Fintech
Royalty North Announces Early Repayment of Loan from Blue 360 Media, LLC (“Blue”)
Vancouver, British Columbia–(Newsfile Corp. – October 18, 2021) – Royalty North Partners Ltd. (TSXV: RNP) (“RNP” or the “Company“) announces that in accordance with the Loan Agreement between Blue and RNP as entered into on March 31, 2017, Blue has chosen to voluntarily prepay the Loan in its entirety. Under the terms of the Loan Agreement, Blue has repaid US$2,952,011. RNP had originally advanced US$2,000,000 to Blue upon entering into the Loan Agreement.
The Company now has one remaining royalty investment, Advanced Wire Products. AWP pays RNP on a monthly basis in accordance with the royalty agreement between themselves and the Company.
The Company has no debt and currently has a cash balance of approximately C$4,400,000.
On behalf of the Company,
“Justin Currie“
Chief Executive Officer and Director
About Royalty North Partners Ltd.
Royalty North Partners (“RNP”) is a Vancouver, BC based, TSXV-listed company which has previously focused on creating a diversified portfolio of cash flowing royalties by providing financing to private businesses with gross revenues in excess of $10 million. In return for the investment, RNP typically received as consideration a percentage of the future gross sales.
For more information, please contact:
Victoria McMillan, Chief Financial Officer
Royalty North Partners Ltd.
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.
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/99970