Electric Royalties Ltd. announced a private placement of up to 25,000,000 units at a price of CAD 0.40 per unit for gross proceeds of up to CAD 10,000,000 on May 4, 2021. Each unit consists of one common share of the company plus one common share purchase warrant. Each warrant can be exercised for a two-year period from the closing date at a price of CAD 0.60 per warrant share. The units, shares and warrant shares will be subject to applicable resale restrictions, including a four month hold period from date of closing under applicable Canadian securities laws. The transaction is subject to regulatory approval, including approval of the TSX Venture Exchange.