ELECTRIC ROYALTIES TO ACQUIRE 0.5% GROSS REVENUE ROYALTY ON ZONIA COPPER PROJECT IN ARIZONA
Electric Royalties Ltd. (TSXV: ELEC) (“Electric Royalties” or the “Company”) is pleased to announce the signing of a binding letter agreement with World Copper Ltd. (TSX.V: WCU) (OTCQB: WCUFF) (FRA: 7LY0) (“World Copper”) to acquire a 0.5% gross revenue royalty ("GRR") on the wholly owned Zonia Copper Oxide Project in Arizona, US (the "Zonia Project" or "Zonia") in exchange for C$1,550,000 cash and 2,000,000 common shares of the Company (the “Transaction”). The Company will also have the right , for a period of 15 months after closing of the Transaction, to acquire a further 0.5% GRR on the Zonia Project for C$3,000,000 cash consideration. In addition, the Company will have an option, to acquire a 1% GRR on the Zonia Norte deposit, adjacent to the Zonia Project, for C$3,000,000 cash, at any time during a period of 24 months from the date thatWorld Copper publishes an initial technical report in respect of the Zonia Norte deposit which is prepared in accordance with National Instrument 43-101 and which contains an estimate of Inferred Mineral Resources.