CHARLOTTE, NC / ACCESSWIRE / May 30, 2024 / Stefan Gleason (the "Acquiror" or "Gleason") today announced that he is filing another early warning report in connection with his acquisition of additional shares of Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) ("Electric Royalties" or the "Company").

After acquiring 2,000,000 Electric Royalties shares today via a private, off-market transaction, Gleason now beneficially owns or has control or direction over more than 26% of the Company's issued and outstanding common shares.

"With Electric Royalties recently having more than tripled its overall holdings to 72 assets (including 40 royalties), I am pleased to continue the process of bolstering my long-term position in the Company by accumulating shares via open market purchases as well as private transactions," said Gleason.

"Meanwhile, with positive developments recently announced in connection with many of the Company's royalties - including Battery Hill, Seymour Lake, Mont Sorcier, Graphmada, Graphite Bull, Zonia, Kenbridge, Authier, and Chubb - as well as using a conservative NPV analysis of the Company's anticipated future cash flows, I believe Electric Royalties shares remain remarkably undervalued."

In order to make further share acquisitions above the 20% threshold, Gleason has been utilizing both the "Normal Course Purchase Exemption" and the "Private Agreement Exemption" in National Instrument 62-104 - Take-Over Bids and Issuer Bids.

Stefan Gleason is a Charlotte-based entrepreneur who leads several privately held businesses in the United States, including Money Metals Exchange LLC. Money Metals is one of the largest precious metals dealers and depositories in North America.

Gleason is also a Director of Electric Royalties. His family office, Gleason & Sons LLC, recently provided Electric Royalties an expanded C$10 million convertible credit facility that potentially enables the Company to acquire new assets without raising equity until such time as its shares are fairly valued, thereby limiting dilution of existing shareholders.

On May 30, 2024, Acquiror closed on a private agreement to acquire 2,000,000 (at a cost of C$400,000, or $0.20 per share). Prior to May 30, the Acquiror held an aggregate of 23,746,404 Common Shares, representing 24.02% of the issued and outstanding Shares on an as converted and partially diluted basis. After the acquisition on May 30, the Acquiror held 25,746,404 Common Shares, or 26.05% of the issued and outstanding Shares on an as converted and partially diluted basis.