Electric Royalties (TSE:ELEC) has released an update.
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Electric Royalties Ltd. has drawn C$3,050,000 from its convertible credit facility to help finance the acquisition of a 0.75% Gross Revenue Royalty on the Punitaqui copper mine in Chile. The credit facility allows for conversion of the loan into shares at a specified rate, with a maximum interest rate of 12.5%.
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