Annoucements - All News

April 6, 2018

Notice of meeting and record date

Notice of meeting and record date

 

Date: April 2, 2018

To: All Canadian Securities Regulatory Authorities

 

Subject: Grenville Strategic Royalty Corp.

We advise of the following with respect to the upcoming Meeting of Security Holders for the subject Issuer:

Meeting Type : Annual General and Special Meeting
Record Date for Notice of Meeting : April 16, 2018
Record Date for Voting (if applicable) : April 16, 2018
Beneficial Ownership Determination Date : April 16, 2018
Meeting Date : May 18, 2018
Meeting Location (if available) : Toronto, ON
Issuer sending proxy related materials directly to NOBO: Yes
Issuer paying for delivery to OBO: No

 

Notice and Access (NAA) Requirements:
NAA for Beneficial Holders No
NAA for Registered Holders No

 

Voting Security Details:

 

Description CUSIP Number ISIN
COMMON SHARES 39773A100 CA39773A1003

 

Sincerely,

 

Computershare

510 Burrard St, 3rd Floor Vancouver BC, V6C 3B9

www.computershare.com

Agent for GRENVILLE STRATEGIC ROYALTY CORP.

April 4, 2018

Grenville Strategic Royalty Announces $1,000,000 Royalty Agreement with DionyMed Holdings Inc.

Grenville Strategic Royalty Announces $1,000,000 Royalty Agreement with DionyMed Holdings Inc.

TORONTO, Ontario, April 2, 2018 – Grenville Strategic Royalty Corp. (TSXV: GRC) (“Grenville” or the “Company”) today announced it has signed a royalty purchase agreement with DionyMed Holdings Inc. (“DionyMed”) to provide $1,000,000 CDN in growth capital to DionyMed. Similar to Grenville’s other royalty agreements, the financial terms include an indefinite term, monthly payments, and a buyout provision. In addition, DionyMed has issued to Grenville warrants to purchase up to 100,000 common shares of DionyMed at a strike price of $1.50 CDN per share for a period of 5 years following the issuance date of the warrants. Grenville will have the right to receive additional common share purchase warrants of DionyMed with each additional investment made by Grenville, up to a maximum of 100,000 additional warrants.

Based in Ontario, DionyMed is a holding company and the sole shareholder of Herban Industries, Inc., a California based group operating as a licensed cannabis manufacturer and distributor across the newly regulated State. An early mover in the industry, DionyMed, through its operating entities, sources cannabis distillate, flower, edibles and other related products from licensed suppliers for delivery through it’s truck fleet, to the 300+ licensed dispensaries throughout California.

“We are delighted to invest in this extraordinary team, including serial entrepreneur Edward Fields, and cannabis industry veteran Peter Kampian, the former CFO of Mettrum Health” said Grenville CEO Steve Parry. “We believe DionyMed, through its professional approach to distribution is poised to establish a lead position in the largest established North American market for cannabis products.”

Peter Kampian is a director of Grenville and is also an officer of DionyMed. As such, the transaction constitutes a related party transaction under Canadian Multilateral Instrument 61-101 (“MI 61-101”), but is otherwise exempt from the formal valuation and minority approval requirements of MI 61-101.

About DionyMed Holdings, Inc.

Founded in 2017 by Edward Fields, a Silicon Valley technology executive, DionyMed entered the Cannabis industry as the California regulatory environment shifted in support of the distributor as a critical component of the supply chain. DionyMed recruited Peter Kampian, former CFO of Mettrum Health to the CFO role complementing the existing leadership team and positioning the company to be a leader in the new formed space.

About Grenville

Based in Toronto, Grenville Strategic Royalty Corp. is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments and buyouts from contracts. The non-dilutive royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.

Neither 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.

For further information, please contact:

Grenville Strategic Royalty Corp.:
Steven Parry
Chief Executive Officer
Tel: (416) 777-0383

March 12, 2018

LOGIQ AND GRENVILLE TO COMBINE

LOGIQ AND GRENVILLE TO COMBINE

TORONTO, March 12, 2018 – LOGiQ Asset Management Inc. (“LOGiQ”) (TSX:LGQ) and Grenville Strategic Royalty Corp. (“Grenville”) (TSXV:GRC) are pleased to announce that they have entered into an arrangement agreement (the “Arrangement Agreement”) pursuant to which LOGiQ has agreed to acquire all of the issued and outstanding common shares of Grenville (the “Grenville Shares”) on the basis of 6.25 common shares of LOGiQ (the “LOGiQ Shares”) for each outstanding Grenville Share (the “Transaction”).

