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by Stockwatch Business Reporter
The TSX Venture Exchange
closed down 1.50 points to 532.31 Thursday. Mihalis Belantis's first capital pool shell,
Rebel Capital Inc. (RBL: suspended), plans to acquire an aspiring mining royalty company called Electric Royalties Ltd. for the shell's qualifying transaction. The shell will roll back 1 for 2, leaving it with 2.33 million shares issued, then issue 20 million shares to its target's shareholders.
Electric Royalties does not yet hold any royalties, but it is working to acquire six royalties. It intends to focus on royalties for metals that are used in electric cars, rechargeable batteries and renewable energy projects. Those metals include copper, nickel, graphite, lithium, manganese, vanadium, tin and cobalt. Mining royalty companies are essentially mining project financiers; they collect royalties from the mines that they help finance. Electric Royalties plans to acquire royalties in already-operating mines and advanced-stage projects, not early-stage projects.
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