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RE Royalties Announces Final Closing of Private Placement of Series 3 Secured Green Bonds
Not for distribution to U.S. Newswire services or for dissemination to the United States VANCOU...
About this update from Re Royalties Ltd.
[{"type":"text","content":"RE Royalties Announces Final Closing of Private Placement of Series 3 Secured Green BondsNot for distribution to U.S. Newswire services or for dissemination to the United StatesVANCOUVER, BC / ACCESSWIRE / April 3, 2023 / 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 the successful final closing (the \"Final Closing\") of its non-brokered private placement offering (the \"Private Placement\") of Series 3 senior secured green bonds of the Company (the \"Green Bonds\"), as previously announced on January 27, 2023, and subsequently upsized as per the Company's announcement of February 27, 2023.Pursuant to the Final Closing, the Company issued 297 Canadian dollar denominated Green Bonds, with a principal amount of $1,000 per Green Bond for aggregate gross proceeds of $297,000.When taken in total aggregate, including both: (i) the Company's marketed public offering Green Bonds, which closed a first tranche and second and final tranche on January 30, 2023 and February 28, 2023, respectively, and (ii) the Private Placement, the Company has issued a total of 16,423 Canadian dollar denominated Green Bonds for aggregate gross proceeds of $16,423,000 and 1,242 United States dollar denominated Green Bonds for aggregate gross proceeds of US$1,242,000.The Green Bonds will have a maturity date of January 30, 2028, and bear interest at a rate of 9% per annum, payable quarterly, and will be senior obligations of the Company secured against the Company's portfolio of royalty and loan investments.In connection with the Final Closing of the Private Placement, the Company has paid a corporate advisory fee to certain parties consisting of $20,790 in cash, and the issuance of 13,860 warrants. Each warrant will entitle the holder thereof to acquire one common share of the Company at an exercise price equal to $0.75 for a period of 36 months from the date of the Final Closing.The Green Bonds were issued under a supplemental trust indenture dated January 30, 2023 (the \"Supplemental Indenture\") to the Company's existing green bond trust indenture (the \"Indenture\") dated August 10, 2020 with Western Pacific Trust Company, as trustee. A copy of the Indenture and the Supplemental Indenture are available on the Company's SEDAR profile at ww...