Electric Royalties Ltd. (TSXV: ELEC) (“Electric Royalties” or the “Company”) is pleased to announce further to the recently closed acquisition of the Middle Tennessee Mine (“MTM”) royalty acquired via special purpose vehicle (“SPV”) Sprott Resource Streaming and Royalty Corp., or “Sprott Streaming”, 75% and Electric Royalties 25%, that the SPV has received its first royalty payment. The SPV will make distributions to both Sprott Streaming and Electric Royalties on at least a quarterly basis. Funds controlled by Sprott Streaming co-invested and acquired 75% of the MTM Royalty for C$13.5 million with Electric Royalties retaining an option to acquire an additional 25% royalty interest from Sprott Streaming (see Company news release dated August 11, 2021).
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