Grenville Strategic Royalty Announces Acquisition of Portfolio Holding Frequentz Inc.
December 07 2017 - 9:56PM
Grenville Strategic Royalty Corp. (TSXV:GRC) (“Grenville”) today
announced that rfXcel, a provider of supply chain track and trace
solutions for the pharmaceutical industry has acquired the assets
of Frequentz, Inc. (“Frequentz”), a leading player in life science
and food traceability. Terms of this transaction can be found in
the following press release:
https://www.prnewswire.com/news-releases/rfxcel-acquires-frequentz-assets-300566623.html.
As previously announced on June 21, 2017
Grenville entered into a royalty purchase agreement with Frequentz,
to provide USD$500,000 in growth capital. Coincident with the
close, Grenville purchased USD$350,000 of senior secured Frequentz
debt for additional royalty payments, bringing Grenville's total
investment to USD$850,000.
At closing, Grenville received an aggregate
payment equal to one year of royalty payments. Following completion
of the acquisition, the royalty agreement between Grenville and
Frequentz will remain in place.
About GrenvilleBased in
Toronto, Grenville Strategic Royalty Corp. is a publicly-traded
royalty company that makes investments in established businesses
with revenues of up to $50 million dollars. Grenville generates
revenues from royalty payments and buyouts from contracts. The
non-dilutive royalty financing structure offered by Grenville
competes directly with traditional equity to meet the long-term
financing needs of companies on more attractive commercial
terms.
Frequentz, Inc.Frequentz
provides serialized data, supply chain traceability, and
information management software solutions to major food and life
sciences companies. Frequentz’s primary offering, their Information
Repository & Intelligence Server, tracks, traces, serializes,
verifies, captures, stores, and analyses product event data, at the
unit or lot level, as the product moves through the supply
chain.
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.:Steven
ParryChief Executive OfficerTel: (416) 777-0383
Grenville Strategic Royalty (TSXV:GRC)
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