Diversified Royalty Corp. Announces the Exercise of the Over-Allotment Option in Connection with its Recently Completed $60 Million Bought Deal Offering of 5.75% Convertible Unsecured Subordinated Debentures

Core Viewpoint - Diversified Royalty Corp. has successfully completed a bought deal public offering of $60 million in convertible debentures, with an additional $9 million from the Over-Allotment Option, bringing total gross proceeds to approximately $69 million [1][3]. Group 1: Offering Details - The offering consists of 5.75% convertible unsecured subordinated debentures priced at $1,000 each [1]. - The syndicate for the offering was co-led by CIBC Capital Markets and Desjardins Securities Inc., along with several other financial institutions [2]. Group 2: Use of Proceeds - The net proceeds from the offering will be used to repay outstanding amounts under the Corporation's acquisition facility, fund additions to royalty pools, and for working capital and general corporate purposes [3]. - Repaying the acquisition facility will increase the amount available for future acquisitions [3]. Group 3: Company Overview - Diversified Royalty Corp. is a multi-royalty corporation focused on acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America [6]. - The company currently owns several well-known brands, including Mr. Lube + Tires, Sutton, and AIR MILES® [7]. - The objective of the company is to increase cash flow per share through accretive royalty purchases and to maintain a stable monthly dividend for shareholders [8].