Globex Vends Some Specialty Mineral Assets To Electric Royalties Ltd.
In exchange for the royalties or portions of royalties Globex will receive $500,000 and 3,000,000 Electric Royalties shares, representing 6.93% of Electric Royalties issued capital.
- In exchange for the royalties or portions of royalties Globex will receive $500,000 and 3,000,000 Electric Royalties shares, representing 6.93% of Electric Royalties issued capital.
- Should the Authier Lithium deposit reach commercial production within 6 years of agreement, Globex will receive an additional $250,000 cash payment adjusted for inflation.
- Globex is pleased to be reaping immediate benefit from these assets and expects to partake in the upside from both our retained portions of royalties on these assets and the growth of Electric Royalties.
- This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.)