Re Royalties Stock Price, News & Analysis

RE Royalties has entered into a loan and royalty agreement with SolarBank 's subsidiary, providing a CAD $3.0 Million secured loan for three 4.99 MW Battery Energy Storage System projects in Ontario. The 12-month loan carries an 11% annual interest rate and includes a 0.40% royalty on gross revenues for the projects' 20-year lifetime, reducible to 0.25% if repaid within six months. The projects have long-term contracts with Ontario's Independent Electricity System Operator under the E-LT1 program. The borrower holds 50% interest in the projects, with First Nations communities holding the remaining 50%.

RE Royalties announced the distribution of Meeting Materials for its Annual General Meeting scheduled for December 13, 2024, at 10:00 am PST in Vancouver. Due to a Canada Post labour dispute, shareholders may experience delivery delays. Meeting materials are available on SEDAR+ and the company's website. Registered shareholders can obtain proxy form control numbers from Computershare, while those holding shares through intermediaries should contact their brokers. The voting deadline is set for December 11, 2024, at 10:00 am Pacific Time.

RE Royalties has entered into a loan agreement with Abraxas Power to provide up to CAD $10 Million for solar projects in the Maldives. The first tranche of CAD $1.4 Million closed on November 18, 2024, funding two rooftop solar projects with 0.77 MWDC capacity. The loan features a 13% annual interest rate and an 18-month term, plus a 2% gross revenue royalty.

Additionally, RE Royalties settled outstanding loans with Switch Power, acquiring full ownership of SPOBOC's nine battery storage projects (5.3MW/12.3MWh) and SPOSOC's 428 kWdc rooftop solar project.

RE Royalties has announced the second tranche closing of its Series 4 senior secured green bonds private placement, raising $1,725,000 CAD and US$140,000. Combined with the initial closing, the total raised amounts to $5,879,000 CAD and US$340,000. The Green Bonds mature on August 29, 2029, offering a 9% annual interest rate paid quarterly. The proceeds will finance renewable and sustainable energy projects aimed at reducing greenhouse gas emissions. The bonds are secured against the company's royalty and loan investment portfolio.

RE Royalties (TSXV:RE)(OTCQX:RROYF) has declared a cash distribution of $0.01 per common share for the third quarter ending September 30, 2024. The dividend is payable on November 20, 2024, to shareholders of record on October 30, 2024. This marks the 23rd consecutive quarterly dividend for the company. The cumulative dividend for the 2024 fiscal year has reached $0.03 per common share.

CEO Bernard Tan highlighted the company's consistent growth over the past six years and strong investor support. RE Royalties, the first to apply a revenue-based royalty model in the renewable energy sector, currently owns over 100 royalties on various renewable energy projects across North America, Mexico, and Europe.

RE Royalties (TSXV:RE)(OTCQX:RROYF), a global leader in renewable energy royalty-based financing, has announced a change in its auditors. Deloitte LLP has resigned as the company's auditor, effective September 23, 2024, and has been replaced by Davidson & Company LLP on the same date. The change was initiated at the company's request and approved by both the board of directors and the audit committee.

The company confirms that there are no reservations, modified opinions, or reportable events related to Deloitte LLP's previous audits. In compliance with National Instrument 51-102, the Notice of Change of Auditor and required letters from both auditors have been reviewed by the audit committee and board of directors and filed on SEDAR+.

RE Royalties specializes in acquiring revenue-based royalties from renewable energy projects, currently owning over 100 royalties across various renewable energy sectors in Canada, United States, Mexico, and Chile.

RE Royalties (TSX.V:RE)(OTCQX:RROYF), a global leader in renewable energy royalty-based financing, has been ranked No. 136 on the 2024 Report on Business magazine's ranking of Canada's Top Growing Companies. The company achieved this recognition with a three-year revenue growth of 314%. This marks the second time RE Royalties has been included in this prestigious list.

CEO and Co-Founder Bernard Tan expressed pride in this achievement, attributing it to the team's hard work and commitment to providing innovative solutions for renewable energy projects. The ranking, which includes 416 companies this year, is based on a voluntary application process and specific revenue requirements.

RE Royalties currently owns over 100 royalties on various renewable energy projects across Canada, United States, Mexico, and Chile, including solar, wind, hydro, battery storage, energy efficiency, and renewable natural gas initiatives.

RE Royalties (TSX.V:RE)(OTCQX:RROYF) has announced the initial closing of its private placement of Series 4 senior secured green bonds. The company issued 3,804 Canadian dollar denominated Green Bonds for $3,804,000 and 50 US dollar denominated Green Bonds for US$50,000. Additionally, through a non-brokered private placement, RE Royalties issued 350 Canadian dollar Green Bonds for $350,000 and 150 US dollar Green Bonds for US$150,000.

The Green Bonds have a five-year term with a 9% annual interest rate, payable quarterly. Net proceeds will finance renewable and sustainable energy projects. Integral Wealth Securities and Canaccord Genuity Corp. acted as agents for the placement. The company paid $266,280 and US$3,500 in fees and issued 269,780 Broker Warrants.

RE Royalties (TSXV:RE)(OTCQX:RROYF) announced its Q2 2024 financial results. Key highlights include:

- Quarterly revenue of $1,828,000, down 47% year-over-year due to a one-time royalty buyout in the prior year.
- Year-to-date revenue of $4,465,000, down 15% year-over-year.
- Quarterly EBITDA of $524,000, down 76% year-over-year.
- Quarterly net loss of $657,000, compared to net income of $1,123,000 in Q2 2023.
- Cash and cash equivalents of $13,210,000 as of June 30, 2024.

CEO Bernard Tan stated that while Q2 was quiet for transactions, the company has advanced due diligence on several investment opportunities and expects to grow revenue, EBITDA, and cash flows in coming quarters.