Le Lézard
Classified in: Business
Subjects: MISCELLANEOUS, MERGERS AND ACQUISITIONS (M&A)

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.

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.

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 Parry
Chief Executive Officer
Tel: (416) 777-0383

 


These press releases may also interest you

at 17:32
Childhood sexual abuse lawyers Stephen Estey of San Diego and Robert Allard of San Jose are announcing what is believed to be a record single plaintiff $8.2 million settlement in a youth soccer child sex abuse case (Santa Clara County case...

at 17:29
Skip announces integration with ZipLine's Private Label Debit (ACH) consumer payment platform. The Skip development team partnered with ZipLine over the summer to connect their systems via an API. This is a fundamental growth opportunity for both...

at 17:13
True North Commercial Real Estate Investment Trust  (the "REIT") is pleased to announce it has agreed to acquire a 122,000 square foot Class "A" office property located at 6 Staples Avenue, Richmond Hill, Ontario (the "GTA Property"). The purchase...

at 17:12
HealthCare Partners, a division of DaVita Medical Group and a part of DaVita Inc. , today celebrated the opening of a new state-of-the-art medical facility and urgent care clinic in downtown Los Angeles at Washington Boulevard and Hoover Street. The...

at 17:10
Unifor, the union representing employees at Aeroplan and customer sales and service agents at Air Canada has reached out to the businesses after an announcement that Aeroplan will be purchased by a consortium of companies. Unifor Local 2002...

at 17:04
TSX VENTURE COMPANIES FORTEM RESOURCES INC. ("FTM")BULLETIN TYPE:  New Listing-SharesBULLETIN DATE:  August 21, 2018TSX Venture Tier  2 Company Effective at the opening on Thursday, August 23, 2018, the  shares of common stock of Fortem Resources...




News published on 7 december 2017 at 22:03 and distributed by: