RE Royalties closes book for $3.4-million financing

Executive Summary

• RE Royalties Ltd. has closed the book on its previously announced non-brokered private placement offering, which was fully subscribed by strategic investors.
• The company raised up to $3.4 million in aggregate gross proceeds from the sale of up to 10,625,000 units.
• The offering was conducted under the listed issuer financing exemption, and the proceeds are designated for working capital and general corporate purposes.

Key Details

• Transaction Structure: Non-brokered private placement offering of units.
• Quantity: Up to 10,625,000 units.
• Price: 32 cents per unit.
• Gross Proceeds: Up to $3.4 million.
• Subscription Status: Fully subscribed by strategic investors.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant is exercisable into one common share at an exercise price of 45 cents per warrant for a period of 36 months.
• Regulatory Basis: Offered pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions, as amended by Coordinated Blanket Order 45-935.
• Jurisdictions: Ontario, British Columbia, Alberta, and certain other jurisdictions.
• Resale Restrictions: Units are not subject to resale restrictions pursuant to applicable Canadian securities laws.
• Use of Proceeds: Working capital and general corporate purposes.
• Conditions: Closing is subject to conditions including receipt of necessary approvals, specifically the approval of the TSX Venture Exchange.

Notable Quotes

• None provided in the text.