The consideration to be received by Grenville shareholders reflects the relative values of each of LOGiQ and Grenville. Upon completion of the Transaction, existing holders of LOGiQ Shares and Grenville Shares will collectively own approximately 33% and 67% of the combined company, respectively.

LOGiQ and Grenville believe that on a combined basis, the companies together will offer a more effective and viable platform for enhancing shareholder value. “As we explored various options for LOGiQ shareholders, we believe Grenville and its business model, combined with LOGiQ’s institutional Global Advisory Sales platform, offers exciting growth opportunities and the potential to rebuild shareholder value” said Dr. Eldon Smith, LOGiQ’s Chairman. “Grenville’s renewed investment process, strong deal flow pipeline and investment structure are designed to return significant cash on cash yields to investors while participating in the growth of its portfolio companies. This model has been built to provide a win for Grenville’s shareholders and portfolio companies alike. Grenville’s recent success with companies such as Boardwalktech, an emerging enterprise Blockchain company based in California, and its significant equity position in cannabis franchisor Inner Spirit, are indicative of the quality of its deal flow and the upside potential of Grenville’s business model.”

Vernon Lobo, Chair of Grenville’s investment committee added: “We are delighted to be partnering with LOGiQ as we add scale to our business to allow us to take advantage of the compelling investment opportunities ahead of us. Both companies have worked very hard over the past year to address their challenges, and the combination of these businesses will provide us with a solid financial platform from which to build a value-creating business focused on providing alternative sources of financing to high growth companies throughout North America. We are encouraged by recent events in our portfolio, including the contract buyout concluded last week with phone repair company FIXT, and the going public transaction announced by Clear Blue Technologies, one of our earliest investees. We are also looking forward to partnering with Steve Mantle and his team at LOGiQ Global Partners as they continue to grow their business, which generates a consistent and growing revenue stream for the benefit of shareholders. We will be working on board and management configuration over the coming weeks.”

The board of directors of LOGiQ (the “LOGiQ Board”), based on the unanimous recommendation of a special committee of the LOGiQ Board, has unanimously approved the Transaction and recommends that holders of LOGiQ Shares vote in favour of the special resolution approving the continuance of LOGiQ from Alberta into British Columbia (the “Continuance”), which is required to complete the Transaction, and the ordinary resolution approving the issuance of LOGiQ Shares pursuant to the Transaction (the “Share Issuance”).

The board of directors of Grenville (the “Grenville Board”), based on the unanimous recommendation of a special committee of the Grenville Board, has unanimously approved the Transaction and recommends that holders of Grenville Shares vote in favour of the special resolution approving the Transaction.

Transaction Terms

Under the terms of the Arrangement Agreement, the Transaction will be effected by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the “BCBCA”).

The Transaction is subject to shareholder, TSX and Supreme Court of British Columbia approval, and the satisfaction of other customary closing conditions. LOGiQ and Grenville intend to complete the Transaction as soon as possible after all conditions have been met or waived.

The Transaction will require approval by at least 66⅔% of holders of the Grenville Shares represented in person or by proxy at a special meeting of holders of Grenville Shares to be called to consider the Transaction (the “Grenville Meeting”) and, if required, a simple majority of the votes cast by holders of Grenville Shares after excluding the votes cast by those persons whose votes may not be included under the Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions.

The continuance of LOGiQ from Alberta into British Columbia will require approval by at least 66⅔% of holders of the LOGiQ Shares represented in person or by proxy at a special meeting of holders of LOGiQ Shares to be called to consider the Continuance and the Share Issuance (the “LOGiQ Meeting”). The issuance of the LOGiQ Shares pursuant to the Transaction will require approval by holders of a simple majority of LOGiQ Shares represented in person or by proxy at the LOGiQ Meeting, pursuant to the requirements of the TSX. Subject to any required regulatory and shareholder approvals, in connection with the completion of the Transaction, the LOGiQ Shares may be consolidated on a ratio to be determined by the parties.

Further details of the Transaction are set out in the Arrangement Agreement and will also be set out in the joint management information circular to be prepared in connection with the LOGiQ Meeting and the Grenville Meeting, both of which will be filed by LOGiQ and Grenville on SEDAR and will be available on their respective profiles at www.sedar.com.

