RE Royalties Announces Second Tranche Closing of Private Placement of Series 4 Secured Green Bonds
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 ha annunciato la chiusura della seconda tranche della sua emissione privata di green bonds senior garantiti di Serie 4, raccogliendo 1.725.000 CAD e 140.000 USD. Combinato con la chiusura iniziale, il totale raccolto ammonta a 5.879.000 CAD e 340.000 USD. I Green Bonds scadono il 29 agosto 2029, offrendo un tasso d'interesse annuo del 9% pagato trimestralmente. I proventi finanzieranno progetti di energia rinnovabile e sostenibile volti a ridurre le emissioni di gas serra. I bond sono garantiti dal portafoglio di investimenti in royalties e prestiti della società.
RE Royalties ha anunciado el cierre de la segunda ronda de su colocación privada de bonos verdes garantizados senior de la Serie 4, recaudando $1,725,000 CAD y $140,000 USD. Combinado con el cierre inicial, el total recaudado asciende a $5,879,000 CAD y $340,000 USD. Los Bonos Verdes vencen el 29 de agosto de 2029, ofreciendo un tasa de interés anual del 9% pagada trimestralmente. Los fondos se destinarán a financiar proyectos de energía renovable y sostenible destinados a reducir las emisiones de gases de efecto invernadero. Los bonos están garantizados por la cartera de inversiones en regalías y préstamos de la compañía.
RE Royalties는 시리즈 4의 선순위 보증 그린 본드 개인 배치를 통해 1,725,000 CAD와 140,000 USD의 두 번째 분할 마감을 발표했습니다. 초기 마감을 포함하면 총액은 5,879,000 CAD와 340,000 USD에 달합니다. 그린 본드는 2029년 8월 29일 만료되며, 연 9%의 이율을 분기별로 지급합니다. 수익금은 온실가스 배출을 줄이기 위한 재생 가능 에너지 및 지속 가능한 에너지 프로젝트를 자금 지원하는 데 사용됩니다. 본드는 회사의 로열티 및 대출 투자 포트폴리오에 대해 보증됩니다.
RE Royalties a annoncé la clôture de la deuxième tranche de son placement privé d'obligations vertes senior garanties de la série 4, levant 1.725.000 CAD et 140.000 USD. En combinant cela avec la clôture initiale, le montant total s'élève à 5.879.000 CAD et 340.000 USD. Les obligations vertes arrivent à échéance le 29 août 2029 et offrent un taux d'intérêt annuel de 9% payé trimestriellement. Les produits financeront des projets d'énergie renouvelable et durable visant à réduire les émissions de gaz à effet de serre. Les obligations sont garanties par le portefeuille d'investissements en redevances et prêts de la société.
RE Royalties hat den Abschluss der zweiten Tranche seiner privaten Platzierung von senior gesicherten grünen Anleihen der Serie 4 bekannt gegeben, bei dem 1.725.000 CAD und 140.000 USD gesammelt wurden. In Kombination mit dem anfänglichen Abschluss ergibt sich ein Gesamtergebnis von 5.879.000 CAD und 340.000 USD. Die grünen Anleihen haben eine Laufzeit bis zum 29. August 2029 und bieten einen jährlichen Zinssatz von 9%, der vierteljährlich gezahlt wird. Die Erlöse dienen der Finanzierung erneuerbarer und nachhaltiger Energieprojekte, die darauf abzielen, Treibhausgasemissionen zu reduzieren. Die Anleihen sind durch das Portfolio der Gesellschaft an Lizenzgebühren und Darlehensinvestitionen gesichert.
- Successful fundraising of $1,725,000 CAD and US$140,000 in second tranche
- Total green bonds placement reached $5,879,000 CAD and US$340,000
- Attractive 9% annual interest rate for investors
- Bonds are secured against company's royalty and loan portfolio
- Significant debt obligation with 9% interest payment requirements
- Dilution potential through 130,550 broker warrants issued
All amounts in Canadian dollars unless otherwise stated
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION TO THE UNITED STATES
VANCOUVER, BC / ACCESSWIRE / November 13, 2024 / RE Royalties Ltd. (TSXV:RE)(OTCQX:RROYF) ("RE Royalties" or the "Company"), a global leader in renewable energy royalty-based financing, is pleased to announce the successful second tranche closing (the "Second Closing") of its marketed private placement offering (the "Private Placement") of the Series 4 senior secured green bonds of the Company (the "Green Bonds"), as previously announced on July 4, 2024. The first tranche closing of the Private Placement was announced on August 29, 2024.
