RE Royalties Declares Dividend and Appointment of Market Maker
Wednesday, June 26, 2019 10:00 AM
VANCOUVER, BC / ACCESSWIRE / June 26, 2019 / RE Royalties Ltd. (TSX-V: RE) ("RE Royalties" or the "Company") is pleased to announce that the Board of Directors of the Company has declared a cash distribution of $0.01 per common share for the quarter ending June 30, 2019.
The distribution is payable on August 7, 2019 to shareholders of record on July 17, 2019.
The distribution is designated by the Company to be a dividend for the purpose of the Income Tax Act (Canada) and any similar provincial or territorial legislation. The total aggregate distributions declared for the current fiscal year has been $0.02 per common share.
The Company is also pleased to announce that it has retained Integral Wealth Securities Limited ("Integral") to provide market making services in accordance with TSX Venture Exchange ("TSXV") policies. Integral will trade securities of the Company on the TSXV for the purpose of maintaining an orderly market for the Company's securities. In consideration of the services provided by Integral, the Company will pay Integral a monthly cash fee of $6,000. Integral will not receive any shares or options as compensation. The agreement has an initial term of 3 months and automatically renews on a monthly basis. Following the initial term, the Company may terminate the agreement at any time on 30 days prior written notice.
Integral and its clients may have or may acquire a direct interest in the securities of the Company. The Company and Integral are unrelated and unaffiliated entities. The capital and securities required for any trades undertaken by Integral as principal will be provided by Integral.
Integral is a national, independent investment dealer that provides private and public issuers with investment banking services, institutional investors and public issuers with capital markets services and affluent individuals with wealth management services. Integral is a member of the Investment Industry Regulatory Organization of Canada ("IIROC") and can access all Canadian Stock Exchange and Alternative Trading Systems. Founded in 2003, the firm has established capabilities in market making, energy banking, and private debt / equity.
In addition, the Company has also granted 30,000 stock options to a consultant of the Company. The stock options are granted under the Company's stock option plan and are exercisable at $0.80 per common share and are for a term of three years, subject to regulatory approval.
On Behalf of the Board of Directors,
About RE Royalties Ltd.
RE Royalties acquires revenue-based royalties from renewable energy generation facilities by providing a non-dilutive financing solution to privately-held and publicly-traded renewable energy generation and development companies. The Company currently owns royalties on solar, wind and hydro projects in Canada, Europe and the United States. The Company's business objectives are to provide shareholders with a strong growing yield, robust capital protection, high rate of growth through re-investment and a sustainable investment focus.
For further details on RE Royalties, please visit www.reroyalties.com or contact us at (778) 374‐2000 or send us an email at [email protected].
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company and within the meaning of Canadian securities laws. Forward looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events or results and may include statements regarding the Company's financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities. The reader is referred to the Company's most recent filings on SEDAR for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com.
SOURCE: RE Royalties Ltd.