Royalty North Announces Closing of Private Placement Financing

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Vancouver, British Columbia–(Newsfile Corp. – July 13, 2020) –  Royalty North Partners Ltd. (TSXV: RNP) (“RNP” or the “Company“) is pleased to announce that, further to its press releases dated June 26, 2020 and June 29, 2020, it has closed the non-brokered private placement financing (the “Private Placement“) by issuing 2,289,140 units (the “Units“) for gross proceeds of C$572,285.

Each Unit shall consist of one common share in the capital of the Company and one-half of one common share purchase warrant (the “Warrant“). Each whole Warrant will entitle the holder to purchase, for a period of five years from the date of issuance, one additional common share of the Company (each, a “Warrant Share“) at an exercise price of C$0.35 per Warrant Share.

The proceeds of the Private Placement will be used for potential investments and general corporate purposes. All securities issued pursuant to the Private Placement will be subject to a hold period expiring on November 13, 2020.

Certain directors of the Company subscribed for 544,000 Units in the financing. The transaction is exempt from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 (“MI 61-101“) in reliance on the exemptions set forth in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities to be distributed in the Private Placement nor the consideration to be received for those securities, in so far as the Private Placement involves the insiders, exceeds 25% of the market capitalization. The Board of Directors approved the Private Placement by resolutions on which the Directors did not vote with respect to their participation in the Private Placement.

The Company did not file a material change report more than 21 days before the expected closing of the Private Placement as the details of the Private Placement and the participation therein by related parties of the Company were not settled until shortly prior to closing and the Company wished to close on an expedited basis for sound business reasons.

On behalf of the Company,
Justin Currie
Chief Executive Officer and Director

About Royalty North Partners Ltd.

RNP is a TSXV-listed company, which has previously been focused on creating a diversified portfolio of cash flowing royalties by providing financing to private businesses with gross revenues in excess of $10 million. RNP typically invested in companies with stable cash flows in non-resource-based sectors looking for growth/acquisition capital, recapitalization or succession liquidity. In return for the investment, RNP typically receives as consideration a percentage of the future gross sales.

For more information, please contact:

Victoria McMillan, Chief Financial Officer
Royalty North Partners Ltd.
Email: vmcmillan@royaltynorth.com
Phone: (604) 628-1033
www.royaltynorth.com

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This press release includes “forward-looking information” that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management’s best judgment based on information currently available.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/59692