RE Royalties Enters into CAD $4.0 Million Loan and Royalty Agreement with Revolve Renewable Power

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RE Royalties Ltd. enters into a CAD $4.0 million secured loan agreement with Revolve Acquisition Corp. to support the acquisition of WindRiver Power Corporation. The loan will bear interest at 12% per annum and have a term of 36 months. This is RE Royalties' third transaction with Revolve.

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• RE Royalties strengthens partnership with Revolve through CAD $4.0 million loan agreement

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All amounts in Canadian dollars unless otherwise stated

VANCOUVER, BC / ACCESSWIRE / October 4, 2023 / RE Royalties Ltd. (TSXV:RE)(OTCQX:RROYF) ("RE Royalties" or the "Company"), a global leader in renewable energy royalty financing, has entered into an agreement with Revolve Acquisition Corp. (the "AcquisitionCo"), a wholly owned subsidiary of Revolve Renewable Power Corp. (TSXV:REVV) ("Revolve"), to provide a CAD $4.0 million secured loan (the "Loan"). Revolve is a North American renewable energy developer with 2.8 GW of wind, solar, and battery projects under development in the USA and Mexico.

The Loan will support AcquisitionCo's proposed acquisition of WindRiver Power Corporation ("WindRiver") a Canadian based owner, operator and developer of wind and hydro projects (the "Proposed Acquisition"). WindRiver has a minority ownership (21%) in two operational run-of-river hydro projects in British Columbia, and a majority ownership (51%) in an operational wind project in Alberta with a combined gross capacity of 23 MW (the "Operational Projects"). WindRiver also has majority ownerships (70 to 87.5%) in two development-stage hydro projects in British Columbia with a combined gross capacity of 90 MW.

Completion of the Proposed Acquisition is subject to certain conditions, including the final acceptance by the TSX Venture Exchange (the "TSXV"), receipt of WindRiver shareholder approval, receipt of a final order approving the Arrangement from the Court of King's Bench of Alberta, Judicial Centre of Calgary (the "Final Order") and other customary closing conditions.

The Operational Projects receive revenue from Power Purchase Agreements ("PPAs") with BC Hydro and the City of Medicine Hat, for the hydro projects and the wind project, respectively. The Operational Projects have PPAs with remaining terms ranging from 32-35 years for the hydro projects and 11 years for the wind project.

The Loan will have a term of 36 months and bear interest at the rate of 12% per annum, compounded monthly, and payable semi-annually. The Company will receive a structuring fee of 1.0% on the Loan value at closing, and a gross revenue royalty of 0.5% on the Operating Projects during the term of the Loan, growing to a gross revenue royalty of 1.0% upon repayment of the Loan for the remaining life of the PPAs.

This Loan represents RE Royalties' third transaction with Revolve, with the Company previously providing Revolve with a $1.6 Million loan to support its acquisition of an operational rooftop solar portfolio in Mexico, and a $1.9 Million loan to support the procurement of battery energy storage systems for three energy storage projects in Mexico.

Bernard Tan, CEO of RE Royalties, stated: "We're pleased to continue our partnership with Revolve and look forward to working with them on their growing portfolio of renewable energy projects. This investment presents an excellent opportunity for our investors and highlights the sustained demand for our innovative financing solutions."

On Behalf of the Board of Directors,

Bernard Tan
CEO

About Revolve Renewable Power
Revolve Renewable Power Corp. is working to develop utility scale renewable energy generation projects in North America, focused on wind, solar and battery storage technologies. Revolve currently has a portfolio of 2.9 gigawatts ("GW") of projects under active development and a further 2GW of greenfield opportunities, in the process of converting to its pipeline in the near term. Revolve is in the process of expanding its pipeline and development activities in the US and is targeting an active portfolio of up to 5GWs under development.

About RE Royalties Ltd.
RE Royalties Ltd. acquires revenue-based royalties over renewable energy facilities and technologies by providing non-dilutive financing solutions 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, 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:

Investor and Media Contact:
Melanee Henderson, Investor Relations
T: (778) 373-6731 TF 800-667-2114
E: melaneehenderson@reroyalties.com

Talia Beckett, Vice President of Communications
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.

This news release shall not constitute an offer to sell or the solicitation of an offer 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 being offered have not been approved or disapproved by any regulatory authority nor has any such authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the prospectus supplement. The offer and sale of the securities has not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold in the United States or to United States persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws.

Forward-Looking Statements
This news release includes forward-looking information and forward-looking statements (collectively, "forward-looking information") with respect to the Company and within the meaning of Canadian securities laws. Forward-looking information is typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. This information represents predictions and actual events or results may differ materially. Forward-looking information may relate to the Company's future outlook and anticipated events or results and may include statements regarding the Company's financial results, future financial position, expected growth of cash flows, business strategy, budgets, projected costs, projected capital expenditures, taxes, plans, objectives, industry trends and growth opportunities including financing. The reader is referred to the Company's most recent filings on SEDAR as well as other information filed with the OTC Markets for a more complete discussion of all applicable risk factors and their potential effects, copies of which may be accessed through the Company's profile page at www.sedar.com.

SOURCE: RE Royalties Ltd.

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