Business
Silver Crown Announces Grant of Transaction Bonuses
(TheNewswire) NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR ...
About this update from Silver Crown Royalties Inc
[{"type":"text","content":"Silver Crown Announces Grant of Transaction Bonuses\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n NOT INTENDED FOR DISTRIBUTION TO\nUNITED STATES NEWS WIRE SERVICES OR\n \n\n\n\n\n FOR DISSEMINATION IN THE\nUNITED STATES\n \n\n\n\n TORONTO, ON –\n \n\n TheNewswire --\n \n\n August 22, 2024\n \n\n –\nSilver Crown Royalties Inc. (Cboe Canada: SCRI) (“\n \n\n Silver Crown\n \n\n ” or\nthe “\n \n\n Company\n \n\n ”) is pleased to announce that it intends to issue 11,250\ncommon shares of the Company (each, a “\n \n\n Bonus Share\n \n\n ”) at a\ndeemed price per share equal to the market price and cash bonuses in\nthe aggregate amount of C$185,000 to certain officers and directors of\nthe Company. On the recommendation of the Board’s compensation\ncommittee, the Board approved the issuance of the Bonus Shares and\ncash bonuses in recognition of the contributions of those officers and\ndirectors to the success of the Company’s recently completed\ngoing-public transaction and listing of the Company’s common shares\non the Cboe Canada Inc. exchange.\n \n\n\n\n The issuance of the Bonus Shares constitutes a\n\"related party transaction\" as defined in Multilateral\nInstrument 61-101:\n \n\n Protection\nof Minority Securityholders in Special Transactions\n \n\n (\"\n \n\n MI\n61-101\n \n\n \"). The Company is exempt from the\nvaluation and minority shareholder approval requirements of MI 61-101\ncontained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as the fair\nmarket value of the Bonus Shares does not exceed 25% of the Company's\nmarket capitalization, as determined in accordance with MI 61-101. No\nnew insiders will be created, nor will any change of control occur, as\na result of the issuance of the Bonus Shares. The Company did not file\na material change report more than 21 days before the expected closing\nof the Bonus Shares transaction as the details and amounts of the\nbonuses were not finalized until closer to the closing and the Company\nwishes to close the transaction as soon as practicable, which the\nCompany deems reasonable.\n \n\n\n\n ABOUT SILVER CROWN ROYALTIES\nINC.\n \n\n\n\n Founded by industry veterans, SCRi is a\nrevenue-generating silver-only royalty company focusing on silver as\nbyproduct credits. SCRi aims to m...