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

Gleason now beneficially owns or has control or direction over approximately 24% of the Company's issued and outstanding common shares.

"With positive developments recently announced in connection with several of the Company's largest royalties, especially Battery Hill, Seymour Lake, and Mont Sorcier, I am pleased to continue placing bids in the open market and bolster my overall investment in the Company," said Gleason. "Given the current market capitalization, I believe the assets held by Electric Royalties are dramatically undervalued."

"Meanwhile, the package of lithium properties under the asset purchase agreement signed this month creates near-term cash flow from scheduled option payments, nearly doubles the Company's royalty count to 40, charts a path to 72 royalties, and adds even more sizzle to the Company's portfolio."

Gleason is utilizing the "Normal Course Purchase Exemption" in National Instrument 62-104 -Take-Over Bids and Issuer Bids. The exemption permits additional share purchases above the 20% threshold without triggering a takeover bid requirement so long as the acquisitions within any 12-month period do "not exceed 5% of the securities of that class outstanding at the beginning of the 12-month period."

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 was elected a Director of the Company at the annual meeting last December. His family office, Gleason & Sons LLC, recently provided an expanded C$10 million convertible credit facility that potentially enables the Company to acquire new assets without raising equity, thereby avoiding dilution of existing shareholders.

On April 29, 2024, Acquiror purchased 56,900 Company shares via the TSXV (at a cost of C$14,225.00, or an average of $0.25 per share). Prior to April 29, the Acquiror held an aggregate of 23,142,104 Common Shares, representing 23.956% of the issued and outstanding Shares on an as converted and partially diluted basis. After the purchases on April 29, the Acquiror held 23,199,004 Common Shares, or 24.015% of the issued and outstanding Shares on an as converted and partially diluted basis.