Electric Royalties closes acquisition of cash-flowing royalty from Globex Mining
August 11, 2021
13.75 Million USD
On August 11, 2021, Electric Royalties Ltd. completed its acquisition from Globex Mining Enterprises Inc. of 25% of an existing sliding-scale, gross metal royalty on zinc production at the operating Middle Tennessee Mine, located in Smith County, Tennessee. The royalty was acquired on a 100% basis by Electric Royalties (as to 25%) and Sprott Resource Streaming and Royalty Corp. (as to 75%) as co-investors. Electric Royalties Ltd. also acquired 100% of a new 1% gross revenue royalty on the Glassville manganese project, located in New Brunswick, Canada, from Globex Mining Enterprises Inc.
Electric Royalties Ltd. is a royalty company set to take advantage of the demand for a wide range of commodities that will benefit from the drive to electrification.
McCarthy Tétrault advised Electric Royalties Ltd. with a team led by Roger Taplin that included Patrick Deutscher, Robin Mahood, Xinya Wang and Dinah Holliday.