NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
Vancouver, British Columbia, April 12, 2017, Royalty North Partners Ltd. (TSXV:RNP) (“RNP” or the “Company”) is pleased to announce that it intends to complete a non-brokered private placement financing (the "Private Placement") of a minimum of 17,647,058 units (the “Units”) at a price of C$0.17 per Unit to raise minimum gross proceeds of C$3,000,000.
Each Unit shall consist of one common share in the capital of the Company and one-half of one common share purchase warrant (the “Warrant”). Each whole Warrant will entitle the holder to purchase, until September 1, 2021, one additional common share of the Company (each, a "Warrant Share") at an exercise price of C$0.25 per Warrant Share. The Warrants will be governed by the terms of a warrant indenture dated November 24, 2016 and entered into between the Company and TSX Trust Company as warrant agent (the “Warrant Agent”) and a supplement thereto that the Company expects to enter into with the Warrant Agent. The Company will apply to list the Warrants for trading on the TSX Venture Exchange (the “TSX-V”) under the ticker symbol “RNP.WT”.
The proceeds of the Private Placement will be used to fund the Company’s loan agreement (the “Agreement”) with SST Construction, LLC (please see the Company's news release dated March 21, 2017 for further details with respect to the Agreement), transaction expenses and working capital purposes.
Approvals The Private Placement and the Agreement are subject to certain conditions, including the approval of the TSX-V.
All securities issued pursuant to the Private Placement will be subject to a hold period of four months from the date of issuance of the securities.
On behalf of the Company,
Chief Executive Officer and Director
About Royalty North Partners Ltd.
Royalty North Partners is a Vancouver, BC based, TSX-V listed (RNP) company focused on creating a diversified
portfolio of cash flowing royalties by providing financing to private businesses operating in the “mid-market”. RNP
is led by a seasoned board and management team with a successful track record of experience in royalty financing,
capital markets transactions and private company operations. RNP is targeting royalty investments in companies
with stable cash flow in non-resource based sectors looking for growth/acquisition capital, recapitalization or