ELECTRIC ROYALTIES LTD. ("ELEC")
BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture/s
BULLETIN DATE: November 13, 2023
TSX Venture Tier 2 Company
TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced October 19, 2023:
Convertible Debenture $500,000
Conversion Price: Convertible into 1,000,000 common shares.
Maturity date: January 12, 2026
Interest rate: Convertible debenture bears interest at the rate equal to the lesser of: (a) the United States Secured Overnight Financing Rate, as published by the New York Federal Reserve, plus seven percent (7%) per annum; and (b) 12.5%.
Number of Placees: 1 placee
Insider / Pro Group Participation:
Placees # of Placee (s) Aggregate # of Shares
Aggregate Existing Insider Involvement: 1 1,000,000
Aggregate Pro Group Involvement: N/A N/A
The Company issued a news release on November 8, 2023 confirming closing of the private placement.
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