On January 22, 2019, BatteryOne Royalty Corp. announced that it had acquired a 2.0% net smelter return ("NSR") royalty on future production over metals from the Dumont Nickel-Cobalt project (the "Dumont deposit"), a fully permitted, construction-ready mine, which contains one of the world's largest undeveloped reserves of nickel and cobalt, located in the established Abitibi mining camp in Québec, Canada. The area under the royalty covers approximately 21% of the Dumont deposit. The acquisition price was $2 million in cash and 3,669,018 shares of BatteryOne (representing a 19% interest of BatteryOne). One-half of the NSR can be bought back by the owner of the project for $1 million.

BatteryOne is a private royalty company focused on nickel sulfide and copper deposits, which it sees as central to the continuing development of electric vehicles and the broader electrification thesis. The company intends to seek a listing on a Canadian stock exchange in 2019.

Gowling WLG advised BatteryOne with respect to this acquisition with a team that included Denis Silva and Aneeka Sandher (corporate), Alain Lalonde (real estate) and Brent Kerr (tax).