Pursuant to the Second Closing, the Company issued 1,725 Canadian dollar denominated Green Bonds, with a principal amount of
Together with the initial closing of the Private Placement, and the concurrent non-brokered private placement of Green Bonds that closed on August 29, 2024, the Company has issued an aggregate of 5,879 Canadian dollar denominated Green Bonds for aggregate gross proceeds of
The Green Bonds have a maturity date of August 29, 2029 and bear interest at a rate of
Net proceeds from the Green Bonds will be utilized to finance or re-finance renewable and sustainable energy projects that are anticipated to reduce or offset green house gas emissions and assist in mitigating the impact of climate change. The Company has prepared a 2024 Green Bond Framework that is aligned with the International Capital Market Association Green Bond Principles (2021), which framework is available on the Company's website at https://www.reroyalties.com/greenbonds.
Integral Wealth Securities Limited acted as the sole bookrunner and co-lead agent alongside Canaccord Genuity Corp. as co-lead agent (together, the "Agents") for the Private Placement. In connection with the Second Closing, the Company paid the Agents a cash fee of
The securities issued under the Second Closing are subject to a four-month and one day hold period expiring March 14, 2025 in accordance with securities laws.
This news release shall not constitute an offer to sell or the solicitation of any offers to buy the securities in any jurisdiction, nor shall there be any offer or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. The securities have not been and will not be registered under the Securities Actor any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any U.S. persons or any persons in the United States.
On Behalf of the Board of Directors,
Bernard Tan
CEO
About RE Royalties Ltd.
RE Royalties Ltd. acquires revenue-based royalties from renewable energy facilities and technologies by providing a non-dilutive financing solution to privately held and publicly traded companies in the renewable energy sector. RE Royalties is the first to apply this proven business model to the renewable energy sector. The Company currently owns over 100 royalties on solar, wind, hydro, battery storage, energy efficiency and renewable natural gas projects in Canada, United States, Mexico, and Chile. The Company's business objectives are to provide shareholders with a strong growing yield, robust capital protection, high rate of growth through re-investment and a sustainable investment focus.
For further information, please contact:
Talia Beckett, Vice President of Communications and Sustainability
T: (778) 374‐2000
E: taliabeckett@reroyalties.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange), nor any other regulatory body or securities exchange platform, accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This news release includes certain statements that may be deemed "forward-looking information" or "forward- looking statements" within the meaning of Canadian and United States securities law. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions of future events or performance (often, but not always, using words or phrases including, but not limited to, "expects", "does not expect", "is expected", "anticipates", "does not anticipate", "plans", "estimates", "believes", "does not believe" or "intends", or stating that certain actions, events or results may, could, would, might or will be taken, occur or be achieved) are not statements of historical fact and may be "forward-looking information". This information represents predictions, and actual events or results may differ materially.
Forward-looking information in this news release may relate to the Private Placement, including, but not limited to, statements with respect to the anticipated use of net proceeds. Forward-looking information contained in this discussion is based on certain assumptions regarding Private Placement, including, but not limited to, the assumption that additional tranches may be completed on the terms described in this news release, or at all.
While management considers these assumptions to be reasonable, based on information available, they may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks, uncertainties and other factors include, but are not limited to risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future legislative and regulatory developments involving the renewable energy industry; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the renewable energy industry generally; income tax and regulatory matters; the ability of the Company to implement its business strategies including expansion plans; competition; currency and interest rate fluctuations; and the other risks discussed under the heading "Risk Factors" in the Company's annual information form dated May 2, 2024. The foregoing factors are not intended to be exhaustive.
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date hereof and the Company and its directors, officers and employees disclaim any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, you should not place undue reliance on forward-looking statements due to the inherent uncertainty therein. All forward-looking information is expressly qualified in its entirety by this cautionary statement. Any forward-looking statements contained in this discussion are made as of the date hereof and the Company does not undertake to update or revise them, except as may be required by applicable securities laws.
SOURCE: RE Royalties Ltd.
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FAQ
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