Lithium Royalty Corp. sells Tres Quebradas royalty stake

Lithium Royalty Corp. has completed a partial sale of its Tres Quebradas royalty to Triple Flag Precious Metals for $28 million, or about C$40 million. This deal will help Lithium Royalty rebalance its portfolio and strengthen its financial position. Ernie Ortiz, the President and CEO of Lithium Royalty, stated that this transaction will allow the company to renew its balance sheet and sell a portion of the royalty for more than its current stock value. The company plans to use the proceeds for buying more royalties, share repurchases, and general corporate needs. Lithium Royalty originally acquired a 1.0% royalty on the Tres Quebradas project in July 2018, paying $14 million. It then purchased an additional 0.5% interest in July 2023 for about $27.5 million. The company's annual financial statements for the 2024 fiscal year will be filed today. Lithium Royalty focuses on building a diverse portfolio of royalties related to lithium and other battery materials, supporting the shift towards electric and sustainable energy. The company is committed to responsible investment and sustainable mining practices.