RE Royalties provides company update and declares quarterly dividend payment to shareholders
VANCOUVER, BC / ACCESSWIRE / July 20, 2021 / RE Royalties Ltd. (TSXV: RE) (“RE Royalties” or the “Company”), a global leader in renewable energy royalty-based financing, is pleased to announce the following corporate updates.
The Company has a strong portfolio of potential royalty funding opportunities and is in advanced talks on several opportunities that have a cumulative transaction value of C $ 46.8 million, and include the following:
Renewable Natural Gas 1: $ 8.5 million loan and royalty acquisition from two renewable natural gas projects located in the United States. The loan will be used to complete the conversion of an existing facility and the construction of a second facility to convert agricultural waste from local dairy farms into renewable natural gas.
Battery Storage 1: Acquisition of $ 12.5 million royalties with a US company to finance the production of utility-scale mobile battery storage units for sale and lease to utilities utilities in the United States.
Battery Storage 2: $ 5.8 million in sale-leaseback and royalty acquisition with a Canadian company to fund a battery-powered electric generator rental program for a major utility located in California. The battery-powered generators are portable and will be used for emergency back-up power to help the utility build grid resiliency during California fire season.
Battery Storage 3: $ 10 million loan and royalty acquisition with a Canadian company to finance the acquisition of a portfolio of operational battery storage projects on a commercial scale and to finance the construction of a second portfolio of battery storage projects, located in Ontario.
Battery Storage 4: As previously announced on March 29, 2021, the Company entered into a non-binding letter of intent for a $ 10 million loan and royalty acquisition with Canigou Molonglo Bess Pty Ltd. (“Canigou”) to finance a megawatt battery storage project located near Canberra, Australia. The Company continues to advance due diligence with Canigou with the goal of closing the transaction in the fourth quarter of this year.
The above pipeline opportunities are always subject to the completion of due diligence to the satisfaction of the Company, the negotiation of final documents, the satisfaction of the usual conditions precedent for each transaction and the approval of the Board. administration of the Company. No guarantee is given that any or all of the opportunities will result in a completed transaction.
Declaration of dividend
The Company is also 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 June 30, 2021.
The distribution is payable on August 25, 2021, to shareholders of record on August 4, 2021.
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 2021 was $ 0.02 per common share.
Bernard Tan, CEO of the company, commented: “The demand for our royalty financing solutions continues to be strong and we are very pleased to be able to provide another dividend to our shareholders. Our team is committed to growing our royalty portfolio and we are currently reviewing a number of different transactions that will provide our investors with a strong and growing return. “
On behalf of the Board of Directors,
About RE Royalties Ltd.
RE Royalties acquires royalties based on revenues from renewable energy production facilities by providing a non-dilutive financing solution to private and publicly traded companies producing and developing renewable energy. RE Royalties is the first to apply this proven business model to the renewable energy sector. The Company currently holds 84 royalties on solar, wind and hydroelectric projects in Canada, Europe and the United States. The Company’s business objectives are to provide shareholders with strong and growing returns, strong capital protection, a high growth rate through reinvestment and a sustainable investment focus.
For more information, please contact:
Renmark Financial Communications Inc.
Daniel Gordon: [email protected]
Phone. : (416) 644-2020 or (212) 812-7680
Talia Beckett: [email protected]
Phone: (778) 374‐2000
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking information and forward-looking statements (collectively, “forward-looking information”) concerning 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, postulate and similar expressions, or are those which, by their nature, refer to future events. This information represents forecasts and actual events or results may differ materially. Forward-looking information may relate to the future prospects of the Company and anticipated events or results and may include statements regarding the Company’s financial results, future financial condition, expected growth in cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, goals, industry trends and growth opportunities. The reader is encouraged to consult the most recent Company documents on SEDAR for a more complete discussion of all applicable risk factors and their potential effects, copies of which can be viewed through the Company’s profile page at ‘address www.sedar.com.
SOURCE: RE Royalties Ltd.
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