price of $0.60 per share. Under an acceleration clause, after 2 years, should the Electric Royalties share price exceed $1.00 for 10 consecutive days, Globex must exercise 2,750,000 warrants at $0.60 per share. Likewise, after 3 year, should the Electric Royalties share price exceed $1.50 for 10 consecutive days, Globex must exercise 2,750,000 warrants at $0.60 per share. Under the revised agreement, Globex will, excluding warrants to be exercised at a later date, have slightly less than a 20% shareholder stake in Electric Royalties and thus, shareholder approval will not be required for the transaction. The closing date of the transaction has been extended 21 days in order to get required approvals and final legal documents but it is expected that the sale of Globex’s Mid-Tennessee zinc royalty will be completed before that date as Sprott has now committed to the entire cash portion of the purchase price (see Electric Royalties/Sprott press release of today’s date). Globex is pleased with Electric Royalties’ progress toward closing the purchase transaction. At closing, Globex expects to have over $27,500,000 in cash and shares of other listed companies as well as the 5,500,000 Electric Royalties warrants. In addition, Globex is working to complete several other transactions which, if finalized, will generate additional revenue for the company. This press release was written by Jack Stoch, Geo., President and CEO of Globex. We Seek Safe Harbour. Foreign Private Issuer 12g3 – 2(b) CUSIP Number 379900 50 9LEI 529900XYUKGG3LF9PY95For further information, contact:Jack Stoch, P.Geo., Acc.Dir.President & CEOGlobex Mining Enterprises Inc.86, 14th StreetRouyn-Noranda, Quebec Canada J9X 2J1Tel.: 819.797.5242Fax: 819.797.1470 info@globexmining.com www.globexmining.com

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      Electric Royalties Ltd. (TSXV: ELEC) ("Electric Royalties" or the "Company") is pleased to announce that it has restructured the acquisition of the Globex portfolio of royalties ("Globex Portfolio") (see Company news release dated March 10, 2021), and has revised the associated non-binding letter of intent ("LOI") with Sprott Resource Streaming and Royalty Corp. ("Sprott Streaming") (see Company news release dated April 15, 2021), to provide better value for shareholders.

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      CNW Group

      Electric Royalties - Royalty Asset Update

      Electric Royalties Ltd. (TSXV: ELEC) ("Electric Royalties" or the "Company") is pleased to announce update on the assets in its current royalty portfolio.