Electric Royalties draws down funds under convertible credit facility
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Electric Royalties Ltd has drawn C$3.05 million from its C$10 million convertible credit facility to finance the acquisition of a 0.75% gross revenue royalty on the Punitaqui copper mine in Chile.
November 27, 2024 | 2:00 pm
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Electric Royalties Ltd has utilized C$3.05 million from its convertible credit facility to acquire a royalty on the Punitaqui copper mine, potentially enhancing its revenue streams.
The drawdown of funds indicates a strategic move by Electric Royalties to enhance its asset base and revenue potential through the acquisition of a royalty on a producing mine. This could positively impact the company's financials and investor sentiment.
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