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RE Royalties Announces Closing of $8.1 Million Unit Offering
VANCOUVER, BC / ACCESSWIRE / June 15, 2022 / RE Royalties Ltd . (TSXV:RE)(OTCQX:RROYF) ("...
About this update from Re Royalties Ltd.
[{"type":"text","content":"RE Royalties Announces Closing of $8.1 Million Unit OfferingVANCOUVER, BC / ACCESSWIRE / June 15, 2022 / RE Royalties Ltd. (TSXV:RE)(OTCQX:RROYF) (\"RE Royalties\" or the \"Company\"), a global leader in renewable energy royalty-based financing, is pleased to announce that it has closed its marketed offering of units of the Company (\"Units\") previously announced on April 25, 2022 (the \"Offering\").Pursuant to the Offering, the Company issued 9,837,680 Units for gross proceeds of $8,066,898. Each Unit was priced at $0.82 and consist of one (1) common share in the capital of the Company (each a \"Common Share\" and collectively, the \"Common Shares\"), and one (1) common share purchase warrant (each a \"Warrant\" and collectively, the \"Warrants\"). Each Warrant will be exercisable into one (1) Common Share in the capital of the Company (each a \"Warrant Share\" and collectively, the \"Warrant Shares') at an exercise price of $1.10 per Warrant Share for a period of twenty-four (24) months following the closing of the Offering.Integral Wealth Securities Limited and Canaccord Genuity Corp. (the \"Agents\") acted as co-lead and co-bookrunners in connection with the Offering.The Company intends to use the net proceeds from the Offering to finance or re-finance renewable and sustainable energy projects that are intended to reduce or offset green house gas emissions and assist in mitigating the impact of climate change.The Units were offered in all of the provinces of Canada, except Québec, by way of a prospectus supplement dated April 27, 2022 (the \"Prospectus Supplement\") to the Company's short form base shelf prospectus dated June 21, 2021 (the \"Base Shelf Prospectus\"). The Base Shelf Prospectus and the documents incorporated by reference therein, including the Prospectus Supplement and any marketing materials, are available on the Company's SEDAR profile available at www.sedar.com.In connection with the Offering, the Agents received a cash commission equal to $556,957 and the Company also issued compensation warrants to the Underwriters entitling them to purchase an aggregate of 776,250 Common Shares at a price of $0.82 per share for a period of two years following closing.The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be of...