Grenville Strategic Royalty Announces Acquisition of Portfolio Holding Frequentz Inc.
TORONTO, Dec. 07, 2017 (GLOBE NEWSWIRE) -- 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.
Based 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 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.:
Chief Executive Officer
Tel: (416) 777-0383
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