RE Royalties Enters into USD $3.2 Million Loan and Royalty Agreement with Cleanlight for Solar Battery Storage Systems in Latin America
All amounts in US dollars unless otherwise stated
VANCOUVER, BC / ACCESSWIRE / August 8, 2023 / RE Royalties Ltd. (TSX.V:RE)(OTCQX:RROYF) ("RE Royalties" or the "Company"), a global leader in renewable energy royalty-based financing, has entered into a USD 3.2 million loan and royalty acquisition agreement with Butler Corporation SpA (DBA "Cleanlight"), a high-growth Chilean technology company and manufacturer of mobile solar-battery systems including solar lighting towers ("Solar Towers"), and solar-hybrid battery generators ("SolBox").
The loan will be drawn in two tranches, with a term of 2 years and an interest rate of
The loan facility will provide working capital and finance Cleanlight's expansion into other countries in Latin America.
Cleanlight was founded in 2019 in response to customer needs in the mining sector for off-grid lighting and communications towers without the cost, emissions, and maintenance challenges of diesel-powered options. Cleanlight's Solar Towers are priced competitively to diesel options, passing significant fuel and maintenance cost savings on to the customer in addition to environmental benefits. Cleanlight has generated approximately
"This investment provides RE Royalties with the opportunity to provide essential growth capital to a high growth company in an underserved financial market. We are excited to enter the South American market and look forward to working with the Cleanlight team to help its customers save money and reach their net zero goals," said Bernard Tan, CEO of RE Royalties.
"Partnering with RE Royalties will allow Cleanlight to scale up operations, grow sales and expand market presence in the mining sector, which is desperately seeking sustainable solutions," said Jordan Butler, CEO of Cleanlight. "Cleanlight offers commercial, consumer and industrial customers a reliable and easy transition to renewable energy solutions to meet their needs in real time."
On Behalf of the Board of Directors,
Bernard Tan
CEO
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:
Media Contact:
RE Royalties Ltd.
Talia Beckett, VP of Communications and Sustainability
T: (778) 374‐2000
E: taliabeckett@reroyalties.com
www.reroyalties.com
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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 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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https://www.accesswire.com/772364/RE-Royalties-Enters-into-USD-32-Million-Loan-and-Royalty-Agreement-with-Cleanlight-for-Solar-Battery-Storage-Systems-in-Latin-America
