Diversified Royalty Corp. Announces Filing of Preliminary Short Form Base Shelf Prospectus and Mr. Lube Q1 2021 Results

By Markets Businessinsider Com7 days ago

VANCOUVER, British Columbia, May 04, 2021 (GLOBE NEWSWIRE) -- Diversified Royalty Corp. (TSX:DIV and DIV.DB) (the Corporation or DIV) announced today that it has filed, and received receipt for, a preliminary short form base shelf prospectus (the Prospectus). The Prospectus was filed with the securities regulatory authorities in each of the Provinces of Canada, other than Quebec. The Prospectus was filed to provide DIV with financial flexibility and efficient access to Canadian capital markets to pursue strategic initiatives, which may include acquisitions of additional royalties. A copy of the Prospectus is available under DIVs profile on SEDAR at www.sedar.com.

Once a receipt for the final Prospectus is received from the applicable securities regulators, the final Prospectus will be valid for a 25-month period during which time DIV may, from time to time, issue common shares, warrants, subscription receipts, debt securities, convertible securities or rights or any combination thereof, including in the form of units (collectively, the Securities), having an aggregate offering price up to Cdn$200 million. The specific terms of any offering of Securities will be described in one or more shelf prospectus supplements which will be filed at the time of the offering of such Securities.

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Mr. Lube First Quarter Results

Mr. Lube Canada Limited Partnership (Mr. Lube) has reported its financial results for the three months ended March 31, 2021, which are available on SEDAR at www.sedar.com. Mr. Lube reported same-store-sales-growth (SSSG) of 3.9% for the Mr. Lube stores in the royalty pool for Q1 2021, an improvement compared to SSSG of -7.2% for the three months ended March 31, 2020, which results are consistent with the amounts reported in DIVs news release dated April 29, 2021.

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