![]() The loan facility carries an interest rate of 8% on advanced funds, and 1.5% on standby funds available, with the principal payment due 48 months after the closing date. Nova shares acquired on conversion will be subject to a four-month plus one day hold period from the date of advance. “Nova Royalty has identified an underserved market segment and has built a repeatable strategy to create shareholder value through accretive acquisitions, while maintaining upside optionality through exposure to the continued trend of global electrification.” “We are excited to expand our partnership with Alex and the Nova Royalty team at this growth inflection point for both the Nova royalty platform and the demand cycle of the underlying metals they will be targeting,” said David Bell, managing director at Beedie Capital. It is expected to close on or before October 6. Nova said the initial advance will be convertible into shares at a conversion price of $1 per Nova share and with respect to any subsequent advance, at a conversion price equal to a 20% premium above the 30-day VWAP of the Nova shares on the TSX Venture Exchange. The loan will be funded by way of an initial advance of $3.5 million on the closing date, and the remaining $9.5 million will be available for subsequent advances in minimum tranches of $1.5 million over the term of the loan. He added: “Beedie Capital was an early supporter and shareholder of Nova, and we welcome their vote of confidence in our strategy of building a premier royalty company in the building blocks of clean energy – copper and nickel.” In a statement, Nova Royalty CEO Alex Tsukernik said: “We are very pleased to have continued support of one of the most highly regarded institutional investors in Canada.” WATCH: Nova Royalty begins trading the TSX Venture under the ticker “NOVR” Beedie also committed to a subscription of $2 million in Nova’s next equity offering in 2020, assuming the offering is at least $10 million and led by a recognized securities dealer. Nova said it has secured a convertible loan facility of up to $13 million with Beedie Capital to fund acquisitions of new royalties and streams. The investor has been an early supporter of Vancouver, British Columbia-based Nova that looks to find royalties in the clean energy, copper, and nickel space. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.įusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.Nova Royalty Corp ( CVE:NOVR) debuted Thursday on the TSX Venture Exchange and secured a $15 million financing facility from major Candian institutional investor Beedie Capital. It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Trading on margin increases the financial risks.īefore deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.įusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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