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by Stockwatch Business Reporter
The TSX Venture Exchange closed up 11.17 points to 595.96 Thursday. Mihalis Belantis's first capital pool shell, Rebel Capital Inc. (RBL: suspended), has closed its qualifying transaction, which is a mining royalty deal. The shell has acquired an aspiring royalty firm called Electric Royalties Ltd. Rebel rolled back 1 for 2, leaving it with 2.33 million shares issued, then it issued 20 million shares to its target's shareholders.
Electric Royalties plans to focus on commodities that are used in electric cars, rechargeable batteries and renewable energy production. Those commodities include nickel,
copper, graphite, cobalt, tin, lithium, manganese and vanadium. Electric, which is working to acquire its first 13 royalties, has finally provided details on those royalties in the shell's recently submitted filing statement. First, it is acquiring seven royalties from Globex Mining Enterprises Inc. (GMX: $0.40) for $500,000 and three million shares. The royalties are on Eastern Canadian properties targeting lithium, vanadium and manganese. Second, Electric is acquiring three cobalt royalties from Global Energy Metals Corp. (GEMC: $0.015) for $150,000 and 1.15 million shares. The cobalt properties are all in Queensland, Australia. The remaining three royalties are: an Ontario graphite royalty from Northern Graphite Corp. (NGC: $0.165), an Australian tin royalty from Elementos Ltd. and a Spanish tin royalty, also from Elementos. Electric will pay $500,000 and issue two million shares to Northern Graphite. It will pay $500,000 and issue 1.5 million shares to Elementos, which is an Australian firm.
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