Canadian Government Supports Lithium Project with C$100 Million Funding

Electric Royalties Ltd. has announced an update on its Seymour Lake Lithium Project in Ontario. The operator, Green Technology Metals, received a Letter of Interest from Export Development Canada (EDC) for up to C$100 million in financing. This step marks notable progress for the Project, which aims to become Ontario's initial lithium producer. The funding aligns with EDC's mandate to support Canadian exporters in sustainable technologies and mining.

The potential financing requires due diligence, including environmental and social assessments. Green Technology Metals expects the LOI to aid in forming a diversified financing framework, with the final structure and a feasibility study targeted for completion in 2025.

This investment underscores the strategic significance of Seymour Lake in Canada's push for a comprehensive critical minerals supply chain. Electric Royalties holds a 1.5% net smelter royalty on the project, making this development a pivotal moment for its portfolio.