Gleason & Sons LLC announced that it has closed on a CAD 2 million loan to Electric Royalties Ltd. (Electric Royalties) for purposes of funding new acquisitions of producing royalties. At closing, Electric Royalties advanced CAD 1 million earmarked to fulfill the cash portion of the purchase price on a 0.75% gross revenue royalty connected with the Penouta tin-tantalum mine operated by Strategic Minerals Europe Corp. in Spain.

The Gleason & Sons Loan Facility provides Electric Royalties with a scalable, non-dilutive source of financing to add to its existing portfolio of royalty assets across nine critical metals used in the electrification of the global economy. Gleason & Sons is the family office of Stefan Gleason, a Charlotte-based entrepreneur who owns and leads several privately held businesses in the United States, including Money Metals Exchange LLC. Money Metals is one of the largest precious metals dealers and depositories in North America with over CAD 1 billion in annual revenues.

Gleason and his affiliates are also major shareholders in Electric Royalties with a 17.5% ownership stake, in aggregate.