Diversified Royalty Corp. Announces Increase of Previously Announced Bought Deal Public Offering of Common Shares to $40,000,800

About this update from Diversified Royalty Corp.

[{"type":"text","content":"\n \n \n \n Diversified Royalty Corp. Announces Increase of Previously Announced Bought Deal Public Offering of Common Shares to $40,000,800\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n \n /\n \n \n \n \n \n VANCOUVER, BC\n \n \n ,\n \n \n Nov. 15, 2022\n \n \n /CNW/ - Diversified Royalty Corp. (TSX: DIV); (TSX: DIV.DB) and (TSX: DIV.DB.A) (the \"\n \n Corporation\n \n \" or \"\n \n DIV\n \n \") is pleased to announce that, due to strong demand, DIV has entered into a revised agreement with Cormark Securities Inc., which is leading a syndicate of underwriters (collectively, the \"\n \n Underwriters\n \n \"), to increase the size of its previously announced bought deal offering of common shares. Under the revised Agreement the Underwriters have agreed to purchase 14,286,000 Common Shares (the \"\n \n Common Shares\n \n \") from the treasury of the Corporation, at a price of\n \n $2.80\n \n per Common Share (the \"\n \n Offering Price\n \n \") for total gross proceeds of approximately\n \n $40,000,800\n \n (the \"\n \n Offering\n \n \").\n \n \n In addition, the Corporation has granted the Underwriters an option (the \"\n \n Over-Allotment Option\n \n \") to purchase up to an additional 2,142,900 Common Shares from the treasury of the Corporation at the Offering Price for additional gross proceeds of up to approximately\n \n $6,000,120\n \n for market stabilization purposes and to cover over-allotments, if any. The Over-Allotment Option is exercisable, in whole or in part, by the Underwriters at any time up to 30 days following the closing of the Offering.\n \n \n The net proceeds of the Offering will be used for repayment of outstanding amounts under DIV's acquisition line following DIV's indirect acquisition of the worldwide trademark portfolio and certain other intellectual property rights utilized by SBS Franchising, LLC in its business of offering, managing and operating m...

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