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RE Royalties Announces Increase to Private Placement of Canadian Dollar Series 3 Secured Green Bonds
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES VANC...
About this update from Re Royalties Ltd.
[{"type":"text","content":"RE Royalties Announces Increase to Private Placement of Canadian Dollar Series 3 Secured Green BondsNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / February 27, 2023 / RE Royalties Ltd. (TSX.V:RE)(OTCQX:RROYF) (\"RE Royalties\" or the \"Company\"),a global leader in renewable energy royalty-based financing announces, further to its news release dated January 27, 2023 regarding the non-brokered private placement offering (the \"Private Placement\") of Series 3 secured green bonds of the Company (the \"Green Bonds\"), that the Company is seeking to increase the maximum allocation of Canadian dollar denominated Green Bonds from C$8,000,000 to C$10,000,000 (the \"Upsize\"). The maximum amount the Company is seeking to raise for the U.S. dollar denominated Green Bonds remains the same at US$5,000,000.In conjunction with the Company's announcement on December 9, 2022 regarding the public offering of Green Bonds (the \"Public Offering\", and together with the Private Placement, the \"Offering\"), there is no change to the maximum proceeds of up to C$23,000,000 that the Company intends to raise under the Offering. As previously announced by the Company on February 6, 2023 and January 30, 2023, the Company has issued an aggregate of 11,714 Canadian dollar denominated Green Bonds, with a principal amount of C$1,000 per Green Bond for aggregate gross proceeds of C$11,714,000, and 272 United States dollar denominated Green Bonds, with a principal amount of US$1,000 per Green Bond for aggregate gross proceeds of US$272,000.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 closing of the Private Placement, the Company has agreed to pay certain parties a corporate advisory fee consisting of a to be determined amount of cash and warrants of the Company (the \"Warrants\"). Each Warrant will be exercisable into one common share of the Company at an exercise price of $0.75 per common share for a period of 36 months from the date of issuance. All securities issued under the Private Placement will be subject to a statutory hold period expiring four month...