CALGARY, ALBERTA--(Marketwire - Feb. 29, 2012) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
Freehold Royalties Ltd. ("Freehold") (TSX:FRU) is pleased to announce that it has closed its previously announced equity offering. At closing today, a total of 3,450,000 common shares ("Common Shares") were issued at a price of $20.50 per Common Share for gross proceeds of $70,725,000. This includes 450,000 Common Shares issued pursuant to the exercise in full by the underwriters of the over-allotment option. The syndicate of underwriters was led by CIBC World Markets Inc. and included RBC Dominion Securities Inc., TD Securities Inc., BMO Nesbitt Burns Inc. and Scotia Capital Inc.
Freehold's primary focus is on acquiring and managing oil and gas royalties. The majority of production comes from royalty assets (mineral title and gross overriding royalties). The Common Shares trade on the Toronto Stock Exchange in Canada under the symbol FRU.