Voting Support Agreements

All directors and officers of Grenville that are securityholders of Grenville, all directors and officers of LOGiQ that are securityholders of LOGiQ and certain other shareholders of LOGiQ have entered into customary voting support agreements to, among other things, vote in favour of the Transaction.

About LOGiQ

LOGiQ (www.logiqasset.com) provides investment management services to institutional investors through segregated managed accounts and pooled funds, and has an institutional global advisory sales platform providing pension funds, charities and endowment clients with access to leading institutional money managers from around the world. LOGiQ had assets under management or advisement and institutional advisory sales-related fee earning arrangements that are not managed or advised, totaling over $3.4 billion as at December 31, 2017.

About Grenville

Based in Toronto, Grenville Strategic Royalty Corp. is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments, buyouts from contracts and equity returns. The flexible royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.

Cautionary Statement

This news release contains certain “forward-looking statements” within the meaning of such statements under applicable securities law. Forward-looking statements are frequently characterized by words such as “plan”, “continue”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “may”, “will”, “potential”, “proposed” and other similar words, or statements that certain events or conditions “may” or “will” occur. These statements are only predictions. Various assumptions were used in drawing the conclusions or making the projections contained in the forward-looking statements throughout this news release. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements including: future operating results and funding requirements; the ability to achieve synergies; future general economic and market conditions; and changes in laws and regulations. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. LOGiQ and Grenville do not undertake to update any forward-looking information contained herein, except as required by applicable securities laws. There are a number of conditions precedent to the completion of the Transaction and there can be no assurance that such conditions precedent will be satisfied and that the Transaction will be completed.

The TSX has neither approved nor disapproved the information contained in this release. Neither TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Requests for further information should be directed to:

LOGiQ Asset Management Inc.

Joe Canavan President and Chief Executive Officer jcanavan@logiqasset.com

Mary Anne Palangio Chief Financial Officer mapalangio@logiqasset.com

Phone: (416) 583-2300 180 John Street Toronto, ON M5T 1X5

Grenville Strategic Royalty Corp.

Steven Parry Chief Executive Officer steve@GrenvilleSRC.com

Phone: (416) 777-0383 1 Adelaide Street East, Suite 3002,

PO Box 171,

Toronto, Ontario M5C 2V9

February 15, 2018

Grenville Strategic Royalty Announces 2017 Year End and Fourth Quarter Results

Grenville Strategic Royalty Announces 2017 Year End and Fourth Quarter Results

– Records Royalty Payment and Interest Income of $1.1 million and Free Cash Flow(1) of $701,000 in Q4 2017 –

TORONTO, Ontario, February 15, 2017 – Grenville Strategic Royalty Corp. (TSXV: GRC) (“Grenville” or the “Company”) today announced its financial and operating results for the three- and twelve-month periods ended December 31, 2017. Financial references are in Canadian dollars unless otherwise specified.

2017 Fourth Quarter Financial Highlights

  • Royalty Payment and Interest Income of $1,133,000
  • Adjusted EBITDA(1) of $65,000
  • Free Cash Flow(1) of $701,000

Financial Highlights

Canadian dollars Three months ended December 31, 2017 Three months ended December 31, 2016(2) Year ended December 31, 2017 Year ended December 31, 2016(2)
Revenues $          (2,870,933) $          (5,631,721) $          (9,603,221) $          (7,930,240)
Royalty Payment Income Interest and Fee Income Earned 1,130,658 1,586,259 4,704,198 8,284,265
Adjusted EBITDA(1)                     65,313 699,407 4,150,070                4,201,513
Free Cash Flow(1)                   701,050                (170,083)                4,438,293                (267,623)
(Loss)/Profit for the period             (3,339,862)             (5,140,581)           (11,351,423)           (10,655,454)
EBITDA/EBITDA (Loss)(1)             (4,053,740) (6,542,870) (13,525,112)           (12,500,834)
Basic Earnings/(Loss) per share                  (0.0288)                  (0.0484)                  (0.1068)                  (0.1007)
Diluted Earnings/(Loss) per share                  (0.0288)                  (0.0484)                  (0.1068)                  (0.1007)
Weighted basic average number of shares outstanding            106,317,656            106,287,720            106,312,767            105,770,194
Royalty agreements acquired and promissory notes receivable in period 829,665 706,425 5,048,298 6,171,924
  1. (1) EBITDA, Adjusted EBITDA and Free Cash Flow are non-IFRS measures. Refer to section Definition of Non-IFRS Measures for further explanation and definitions
    (2) For the three-month and year ended December 31, 2016 the company reported under results of operations dividend paid and payable during the period and dividend per share on an annualized basis. As the dividend was suspended in October 2016, this information was not included again as it would not provide a meaningful comparison.

