RE Royalties Declares Payment of Quarterly Dividend and Adoption of Shareholder Rights Plan
VANCOUVER, BC /ACCESSWIRE/April 6, 2022/ RE Royalties Ltd. (TSX.V: RE) ROYF (“RE Royalties” or the “Company”) is pleased to announce that the Board of Directors of the Company has declared a cash distribution of $0.01 per issued and outstanding common share for the quarter ending March 2022.
The distribution is payable on May 11, 2022 to shareholders of record on April 20, 2022. The distribution is designated by the Company as a dividend for the purposes of the Income Tax Act (Canada) and any similar provincial or territorial legislation. The cumulative amount of dividends declared for fiscal 2022 was $0.01 per common share.
Bernard Tan, CEO of the company, said: “We are delighted to announce another dividend payout. Demand for our royalty financing solutions continues to be very strong and we continue to see accretive growth in our investment portfolio.
Adoption of shareholder rights plan
The Company also announces that its Board of Directors has adopted a shareholder rights plan (the “Shareholder Rights Plan”) to help ensure the fair treatment of all RE Royalties shareholders in connection with any public offering. purchase of the outstanding common shares of the Company. .
The shareholder rights plan is effective immediately but is subject to ratification by the shareholders of the Company at its 2022 annual general meeting. If ratified, the shareholder rights plan would have a term of three years.
The shareholder rights plan is similar to rights plans adopted by other Canadian corporations and ratified by their shareholders. It was not adopted in response to any specific proposal or intention to acquire control of the Company.
The Board of Directors considered a number of factors in adopting the Shareholder Rights Plan. The Board of Directors believes that the Shareholder Rights Plan benefits shareholders by providing them with a significantly greater opportunity to protect the interests of all shareholders in the event that the Company is challenged through a hostile takeover bid.
The Shareholder Rights Plan is subject to customary stock exchange approval and execution of a definitive agreement with the Company’s transfer agent. A copy of the Shareholder Rights Plan will be available upon execution from the Transfer Agent under the Company’s profile at www.sedar.com.
On behalf of the Board of Directors,
About RE Royalties Ltd.
RE Royalties Ltd. acquires revenue-based royalties from renewable energy installations and technologies by providing a non-dilutive financing solution to private and publicly traded companies in the renewable energy sector. RE Royalties is the first to apply this proven business model to the renewable energy sector. The Company currently holds 100 royalties on solar, wind, hydroelectric, battery storage and renewable natural gas projects in Canada, Europe and the United States. The Company’s business objectives are to provide shareholders with strong growth returns, strong protection of capital, a high rate of growth through reinvestment and a sustainable investment orientation.
For more information, please contact:
Renmark Financial Communications Inc.
Joshua Lavers: [email protected]
Tel: (416) 644-2020 or (212) 812-7680
RE Royalties Ltd.
Talia Beckett: [email protected]
Tel: (778) 374-2000
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulator or trading platform, accepts responsibility for the relevance or accuracy of this release.
This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction, and there will be no offer or sale of securities in any jurisdiction in which such offer, solicitation or sale would be illegal. The securities offered have not been approved or disapproved by any regulatory authority and none of such authorities has passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement. The offer and sale of the securities has not been and will not be registered under the United States Securities Act of 1933, as amended (the “United States Securities Act”) or any law securities regulations and may not be offered or sold in the United States. or to United States persons who are not registered or who do not benefit from an applicable exemption from the registration requirements of United States securities law and applicable state securities laws.
This press release contains forward-looking information and forward-looking statements (collectively, “forward-looking information”) about the Company and within the meaning of Canadian securities laws. Forward-looking information is generally identified by words such as: believe, expect, anticipate, intend, estimate, assume and similar expressions, or are those which by their nature refer to future events. . This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company’s future prospects and anticipated events or results and may include statements regarding the Company’s financial results, future financial condition, expected cash flow growth, business strategy, budgets, expected costs, planned capital expenditures, taxes, plans, goals, industry trends and growth opportunities, including financing. The reader is invited to consult the most recent documents filed by the Company on SEDAR as well as other information filed with the over-the-counter markets for a more complete discussion of all the applicable risk factors and their potential effects, including copies can be viewed on the Company’s profile page at www. .sedar.com.
THE SOURCE: RE Royalties Ltd.
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