TORONTO, ON--(Marketwired - October 18, 2016) -
Not for Distribution in the United States or Through United States Wire Services
Gravitas Financial Inc. (CSE: GFI) ("Gravitas" or the "Company"), is pleased to provide this corporate update on recent business activities.
Gravitas, through its 50% subsidiary, Foregrowth Holdco Inc., ("Foregrowth"), and Grenville Strategic Royalty Corp. ("Grenville"), have formed a joint venture, Foregrowth-Grenville Investments Inc., that will have the right to co-invest in each new royalty investment made by Grenville. Foregrowth-Grenville Royalty I Limited Partnership ("Foregrowth LP") intends to raise capital, which will be used to finance the joint venture, while Grenville will manage the joint venture and be compensated through a management fee. The joint venture's excess returns after costs and loan payments will be shared on an 85/15 basis between Foregrowth and Grenville. Foregrowth LP expects to advance 100 percent of the joint venture's share of capital for initial investments. This will be the inaugural product for the foreGrowth™ online direct investment platform.
Based in Toronto, Grenville 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.
foreGrowth™ (www.foregrowth.com) is an online investment platform that provides investors with exclusive access to pre-vetted institutional-quality investments designed to provide security, yield and upside potential.
ABOUT GRAVITAS ILIUM CORPORATION
Gravitas Ilium Corporation (www.gicpartners.com) is a financial services holding company 50% owned by Gravitas.
ABOUT GRAVITAS FINANCIAL INC.
Gravitas is a financial services, research and analytics holding company providing, through its various subsidiaries, capital market services to individual, private and public company clients. Gravitas conducts its operations from its head office in Toronto, Canada. Gravitas intends to utilize the public company platform and enhanced access to capital to grow its existing business and to provide new and enhanced products to its clients.
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or the Company's future performance. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.