Alaris Royalty completes C$87 million equity financing

On June 25, 2014, Alaris Royalty Corp. (Alaris) closed its previously announced short-form prospectus offering of common shares on a bought deal basis. The offering consisted of 2,847,000 common shares issued at a price of C$26.70 per common share as well as an over-allotment option, which was exercised in full by the underwriters, whereby they purchased an additional 427,050 common share, on the same terms and the same price, to cover over-allotments for gross proceeds of C$87,417,135.

The offering was completed through a syndicate of underwriters led by Acumen Capital Finance Partners Limited and including Cormark Securities Inc., RBC Dominion Securities Inc., National Bank Financial Inc., Canaccord Genuity Corp. and Raymond James Ltd.

The net proceeds of the offering will be used to reduce debt outstanding on its facility, a portion of which was incurred to fund its US$29,200,00 contribution to Kimco Holdings, LLC completed on June 6, 2014, and for general working capital purposes.

Alaris provides alternative financing to a diversified group of Private Company Partners in exchange for royalties or distributions from the partners, with the principal objective of generating stable and predictable cash flows for dividend payments to its shareholders.

Further information can be found on Alaris' website.