Grenville Declares October 2015 Dividend
TORONTO, ONTARIO--(Marketwired - Oct. 15, 2015) -
NOT FOR DISTRIBUTION IN THE UNITED STATES. FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF UNITED STATES SECURITIES LAW.
Grenville Strategic Royalty Corp. (TSX VENTURE:GRC) ("Grenville" or the "Corporation") announces that the board of directors of the Corporation has declared a dividend of $0.00416 per common share for the month of October 2015, representing $0.05 per share on an annualized basis. The dividend is payable on November 16, 2015 to shareholders of record on October 30, 2015. The ex-dividend date is October 28, 2015.
This dividend is designated by the Corporation to be an eligible dividend for the purpose of the Income Tax Act (Canada) and any similar provincial or territorial legislation. An enhanced dividend tax credit applies to eligible dividends paid to Canadian residents. The declaration and payment of dividends is at the discretion of the board of directors of the Corporation and any future declaration of dividends will depend on the Corporation's financial results, cash requirements, future prospects and other factors deemed relevant by the board of directors of the Corporation.
Grenville is a Toronto-based company that was formed to provide royalty-based finance solutions by acquiring revenue streams generated by growing small to medium-sized businesses. Grenville has identified a large and underserviced finance market for companies generating up to $50 million in revenue, many of which are well managed and generating improving cash flow, but face difficult financing hurdles from traditional debt and equity markets. The non-dilutive royalty financing structure offered by Grenville can bridge the financing needs of these companies until traditional debt or equity is available to them on more attractive commercial terms. The application of Grenville's royalty financing structure into sectors not traditionally serviced by royalty companies represents a new and innovative financing model - Capital Simplified - that has already attracted a considerable number of opportunities with attractive potential returns.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
FOR FURTHER INFORMATION PLEASE CONTACT:
Grenville Strategic Royalty Corp.
William (Bill) R. Tharp
President and Chief Executive Officer