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Strategies & Market Trends : Dino's Bar & Grill -- Ignore unavailable to you. Want to Upgrade?

To: Goose94 who wrote (7368)	7/17/2014 8:34:20 AM
From: Goose94	Read Replies (1) \| Respond to of 202843

Grenville Strategic Royalty (GRC-V) July 10, '14 has closed its previously announced offering of $15-million aggregate principal amount of convertible unsecured subordinated debentures at a price of $1,000 per debenture. The offering was completed on a bought-deal basis with a syndicate of underwriters led by National Bank Financial Inc. The underwriters have been granted an overallotment option to purchase up to an additional $2.25-million aggregate principal amount of debentures at the same price, exercisable in whole or in part at any time for a period of up to 30 days following closing of the offering, to cover overallotments and for market stabilization purposes. The debentures will bear interest from the date of issue at 8 per cent per annum, payable semi-annually in arrears on June 30 and Dec. 31 in each year commencing Dec. 31, 2014. The debentures will have a maturity date of Dec. 31, 2019. The debentures will be convertible at the holder's option at any time prior to the close of business on the earlier of the maturity date and the business day immediately preceding the date specified by the company for redemption of the debentures into common shares at a conversion price of 92 cents per common share, being a conversion rate of 1,086.9565 common shares for each $1,000 principal amount of debentures. The debentures will be direct, unsecured obligations of the company, subordinated to other indebtedness of the company for borrowed money and ranking equally with all other unsecured subordinated indebtedness. The debentures will not be redeemable before Dec. 31, 2017. On or after Dec. 31, 2017, but prior to the maturity date, the company may, at its option, redeem the debentures, in whole or in part, at a price equal to the principal amount of the debentures plus all accrued and unpaid interest up to but excluding the date of redemption. As consideration for their services in connection with the offering, the company has paid the underwriters a cash commission equal to 6 per cent of the gross proceeds of the offering. As previously announced, the company intends to use the net proceeds from the offering for the future purchase of revenue royalties in the company's target markets. An insider of the company participated in the offering, thereby making the offering a related-party transaction as defined under Multilateral Instrument 61-101. The participation of this insider was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the debentures issued to, or the consideration paid by, the insider exceeded 25 per cent of the company's market capitalization. ____________________________________________________________________________ July 17, '14 - NR In connection with Grenville Strategic Royalty Corp.'s previously announced bought deal prospectus offering that closed on July 10, 2014, the syndicate of underwriters led by National Bank Financial Inc. has exercised in full its overallotment option for the purchase of an additional $2.25-million principal amount of convertible unsecured subordinated debentures, for an aggregate offering of $17.25-million. The debentures will bear interest at a rate of 8.0 per cent per year, payable semi-annually in arrears on June 30 and Dec. 31 each year commencing Dec. 31, 2014, and will be convertible into common shares at a conversion price of 92 cents per common share, being a conversion rate of 1,086.9565 common shares for each $1,000 principal amount of debentures. Please refer to the company's July 10, 2014, press release for further details regarding the terms of the Debentures. The debentures are listed for trading on the TSX Venture Exchange under the symbol GRC.DB. As consideration for their services in connection with the offering, the company has paid the underwriters a cash commission equal to 6 per cent of the gross proceeds of the offering. As previously announced, the company intends to use the net proceeds from the offering for the future purchase of revenue royalties in the company's target markets.