Sir Royalty Income Fund SIRZF

Primary Symbol: T.SRV.UN

Consumer Cyclical Restaurants

SIR Royalty Income Fund (the Fund) holds investment in SIR Corp (SIR). The Funds' investment, SIR is engaged in the business of owning and operating full-service restaurants in Canada. SIR has concept restaurant brands, including Jack Astor’s Bar and Grill, Scaddabush Italian Kitchen & Bar, and Canyon Creek Chop House, signature restaurant brands, such as Reds Wine Tavern, Reds Midtown Tavern, Reds Square One, and The Loose Moose, which are used by SIR under a license agreement with SIR Royalty Limited Partnership (the Partnership. The Fund receives distribution income from its investment in the Partnership and interest income from the SIR Loan. The Fund indirectly participates in the revenues generated under the License and Royalty Agreement through its Investment in the Partnership.

TSX:SRV.UN - Post by User

Sir Royalty Income Fund > Decent report and waiver extended

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Comment by frugalGregon Apr 01, 2021 6:33am

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Post# 32920887

RE:Decent report and waiver extended

Agreed that the waiver until July is a positive.
New $6M BDC credit facility at 4% interest.
Cash on hand >$5M which should provide a reasonable runway.
Same store revenue declines in Q4 were higher than I expected (~70%).
No mention of Renegade.

The big question for me was the $1M distribution from SIR to the Fund - no real mention about how these funds would be used and if we would see any portion of that. Presumably this will primarily go to just keeping the lights on, taxes, alaries, filing costs, etc, but it's positive that SIR is in position to make this payment.

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