 Revenues

Revenues were $(2,871,000) and $(9,603,000) for the three-month (Q4 2017) and twelve-month (FY 2017) periods ended December 31, 2017, respectively, compared to $(5,632,000) and $(7,930,000) for the corresponding periods in 2016. With the adoption of IFRS 9, certain non-cash items are recognized in revenue.

Revenues in the quarterly period were negatively impacted by net non-cash items of $3,869,000 compared to $7,237,000 for the same period in 2016. This non-cash amount relates to $3,438,000 for an unrealized loss from the change in fair value of royalty agreements acquired and promissory notes receivable, $730,000 for an unrealized loss in the change of the fair value of the shares held in Lattice Biologics Ltd., partially offset by $94,000 of unrealized foreign exchange gain.

Revenues in the annual period were negatively impacted by net non-cash items of $14,390,000 compared to $16,410,000 in 2016. This non-cash amount relates to $3,321,625 of an unrealized loss in writing-down the fair value of royalty agreements acquired and promissory notes receivable, $7,449,269 for investments written-off, $2,732,254 for the unrealized loss in the change in the fair value of the shares held in Lattice Biologics Ltd., $1,809,436 for unrealized foreign exchange loss offset by $922,284 for an unrealized gain from an investment derecognized. There was $3,000,000 of realized gain from contract buyouts recognized for 2017 because of the buyout of the Aquam investment compared to a gain of $99,000 for 2016.

Royalty Payment Income and Interest and Fee Income Earned

Royalty payment income plus interest and fee income earned was $1,131,000 and $4,704,000 for Q4 2017 and FY 2017, respectively, compared to $1,586,000 and $8,284,000 for the corresponding periods in 2016.

The change in the quarterly period was due to no royalty payment income recognized in Q4 2017 from four investees that have failed to pay royalties for at least three months compared to $190,000 of income recognized from this group in the same period last year and $330,000 of income recognized on the Aquam investment during the three-month period ended December 31, 2016 that was bought-out in April 2017.

The change in the annual period was primarily due to $3,300,000 for investments where more income was recognized in 2016 than in 2017 due to investees that have failed to pay royalties for at least three months.

Management believes that the core companies from its portfolio will continue to contribute Free Cash Flow(1) on a regular basis as the portfolio matures.

Operating Expense

Total operating expenses were $1,196,000 and $3,963,000 for Q4 2017 and FY 2017, respectively, compared to $1,020,000 and $4,610,000 for the corresponding periods in 2016. The change in the quarterly period is due to an increase of $198,000 in withholding tax expense offset by $30,000 lower staffing costs which reflects management’s initiatives to reduce costs. The improvement in the annual period is due to a $675,000 contract payment made to the former CEO in 2016, $245,000 in lower professional fees in 2017, $197,000 in lower salaries in 2017 and $148,000 in lower office and general expense in 2017. These improvements in the annual period were partially offset by $400,000 in harmonized sales tax expense recognized during the three-month period ended March 31, 2017 for overclaimed HST and an increase of $198,000 in withholding tax expense.

Adjusted EBITDA(1)

Adjusted EBITDA(1) was $65,000 and $4,150,000 for Q4 2017 and FY 2017, respectively, compared to $699,000 and $4,202,000 for the corresponding periods in 2016. The change in the quarterly period was primarily due to the decrease in royalty payment income and the higher withholding tax, each of which are described above.

Free Cash Flow(1)

Free Cash Flow(1) was $701,000 and $4,438,000 for Q4 2017 and FY 2017, respectively, compared to $(170,000) and $(268,000) for the corresponding periods in 2016. The improvement in the quarterly period was due to the $427,000 of income tax recoverable and $252,000 of prepaid royalty payments and interest income in Q4 2017. The change in the annual period was primarily due to the contract buyout of the Aquam investment that generated $3,533,000 in free cash flow(1) and the $427,000 of income tax recoverable.

Loss After Taxes

Loss after taxes was $3,340,000 and $11,351,000 for Q4 2017 and FY 2017, respectively, compared to $5,141,000 and $10,655,000 for the corresponding periods in 2016.

