All amounts in Canadian dollars unless otherwise noted
VANCOUVER, BC / ACCESS CABLE / July 18, 2022 / RE royalties ltd. (TSXV:RE)(OTCQX:RROYF) (“RE Royalties” or the “Company”) is pleased to announce that the Company’s Board of Directors has declared a cash distribution of $0.01 per issued and outstanding common share for the quarter ending June 30, 2022.
The distribution is payable on August 24, 2022 to shareholders of record on August 3, 2022. The Company designates the distribution as a dividend for purposes of the Income Tax Act (Canada) and any similar provincial or territorial legislation. . The cumulative amount of dividends declared for fiscal year 2022 has been $0.02 per common share.
Bernard Tan, CEO of the company, commented: “After a strong year of portfolio growth, we are pleased to announce another dividend payment. Additional investments will continue to provide us with a strong foundation to maintain our dividend and continue to create value for our shareholders.”
The Company announces that its common shares (“Common Shares”) are now eligible for depositary and book-entry services through the Depository Trust Company (“DTC”) in the United States. As the world’s largest securities depository, DTC manages electronic clearing and settlement of securities of publicly traded companies in the United States. DTC eligibility will simplify the process of trading and transferring Common Shares, improving liquidity in the United States by accelerating the settlement period for transfers and reducing costs for investors.
RE Royalties has entered into a market stabilization and liquidity services agreement with Red Cloud Securities Inc. (“Red Cloud”) in accordance with the policies of the TSX Venture Exchange (the “TSXV”) and applicable laws. Red Cloud is a Toronto-based financial services company that helps companies access the capital markets and improve their corporate profile. Red Cloud will trade the Company’s shares on the TSXV in order to maintain a fair market and enhance the liquidity of the Company’s common shares. In consideration for these services, Company will pay Red Cloud a flat fee of $6,000 per month, paid quarterly in advance. The services provided by Red Cloud will begin on August 1, 2022, and Red Cloud will not receive shares or other securities as compensation.
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On behalf of the Board of Directors,
About RE Royalties Ltd.
RE royalties ltd. acquires revenue-based royalties from renewable energy facilities and technologies by providing a non-dilutive financing solution to private and publicly traded companies in the renewable energy sector. RE Royalties is the first to apply this proven business model to the renewable energy sector. The Company currently owns more than 100 royalties on solar, wind, hydro, battery storage and renewable natural gas projects in North America and Europe. The Company’s business objectives are to provide shareholders with a strong growing return, strong capital protection, a high rate of growth through reinvestment and a sustainable investment approach.
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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.
This press 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 that, 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 prospects and anticipated events or results and may include statements about the Company’s financial results, future financial position, expected growth in 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 via the Company’s profile page at sedar.com.
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