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ELECTRIC ROYALTIES SIGNS RANA NICKEL ROYALTY PURCHASE AGREEMENT

Electric Royalties Ltd. (TSXV: ELEC) (“Electric Royalties” or the “Company”) is pleased to announce the signature of the definitive purchase agreement of the previously announced Rana Nickel Royalty acquisition (see news release dated October 19, 2021) with Scandinavian Resource Holdings (“SRH”) and Global Energy Metals Corp. (TSX-V: GEMC) to acquire a 1% net smelter revenue royalty on four exploration licenses totaling 25 square kilometers in the Råna mafic-ultramafic intrusion in Northern Norway, including the past producing Bruvann Nickel mine (the “Rana Nickel Project” or “Rana”). The Company will issue a total consideration of 2,000,000 common shares of the Company (“Consideration Shares”) and $100,000 cash. The Consideration Shares will be subject to a voluntary escrow lock-up agreement which provides that 50% of the common shares will be subject to a hold period of 4 months and one day, 25% for 8 months and the remaining 25% for 12 months. The transaction remains subject to customary closing conditions including TSX-V approval.

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