Assets

 

  As at December 31, 2017 As at December 31, 2016
Cash and cash equivalents $7,534,383 $6,202,412
Royalty agreements acquired, promissory notes and equity investments 22,194,107 37,562,379
Total assets 39,323,563               49,426,466

 

Grenville’s financial statements and management’s discussion and analysis for the three-month period and year ended December 31, 2017, will be filed today on SEDAR at www.sedar.com and will also be available on Grenville’s website at www.grenvillesrc.com

(1) Please refer to the Company’s management’s discussion and analysis for definitions and reconciliations of these non-IFRS measures to measures prescribed by IFRS.

Conference Call Details

Grenville will host a conference call to discuss these results at 8:00 a.m. Eastern Time, Friday, February 16, 2018. Participants should call (647) 427-2311 or(866) 521-4909 and ask an operator for the Grenville earnings call. Please dial in 10 minutes prior to the call to secure a line. A replay will be available shortly after the cal. To access the replay, please dial (416) 621-4642 or (800) 585-8367 and enter access code 5494847. The replay recording will be available until 11:59 p.m. Eastern Time, February 23, 2018.

An audio recording of the conference call will be also available on the investors’ page of Grenville’s website at grenvillesrc.com.

About Grenville

Based in Toronto, Grenville Strategic Royalty Corp. is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments, buyouts from contracts and equity returns. The flexible royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.

Forward-Looking Information and Statements

This press release contains certain “forward-looking information” within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and forward-looking statements are not representative of historical facts or information or current condition, but instead represent only the Company’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company’s control. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information contained herein may include, but is not limited to, information with respect to: prospective financial performance; including the Company’s opinion regarding the current and future performance of its portfolio, expenses and operations; anticipated cash needs and need for additional financing; anticipated funding sources; future growth plans; royalty acquisition targets and proposed or completed royalty transactions; estimated operating costs; estimated market drivers and demand; business prospects and strategy; anticipated trends and challenges in the Company’s business and the markets in which it operates; the amount and timing of the payment of dividends by the Company; and the Company’s financial position. By identifying such information and statements in this manner, the Company is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such information and statements.

An investment in securities of the Company is speculative and subject to a number of risks including, without limitation, risks relating to: the need for additional financing; the relative speculative and illiquid nature of an investment in the Company; the volatility of the Company’s share price; the Company’s limited operating history; the Company’s ability to generate sufficient revenues; the Company’s ability to manage future growth; the limited diversification in the Company’s existing investments; the Company’s ability to negotiate additional royalty purchases from new investee companies; the Company’s dependence on the operations, assets and financial health of its investee companies; the Company’s limited ability to exercise control or direction over investee companies; potential defaults by investee companies and the unsecured nature of the Company’s investments; the Company’s ability to enforce on any default by an investee company; competition with other investment entities; tax matters, including the potential impact of the Foreign Account Tax Compliance Act on the Company; the potential impact of the Company being classified as a Passive Foreign Investment Company (“PFIC”); the Company’s ability to pay dividends in the future and the timing and amount of those dividends; reliance on key personnel, particularly the Company’s founders; dilution of shareholders’ interest through future financings; and general economic and political conditions; as well as the risks discussed under the heading “Risk Factors” on pages 16 to 22 of the Annual Information Form of the Company dated February 11, 2015 and the risks discussed herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.

In connection with the forward-looking information and forward-looking statements contained in this press release, the Company has made certain assumptions. Assumptions about the performance of the Canadian and U.S. economies over the next 24 months and how that will affect the Company’s business and its ability to identify and close new opportunities with new investees are material factors that the Company considered when setting its strategic priorities and objectives, and its outlook for its business.

Key assumptions include, but are not limited to: assumptions that the Canadian and U.S. economies relevant to the Company’s investment focus will remain relatively stable over the next 12 to 24 months; that interest rates will not increase dramatically over the next 12 to 24 months; that the Company’s existing investees will continue to make royalty payments to the Company as and when required; that the businesses of the Company’s investees will not experience material negative results; that the Company will continue to grow its portfolio in a manner similar to what has already been established; that tax rates and tax laws will not change significantly in Canada and the U.S.; that more small to medium private and public companies will continue to require access to alternative sources of capital; that the Company will have the ability to raise required equity and/or debt financing on acceptable terms; and that the Company will have sufficient free cash flow to pay dividends. The Company has also assumed that access to the capital markets will remain relatively stable, that the capital markets will perform with normal levels of volatility and that the Canadian dollar will not have a high amount of volatility relative to the U.S. dollar. In determining expectations for economic growth, the Company primarily considers historical economic data provided by the Canadian and U.S. governments and their agencies. Although the Company believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements.

