All amounts in Canadian dollars unless otherwise stated
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VANCOUVER, BC / ACCESSWIRE / December 30, 2021 / RE Royalties Ltd. (TSXV:RE) ("RE Royalties" or the "Company"), a global leader in renewable energy royalty-based financing, is pleased to announce the successful closing of its brokered "best efforts" private placement of Series 2-2021 Green Bonds (the "Green Bonds"), maturing on December 30, 2026 for aggregate gross proceeds of $10.3 million.
In the Series 2-2021 Green Bonds private placement, the Company has issued 5,166 Green Bonds with a principal amount of $1,000 Canadian dollars per Green Bond for aggregate gross proceeds of $5,166,000 Canadian dollars ("CAD Green Bonds"). The Company has also issued 4,000 Green Bonds with a principal amount of $1,000 United States dollars per Green Bond for aggregate gross proceeds of $4,000,000 United States dollars ("USD Green Bonds"), or approximately $5,120,000 Canadian dollar equivalent. Each Green Bond bears interest at a rate of 6% per annum, payable quarterly and is secured against the Company's portfolio of royalty and loan investments.
Canaccord Genuity Corp acted as agent (the "Agent") pursuant to an agreement entered between the Company and the Agent with respect to the Green Bond offering. In connection with the closing of the Series 2-2021 Green Bonds, the Company paid the Agent a cash fee of $309,960 for the CAD Green Bonds and USD$240,000 for the USD Green Bonds.
Net proceeds from the Offering will be utilized to finance or re-finance renewable and sustainable energy projects that will reduce or offset green house gas emissions and assist in mitigating the impact of climate change. The Company has prepared a Green Bond Framework that is aligned with the International Capital Market Association Green Bond Principles (2018), which framework is available on the Company's website, here.
About RE Royalties Ltd.
RE Royalties Ltd. acquires revenue-based royalties from renewable energy generation facilities by providing a non-dilutive financing solution to privately held and publicly traded renewable energy generation and development companies. RE Royalties is the first to apply this proven business model to the renewable energy sector. The Company currently owns 98 royalties on solar, wind, storage and hydro projects in Canada, Europe, and the United States. 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.
www.reroyalties.com
https://www.accesswire.com/680263/RE-Royalties-Completes-103-Million-Closing-of-Series-2-Green-Bonds