Canadian Government Provides C$100 Million Financing LOI to Green Technology Metals in Support of Electric Royalties’ Flagship Lithium Royalty Asset in Ontario 

​ACCESSWIRE · Electric Royalties Ltd.Electric Royalties Ltd. 3 min readVANCOUVER, BC / ACCESSWIRE / December 24, 2024 / Electric Royalties Ltd. (TSXV:ELEC)(OTCQB:ELECF) (“Electric Royalties” or the “Company”) is pleased to provide an update on the Seymour Lake Lithium Project (“Seymour Lake” or “the Project”) in Ontario, Canada, on which it owns a 1.5% Net Smelter Royalty.On December 22, 2024, Green Technology Metals Limited (ASX: GT1) (“Green Technology Metals”), the operator of Seymour Lake, announced that it has received a letter of interest (“LOI”) from Export Development Canada (“EDC”) in support of EDC’s interest to finance the development of the Project and potentially provide a direct lending debt funding package of up to C$100 million.Brendan Yurik, CEO of Electric Royalties, commented: “The letter of interest from Export Development Canada for up to C$100 million in financing support represents a meaningful step forward for Green Technology Metals’ Seymour Lithium Project. This announcement could help accelerate the project’s development, reinforcing its trajectory to become Ontario’s first lithium producer, and solidifying its role in Canada’s critical minerals supply chain.”EDC is a financial Crown corporation owned by the Government of Canada, specializing in providing financing solutions for Canadian exporters and has closed over 540 transactions in the renewables and sustainable technologies, power and utilities, energy, mining, telecommunications and infrastructure sectors.The potential financing by EDC is subject to the completion of a due diligence process and typical project finance conditions. This includes an environmental and social review aligned with EDC’s Environmental and Social Risk Management Framework.According to Green Technology Metals, the LOI complements strong interest from additional global commercial lenders, forming a foundation for a diversified financing structure which it anticipates finalizing in 2025, along with a feasibility study that is already underway.Electric Royalties is relying on the information provided by Green Technology Metals.About Electric Royalties Ltd.Electric Royalties is a royalty company established to take advantage of the demand for a wide range of commodities (lithium, vanadium, manganese, tin, graphite, cobalt, nickel, zinc and copper) that will benefit from the drive toward electrification of a variety of consumer products: cars, rechargeable batteries, large scale energy storage, renewable energy generation and other applications.Electric vehicle sales, battery production capacity and renewable energy generation are slated to increase significantly over the next several years and with it, the demand for these targeted commodities. This creates a unique opportunity to invest in and acquire royalties over the mines and projects that will supply the materials needed to fuel the electric revolution.Electric Royalties has a growing portfolio of 41 royalties in lithium, vanadium, manga