The forward-looking information and forward-looking statements contained in this PRESS RELEASE are made as of the date of this PRESS RELEASE, and the Company does not undertake to update any forward-looking information and/or forward-looking statements that are contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward- looking information and statements attributable to the Company or persons acting on its behalf is expressly qualified in its entirety by this notice.

Neither 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.

 For further information, please contact:

Grenville Strategic Royalty Corp.:

Steven Parry

Chief Executive Officer

Tel: (416) 777-0383

February 13, 2018

Notice of Grenville Strategic Royalty’s Year End 2017 Financial Results Conference Call

Notice of Grenville Strategic Royalty’s Year End 2017 Financial Results Conference Call

– Financial results to be released after markets on Thursday, February 15, 2018 –

TORONTO, Ontario, February 9, 2018 – Grenville Strategic Royalty Corp. (TSXV: GRC) (“Grenville” or the “Company”) today announced it will release its year end 2017 financial results after the markets close on Thursday, February 15, 2018. Mr. Steve Parry, Chief Executive Officer, and Mr. Donnacha Rahill, Chief Financial Officer, will host a conference call at 8:00 a.m. ET the next day, Friday, February 16, 2018, to review the results. A question and answer session will follow the corporate update.

 CONFERENCE CALL DETAILS

DATE:                                          Friday, February 16, 2018

TIME:                                           8:00 AM Eastern Time

DIAL IN NUMBER:                     866 521-4909 or 647 427-2311

TAPED REPLAY:                         800 585-8367 or 416 621-4642

REFERENCE NUMBER:            5494847

A recording of the call will be archived on the Company’s website at www.grenvillesrc.com/financials/ .

 About Grenville

 Based in Toronto, Grenville is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments, buyouts from contracts and equity returns. The non-dilutive royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.

For further information, please contact:

Grenville Strategic Royalty Corp.:

Steve Parry

Chief Executive Officer

Tel: (416) 777-0383

 

January 22, 2018

Grenville Strategic Royalty Announces Equity Investment Increase to 13% in Cannabis Business – Inner Spirit

Grenville Strategic Royalty Announces Equity Investment Increase to 13% in Cannabis Business – Inner Spirit

– Grenville’s $1 million investment in WatchIt! converted to 10 million shares of Inner Spirit –

TORONTO, Ontario, January 22, 2018 – Grenville Strategic Royalty Corp. (TSXV: GRC) (“Grenville” or the “Company”) today announced it has reached an agreement with Inner Spirit Holding Ltd., to convert Grenville’s $1 million royalty agreement in Watch It! Consolidated Ltd. (“Watch It!”) to 10 million shares in Inner Spirit Holding Ltd. (“Inner Spirit”) at a price of 10 cents per share. Watch It! is a wholly-owned subsidiary of Inner Spirit and is current in all royalty payment due to Grenville under the royalty agreement. With the conversion, Grenville now holds 14,455,000 shares or approximately 13 percent of the total issued and outstanding common shares of Inner Spirit. The conversion provides Grenville exposure to Inner Spirit’s recreational cannabis business and its retail growth strategy.

Inner Spirit is the parent company of Spirit Leaf Inc. (“Spirit Leaf”) which aims to be a market leader in the franchising of retail cannabis dispensaries in jurisdictions in Canada where private distribution is legalized. Spirit Leaf has entered into 95 franchise agreements for proposed retail locations in Canada.

 “This transaction demonstrates another lever in our toolbox to optimize returns, by blending royalties with the upside of equity returns. Inner Spirit has constructed an impressive retail footprint in preparation for the launch of the recreational cannabis market in Canada,” said Steve Parry, Chief Executive Officer of Grenville. “In select cases where we believe the equity gains can dramatically outperform the royalty returns, like the situation that arose with the integration of Spirit Leaf and Watch It!, a conversion to equity in a broader based business like Inner Spirt makes sense for our shareholders. We look forward to continuing to support Inner Spirit management as they execute their growth strategy.”

 “The transaction demonstrates the flexibility of Grenville’s model to support entrepreneurs through the different phases of their growth. We are very excited about our next phase of growth at Inner Spirit as we prepare for the launch of the Canadian recreation cannabis market this year,” said Darren Bondar, Chief Executive Officer of Inner Spirit. “With 95 executed retail agreements and the recent strategic supply relationship announced earlier this month, we are well positioned to be a leading Canadian retail provider of cannabis in markets where private distribution is legal. We look forward to drawing on Grenville’s experience and expertise as we execute our growth strategy.”

