NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
Vancouver, British Columbia, September 28, 2017, Royalty North Partners Ltd. (TSXV:RNP) (“RNP” or the “Company”) announces further to its press release of September 25, 2017, that the Company will give effect to the consolidation of its common shares (“Common Shares”) on the basis of ten (10) pre-consolidation Common Shares for one (1) post-consolidation Common Share (the “Consolidation”) at 12:01 a.m. tomorrow, being Friday, September 29, 2017. The Company’s Board of Directors approved the Consolidation and the Company’s post-consolidation Common Shares will be posted for trading on the TSX Venture Exchange (the “TSXV”) at the opening tomorrow, September 29, 2017 under the current symbol “RNP” and new CUSIP number 78081M307.
The 115,102,133 Common Shares issued and outstanding prior to the Consolidation have been consolidated to approximately 11,510,213 Common Shares. If, as a result of the Consolidation, a Shareholder would otherwise be entitled to a fraction of a post-consolidation Common Share, the number of post-consolidation Common Shares will be rounded to the nearest whole number, in accordance with the provisions of the British Columbia Business Corporations Act. The Company’s currently outstanding stock options will be adjusted on the same basis with proportionate adjustments being made to the stock option exercise prices.
The Company has an aggregate of 42,996,764 issued and outstanding warrants (the “Listed Warrants”), which are currently traded on the TSXV under the symbol RNP.WT. The Listed Warrants will continue to be traded on the TSXV under this symbol, and will retain their current CUSIP number, following the Consolidation of the Company’s Common Shares. It is important to note that the Listed Warrants are not being consolidated. Following the Consolidation, each ten (10) Listed Warrants of RNP.WT (expiring September 1, 2021) will entitle the holder to purchase one (1) post-Consolidation Common Share, at the adjusted total exercise price of C$2.50. In accordance with the terms of the Warrant Indenture governing the Listed Warrants, notice of the Consolidation has been sent to all holders of these warrants. The Company will make similar adjustments to its non-publicly listed warrants.
Letters of transmittal will be mailed to the registered holders of the Company’s Common Shares, requesting that they forward their pre-consolidation common Share certificates to the Company’s transfer agent, Computershare Investor Services Inc., for exchange for new Common Share certificates representing their Common shares on a post-consolidation basis.
On behalf of the Company,
Chief Executive Officer and Director
About Royalty North Partners Ltd.
Royalty North Partners is a Vancouver, BC based, TSXV-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 market transactions and private company operations. RNP is targeting royalty investments in companies with stable cash flows in non-resource based sectors looking for growth/acquisition capital, recapitalization or succession liquidity.