GRENVILLE STRATEGIC ROYALTY CORP. ("GRC.DB")
BULLETIN TYPE: Prospectus-Debenture Offering, New Listing-Debentures
BULLETIN DATE: July 9, 2014
TSX Venture Tier 2 Company
Prospectus-Debenture Offering:
Effective the opening of business, Thursday, July 10, 2014, the Company's Prospectus dated July 4, 2014 was filed with and accepted by TSX Venture Exchange, and filed with and receipted by the British Columbia, Ontario, Alberta, Saskatchewan, Manitoba, New Brunswick, Prince Edward Island, Nova Scotia and Newfoundland and Labrador Securities Commissions, pursuant to the respective securities legislation of the foregoing Provinces.
TSX Venture Exchange has been advised that closing will occur on or before open of trading, July 10, 2014, for gross proceeds of $15,000,000.
Offering: $15,000,000
Agent(s): National Bank Financial Inc., Clarus Securities Inc., Cormark Securities Inc., GMP Securities L.P., Haywood Securities Inc., and Raymond James Ltd.
Agent's Commission: $900,000
Details of the Debentures:
Maturity Date: December 31, 2019
Redemption: The Debentures may be redeemed, at the option of the Company, in whole or in part, upon not more than 60 days and not less than 30 days prior written notice to the debentureholders after December 31, 2017.
Interest: 8% Interest is payable semi-annually on December 31 and June 30 in each year commencing December 31, 2014.
Subordination: The payment of principal and interest on the Debentures is subordinated in right of payment to the extent set forth in the debenture governing the Debentures to the prior payment in full of all existing and future senior indebtedness of the Company.
Conversion: The Debentures are convertible into common shares of the Company at $0.92 per share at any time prior to maturity or the business day prior to redemption.
Day Count Type: 365, or 366 as the case may be
Interest Start Date: July 10, 2014
First Coupon Date: December 31, 2014
Coupon Dates: Dec 31, June 30
Over-allotment The Corporation has granted to the Underwriters the Over-Allotment Option, which entitles the Underwriters to purchase up to an additional $2,250,000 principal amount of Debentures, representing up to 15% of the aggregate principal amount of Debentures sold under the Offering.
Board Lot: The Debentures will trade in a board lot size of $1,000 face value.
For further information, please refer to the Company's Prospectus dated July 4, 2014.
New Listing-Debentures:
Effective at the opening of business, Thursday, July 10, 2014, the debentures of the Company will commence trading on TSX Venture Exchange. The Company is classified as an 'Investment' company.
Corporate Jurisdiction: British Columbia
Transfer Agent: Computershare Investor Services Inc.
Trading Symbol: GRC.DB
CUSIP Number: 39773AAA8
________________________________________
|
|
