Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) (‘Electric Royalties’ or the ‘Company’) is pleased to announce the appointment of Robert Scott as Chief Financial Officer. Mr. Scott is replacing Luqman Khan, who has departed the Company to pursue other opportunities.
Mr. Scott, a CPA, CA, and CFA, brings more than 25 years of professional experience in accounting, corporate finance, compliance and banking, and has served on the management teams and boards of a select number of Canadian publicly traded companies. Throughout his career, Mr. Scott has helped raise more than $200 million in equity financing and developed extensive experience in IPOs, reverse takeovers, mergers and acquisitions, and corporate restructuring. He is a founder and President of Corex Management Inc. (‘Corex’), which provides professional services to privately held and publicly traded companies. Mr. Scott has significant public company experience, including senior management and board positions with a number of TSX Venture Exchange issuers including Capitan Silver Corp., K2 Gold Corporation, Riverside Resources Inc., Great Bear Resources Ltd. and First Helium Inc.
Additionally, pursuant to a professional services contract, Corex will be providing a range of support services to the Company, including accounting, administration, finance and corporate compliance services.
Electric Royalties CEO Brendan Yurik commented: ‘We are excited to welcome Robert to the Electric Royalties executive team. With more than 25 years of leadership experience in finance and accounting, Robert brings a strong track record of delivering financial and strategic results in public companies, making him a natural choice for this key role in our next phase of growth. I also want to thank Luqman for his contributions over the years and wish him great success in his future endeavours.’
The transition to Corex is part of an ongoing effort to materially reduce overhead and administrative costs while maintaining focus on building a growth-oriented royalty portfolio and establishing a recurring base of royalty revenues. The engagement of Corex, along with several other initiatives and changes, are expected to reduce the Company’s overhead going forward.
About Electric Royalties Ltd.
Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.
Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.
Electric Royalties has a growing portfolio of 43 royalties in lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper across the world. The Company is focused predominantly on acquiring royalties on advanced stage and operating projects to build a diversified portfolio located in jurisdictions with low geopolitical risk, which offers investors exposure to the clean energy transition via the underlying commodities required to rebuild the global infrastructure over the next several decades toward a decarbonized global economy.
Company Contact
Brendan Yurik
CEO, Electric Royalties Ltd.
Phone: (604) 364‐3540
Email: Brendan.yurik@electricroyalties.com
https://www.electricroyalties.com/
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward-Looking Information and Other Company Information
This news release includes forward-looking information and forward-looking statements (collectively, ‘forward-looking information’) with respect to the Company within the meaning of Canadian securities laws. This news release includes information regarding other companies and projects owned by such other companies in which the Company holds a royalty interest, based on previously disclosed public information disclosed by those companies and the Company is not responsible for the accuracy of that information, and that all information provided herein is subject to this Cautionary Statement Regarding Forward-Looking Information and Other Company Information. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company’s future outlook and anticipated events and may include statements regarding the financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities of the Company and the projects in which it holds royalty interests.
While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company or these projects to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the mining industry generally, recent market volatility, income tax and regulatory matters; the ability of the Company or the owners of these projects to implement their business strategies including expansion plans; competition; currency and interest rate fluctuations, and the other risks.
The reader is referred to the Company’s most recent filings on SEDAR+ as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company’s profile page at sedarplus.ca and at otcmarkets.com.
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