06:18 AM EDT, 03/20/2025 (MT Newswires) -- Lithium Royalty ( LITRF ) late on Wednesday said it completed the partial sale of its Tres Quebradas royalty to Triple Flag Precious Metals ( TFPM ) for US$28 million with proceeds slated to be used to acquire additional royalties, share repurchases and for general corporate purposes.

Lithium Royalty ( LITRF ) originally acquired a 1% royalty on the Tres Quebradas project in July 2018 for US$14 million. The company then acquired a further 0.5% royalty interest for US$27.5 million in July 2023.

"This transaction allows LRC to rebalance its portfolio, replenish its balance sheet, and sell only a portion of a royalty for a substantial premium over the value embedded in our share price," said Lithium Royalty ( LITRF ) President and Chief Executive Ernie Ortiz.