SIR Royalty Income Fund Announces that SIR Corp. Extends and Increases its Debt Financing

BURLINGTON, ON, July 9, 2018 /CNW/ - SIR Royalty Income Fund (TSX: SRV.UN) (the "Fund") announced that SIR Corp. ("SIR" or the "Company"), the operating entity from which the Fund earns equity income and interest income, made certain amendments to its credit agreement ("Credit Agreement").

The Credit Agreement, which established the Company's debt financing, was amended to provide for, among other things, an increase to the maximum available amount under its revolving term credit facility from $10 million to $30 million and an extension of the maturity date to July 6, 2021. For further details of the amendments described above, please refer to the amending agreement associated with the Credit Agreement, a copy of which will be available under the Fund's profile on SEDAR at www.sedar.com.

About SIR Corp.
SIR is a privately held Canadian corporation that owns a portfolio of 61 restaurants and one seasonal retail outlet in Canada. SIR's Concept brands include: Jack Astor's Bar and Grill®, with 40 locations; Scaddabush Italian Kitchen & Bar® with eight locations; and Canyon Creek®, with seven locations.  SIR also operates one-of-a-kind "Signature" brands including Reds® Wine Tavern, Reds® Midtown Tavern, Reds® Square One and The Loose Moose®. All trademarks related to the Concept and Signature brands noted above are used by SIR under a License and Royalty Agreement with SIR Royalty Limited Partnership in consideration for a Royalty, payable by SIR to the Partnership, equal to six percent of the revenue of the 57 restaurants currently included in the Royalty Pool. SIR also owns Duke's Refresher® & Bar in downtown Toronto, one seasonal Signature restaurant, Abbey's Bakehouse®, and one seasonal Abbey's Bakehouse retail outlet, which are currently not in consideration to be part of the Royalty Pool. For more information on SIR Corp. or the SIR Royalty Income Fund, please visit www.sircorp.com.  

About SIR Royalty Income Fund
The Fund is a trust governed by the laws of the province of Ontario that receives distribution income from its investment in the SIR Royalty Limited Partnership and interest income from the SIR Loan. The Fund intends to pay distributions to unitholders on a monthly basis.

SOURCE SIR Royalty Income Fund