About Grenville

Based in Toronto, Grenville Strategic Royalty Corp. is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments, buyouts from contracts and equity returns. The non-dilutive royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.

 About Inner Spirit

Inner Spirit is a specialty retailer and franchise company that is applying its management’s significant franchise experience and model to the recreational cannabis market. The first and only Canadian cannabis focused company to be granted Canadian Franchise Association membership to date, Inner Spirit intends to establish a chain of recreational cannabis dispensaries under its Spiritleaf brand, with the vision of becoming the leading private recreational cannabis retail dispensary chain in Canada. Spiritleaf aims to be the most knowledgeable and trusted source of recreational cannabis, offering a premium consumer experience with high-quality product brands.

 Neither 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.

For further information, please contact:

Grenville Strategic Royalty Corp.:

Steven Parry

Chief Executive Officer

Tel: (416) 777-0383

 

 

January 3, 2018

Grenville Strategic Royalty Announces Investment in Solar Brokers

Grenville Strategic Royalty Announces Investment in Solar Brokers

TORONTO, Ontario, January 2, 2018 – Grenville Strategic Royalty Corp. (TSXV: GRC) (“Grenville”) today announced that it has signed an agreement to provide growth capital to Solar Brokers Canada Corp. (“Solar Brokers”) and its affiliate Green Lion Eco Group Corp. (“Green Lion”).

Solar Brokers, based in Toronto, Ontario, is one of Canada’s largest solar sales organizations. Solar Brokers has brokered the sale of over 30 megawatts of solar to homeowners in Ontario since 2012, selling through online and premium retail channel partners. Solar Brokers is redefining how Canadian consumers adopt residential solar. Green Lion is a project management and quality assurance firm that ensures that every Solar Brokers project is built to industry-leading standards.

Grenville CEO Steve Parry commented: “Our team has a profitable track record of investing in consumer-facing energy sales companies, with over USD $100M of exit value yielded from investments made prior to the inception of Grenville.  We can identify the winning teams and business models.  Grenville is thrilled to have the opportunity to fuel Solar Brokers’ continued expansion with our capital and relationships.”

Solar Brokers CEO J.C. Awwad commented: “Grenville’s unique investment model is a good alternative to equity investment, and is very attractive to fast-growth entrepreneurial companies like ours. This initial investment capital will be used for more rapid expansion across Canada in the first quarter of 2018. We look forward to a mutually beneficial partnership.”

Grenville’s initial investment into Solar Brokers, in the amount of CAD $1,075,000, is through an expandable capital facility. Similar to Grenville’s other royalty agreements, the financial terms include an indefinite term, monthly payments, and a buyout provision.

About Solar Brokers

Solar Brokers is one of the largest solar providers in Canada and the first residential solar brokerage in the country. Since its founding in 2012, the company has experienced revenue growth of over 8900%. To date the company has brokered over 30 megawatts of residential solar in Ontario. Based in Toronto, Solar Brokers and its affiliate companies oversee a staff of over 100 industry-leading professionals. Through its proprietary tools, including state-of-the art project and customer relationship management software, and lead-generating interactive kiosks, Solar Brokers is redefining how consumers adopt residential solar.

About Grenville

Based in Toronto, Grenville Strategic Royalty Corp. is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments and buyouts from contracts. The non-dilutive royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.

Neither 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.

For further information, please contact:

Grenville Strategic Royalty Corp.:
Steven Parry
Chief Executive Officer
Tel: (416) 777-0383

December 15, 2017

Grenville Strategic Royalty Provides Additional Detail on Boardwalktech Transaction

Grenville Strategic Royalty Provides Additional Detail on Boardwalktech Transaction

TORONTO, Dec. 15, 2017 (GLOBE NEWSWIRE) — Further to the release earlier today, Grenville Strategic Royalty Corp. (TSXV:GRC) (“Grenville” or the “Company”) provides additional commentary that the investment in Boardwalktech, Inc. (“Boardwalktech”) was made with similar financial terms to our other royalty agreements with monthly payments and a buyout provision. The transaction was led by SQN Venture Partners (“SQN”), and Grenville was a participant in the transaction following SQN as lead investor.

About Grenville
Based in Toronto, Grenville Strategic Royalty Corp. is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments and buyouts from contracts. The non-dilutive royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.

Neither 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.

