TORONTO, June 14, 2017 (GLOBE NEWSWIRE) -- Grenville Strategic Royalty Corp. (TSXV:GRC) (“Grenville” or the “Company”) today announced that, as previously disclosed, it has acquired 18,246,600 common shares (“Shares”) of Lattice Biologics Ltd (TSXV:LBL) (“Lattice”) at an issue price of CDN$0.20 in exchange for the extinguishment of USD$2,000,000 of Grenville's original royalty investment in Lattice and USD$700,000 of overdue royalty payments owing by Lattice to Grenville under the existing royalty agreement between the parties. As a result of the issuance of the Shares, Grenville holds approximately 19.68% of the total issued and outstanding common shares of Lattice. The Shares are subject to a four-month hold period under applicable securities laws. Grenville has filed an early warning report on SEDAR in respect of its acquisition of the Shares.
About Grenville
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.
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