Royalty North Partners Ltd.
TSX VENTURE : RNP

Royalty North Partners Ltd.

March 13, 2017 13:45 ET

Royalty North Announces New Investment in SunSystem Technology

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 13, 2017) -

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES

Royalty North Partners Ltd. (TSX VENTURE:RNP) ("RNP" or the "Company") is pleased to announce that it has loaned US$600,000 (the "Loan") to SST Construction, LLC ("SunSystem" and, together with its affiliates, the "SunSystem Group") by way of an unsecured promissory note (the "Promissory Note"). The Promissory Note bears interest at 10% per annum payable monthly and has a one year term, at which time it matures and becomes due and payable. RNP funded the Loan with cash on hand. The Loan is an arm's length transaction.

Established in 2013, the SunSystem Group is a leading provider of operations and maintenance (O&M), engineering, procurement and construction (EPC) and asset management services in the solar industry. It derives a high degree of recurring revenue through its O&M businesses and EPC work through its relationships with residential originators and financing platforms. The SunSystem Group has in total nine office locations with its headquarters in Sacramento, California.

Justin Currie, Chief Executive Officer of RNP, commented: "SunSystem is experiencing tremendous growth and is looking mainly for working capital support for its core business line. We are delighted to support SunSystem in their next growth phase to become the partner of choice for either residential or commercial solar system clients."

Christian Payne, Executive Chairman of SunSystem, commented: "We are excited to partner with RNP to help support our future growth strategy. The unique nature of RNP's investment structure enables us to focus on our plan with increased financial flexibility and without any dilution for the current SunSystem shareholders."

SunSystem represents RNP's second investment since RNP initiated its change of business last year. RNP is currently evaluating a number of other high-quality companies with the goal of providing attractive royalty-based financing to its partners and further diversifying the Company's portfolio of royalty investments.

The TSX Venture Exchange (the "TSXV") has conditionally approved the transaction. Closing is subject to receipt of final approval of the TSXV.

On behalf of the Company,

Justin Currie, Chief Executive Officer and Director

About Royalty North Partners Ltd.

Royalty North Partners is a Vancouver, BC based, TSX-V listed (RNP) company focused on creating a diversified portfolio of cash flowing royalties by providing financing to private businesses operating in the "mid-market". RNP is led by a seasoned board and management team with a successful track record of experience in royalty financing, capital markets transactions and private company operations. RNP is targeting royalty investments in companies with stable cash flow in non-resource based sectors looking for growth/acquisition capital, recapitalization or succession liquidity.

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

This press release does not constitute an offer to purchase securities. The securities to be offered in the offering have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to, or for the benefit or account of, a U.S. person, except pursuant to an available exemption from such registration requirements.

Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented constitutes "forward looking statements" within the meaning of certain securities laws, and is subject to important risks, uncertainties and assumptions. Such forward-looking statements, include but are not limited to the completion of the transactions under the Promissory Note. The words "may", "could", "should", "would", "suspect", "outlook", "believe", "anticipate", "estimate", "expect", "intend", "plan", "target" and similar words and expressions are used to identify forward-looking information. The forward-looking information in this news release describes the Company's expectations as of the date of this news release and accordingly, is subject to change after such date. Readers should not place undue importance on forward-looking information and should not rely upon this information as of any other date. While the Company may elect to, it does not undertake to update this information at any particular time except as required by law.

Contact Information

  • Royalty North Partners Ltd.
    Chris Buss
    Chief Investment Officer and Director
    (604) 628-1101
    www.royaltynorth.com