For further information, please contact:

Grenville Strategic Royalty Corp.:
Steven Parry
Chief Executive Officer
Tel: (416) 777-0383

Grenville Strategic Royalty Announces Investment in Boardwalktech, Pioneer in Enterprise Blockchain

Grenville Strategic Royalty Announces Investment in Boardwalktech, Pioneer in Enterprise Blockchain

TORONTO, Ontario, December 15, 2017 – Grenville Strategic Royalty Corp. (TSXV: GRC) (“Grenville” or the “Company”) today announced that it has signed an agreement, alongside SQN Venture Partners (“SQN”), to provide growth capital to Boardwalktech, Inc. (“Boardwalktech”).

Based in Cupertino, California, Boardwalktech has developed a patented digital ledger technology that allows for multi-party collaboration and verification on a trusted, shared, secure, and private information cloud. Their data management platform allows rapid blockchain application development on any platform or user interface, supporting both on/off-chain “smart contract” business logic and blockchain data. The Boardwalktech Application Engine (BAE) Platform acts as the data management engine enabling enterprises to build enterprise-quality applications.

Grenville CEO Steve Parry commented: “Our Boardwalktech investment demonstrates the value of Grenville’s business model for evaluating and participating in emerging exponential markets like blockchain. Boardwalktech is a pioneer in digital ledger technology, with patents, Fortune 100 customers and significant revenues based on delivering applications that enable the blockchain environment to generate tangible return on investment to customers in mission-critical applications.  Our royalty product is an excellent match for the rapid revenue growth that these companies experience.  We have an established pipeline of new deals in the blockchain space and are devoting additional resources to sourcing more.  We hope that Boardwalktech will be the first of many in this space.”

Boardwalktech CEO Andrew Duncan commented: “We are very pleased to include Grenville as a financial partner alongside of SQN. These two firms have provided our founding investors the ability to delay significant dilution of ownership while we developed our customer base. Now, with the explosion of interest in the blockchain environment, we are in an ideal place to realize significant shareholder value.”

As part of the growth capital facility, Grenville invested US $425,000.

About Boardwalktech, Inc.

Based in Cupertino, California, Boardwalktech has developed a patented digital ledger technology that allows for multi-party collaboration and verification on a trusted, shared, secure, and private information cloud. Their data management platform allows rapid blockchain application development on any platform or user interface, supporting both on/off-chain “smart contract” business logic and blockchain data. Founded in 2005, Boardwalktech is primarily employee-owned.

About Grenville

Based in Toronto, Grenville Strategic Royalty Corp. is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments and buyouts from contracts. The non-dilutive royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.

Neither 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.

For further information, please contact:

Grenville Strategic Royalty Corp.:

Steven Parry

Chief Executive Officer

Tel: (416) 777-0383

December 8, 2017

Grenville Strategic Royalty Announces Acquisition of Portfolio Holding Frequentz Inc.

Grenville Strategic Royalty Announces Acquisition of Portfolio Holding Frequentz Inc.

TORONTO, Ontario, December 7, 2017 – Grenville Strategic Royalty Corp. (TSXV: GRC) (“Grenville”) today announced that rfXcel, a provider of supply chain track and trace solutions for the pharmaceutical industry has acquired the assets of Frequentz, Inc. (“Frequentz”), a leading player in life science and food traceability. Terms of this transaction can be found in the following press release: https://www.prnewswire.com/news-releases/rfxcel-acquires-frequentz-assets-300566623.html.

As previously announced on June 21, 2017 Grenville entered into a royalty purchase agreement with Frequentz, to provide USD$500,000 in growth capital.  Coincident with the close, Grenville purchased USD$350,000 of senior secured Frequentz debt for additional royalty payments, bringing Grenville’s total investment to USD$850,000.

At closing, Grenville received an aggregate payment equal to one year of royalty payments. Following completion of the acquisition, the royalty agreement between Grenville and Frequentz will remain in place.

About Grenville

Based in Toronto, Grenville Strategic Royalty Corp. is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments and buyouts from contracts. The non-dilutive royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.

Frequentz, Inc.

Frequentz provides serialized data, supply chain traceability, and information management software solutions to major food and life sciences companies. Frequentz ’s primary offering, their Information Repository & Intelligence Server, tracks, traces, serializes, verifies, captures, stores, and analyses product event data, at the unit or lot level, as the product moves through the supply chain.

Neither 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.

For further information, please contact:

Grenville Strategic Royalty Corp.:

Steven Parry

Chief Executive Officer

Tel: (416) 777-0383