Royalty North Announces Repayment of Loan from Advance Wire Products Ltd.
Vancouver, British Columbia--(Newsfile Corp. - August 3, 2022) - Royalty North Partners Ltd. (TSXV: RNP) ("RNP" or the "Company") announces that further to its press release on June 16, 2022 it has received a payment of $5,546,637 (the "Initial Payment") from Advance Wire Products Ltd ("AWP") as repayment of the Loan Agreement between AWP and RNP as entered into on August 24, 2017, and as amended by subsequent amending agreements (the "Loan Agreement'). A further $453,360 is to be paid in 24 equal monthly installments commencing on September 1, 2022.
Having made the Initial Payment, AWP has no more obligations under the Loan Agreement and RNP has no more rights to payments pursuant to the Loan Agreement.
Trading in the common shares of RNP is currently halted and it is not anticipated that trading in the common shares of RNP will resume prior to completion of the previously announced reverse take-over transaction with Sandstorm Gold Ltd. For further details, please see the Company's press releases dated February 17, 2022 and May 2, 2022, May 26, 2022, June 1, 2022 and July 26, 2022.
For more information about Royalty North Partners Ltd., please contact:
Chief Financial Officer
Phone: (604) 628-1033
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accept responsibility for the adequacy or accuracy of this release.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/132737