TORONTO, ONTARIO--(Marketwired - April 16, 2014) - Grenville Strategic Royalty Corp. (TSX VENTURE:GRC) ("Grenville") is pleased to announce that, effective immediately, Mr. Paul B. Sweeney and Mr. Gaston Tano have been appointed as independent directors of Grenville.
Mr. Sweeney has over 35 years' experience in financial management of mining and renewable energy companies and has been an independent business consultant since May 2011. Mr. Sweeney is currently a director of Tahoe Resources Inc., where he is chair of the audit committee and a member of the compensation committee, and Mongolia Growth Group Inc., where he is chair of the audit committee and a member of the compensation committee.
Mr. Tano is a seasoned senior finance executive with over 20 years of experience in global companies. Mr. Tano is currently the Executive Vice-President and Chief Financial Officer of Spin Master Limited, a multi-category children's entertainment company that is recognized a global growth leader within the toy industry, and previously spent 13 years with Bacardi Limited, the international spirits company, in various progressing finance positions, ultimately becoming Global Corporate Controller of Bacardi. Mr. Tano has both Canadian Charted Professional Accountant and U.S. Certified Public Accountant (Illinois) designations.
Grenville's Chief Executive Officer, William (Bill) R. Tharp, commented: "We are very pleased with the addition of Messrs. Sweeney and Tano to our board as independent members. This expansion materially strengthens our financial and governance skills, which will become more important as our business continues to grow and the number of financial holdings increase."
Grenville is a Toronto-based company that was formed to provide royalty-based finance solutions by acquiring revenue streams generated by growing industrial and technology businesses. Grenville has identified a large and underserviced finance market for companies generating up to $50 million in revenue, many of which are well managed and generating improving cash flow, but face difficult financing hurdles from traditional debt and equity markets. The non-dilutive royalty financing structure offered by Grenville can bridge the financing needs of these companies until traditional debt or equity is available to them on more attractive commercial terms. The application of Grenville's royalty financing structure into sectors not traditionally serviced by royalty companies represents a new and innovative financing model - Capital Simplified - that has already attracted a considerable number of opportunities with attractive return potential.
Forward-Looking Information and Statements
This press release contains certain "forward-looking information" within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Such forward-looking information and statements are not representative of historical facts or information or current condition, but instead represent only Grenville's beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Grenville's control. Generally, such forward-looking information or statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken, "will continue", "will occur" or "will be achieved". The forward-looking information contained herein may include, but is not limited to, information with respect to the board of directors of Grenville. By identifying such information and statements in this manner, Grenville is alerting the reader that such information and statements are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Grenville to be materially different from those expressed or implied by such information and statements. An investment in securities of Grenville is speculative and subject to a number of risks including, without limitation, risks relating to: the need for additional financing; the relative speculative and illiquid nature of an investment in Grenville; Grenville's lack of operating history; Grenville's ability to generate sufficient revenues; Grenville's ability to manage future growth; the limited diversification in Grenville's existing investments; dependence on the operations, assets and financial health of investee companies; limited ability to exercise control or direction over investee companies; potential defaults by investee companies and the unsecured nature of Grenville's investments; Grenville's ability to enforce on any default by an investee company; competition with other investment entities; tax matters; Grenville's ability to pay dividends in the future and the timing and amount of those dividends; reliance on key personnel, particularly Grenville's founders; dilution of shareholders' interest through future financings; and general economic and political conditions. Although Grenville has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information and statements, there may be other factors that cause results not to be as anticipated, estimated or intended. In connection with the forward-looking information and statements contained in this document, Grenville has made certain assumptions. Although Grenville believes that the assumptions and factors used in preparing, and the expectations contained in, the forward-looking information and statements are reasonable, undue reliance should not be placed on such information and statements, and no assurance or guarantee can be given that such forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information and statements. For additional information with respect to these risks, uncertainties and assumptions, please refer to the "Risk Factors" section of the joint information circular of Troon Ventures Ltd. and Grenville Strategic Royalty Corp. dated January 14, 2014 and the other public filings of Grenville available on SEDAR at www.sedar.com. The forward-looking information contained in this press release is made as of the date hereof, and Grenville does not undertake to update any forward-looking information that is contained or referenced herein, except in accordance with applicable securities laws. All subsequent written and oral forward looking information and statements attributable to Grenville or persons acting on its behalf is expressly qualified in its entirety by this notice.
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.