Grenville Completes Follow-On Investment in PFO Global Group
20 6월 2014 - 9:00PM
Marketwired
Grenville Completes Follow-On Investment in PFO Global Group
TORONTO, ONTARIO--(Marketwired - Jun 20, 2014) - Grenville
Strategic Royalty Corp. (TSX-VENTURE:GRC) ("Grenville") is pleased
to announce that it has advanced an additional USD$500,000 to Pro
Fit Optix Holding Company, LLC, doing business as PFO Global Group
("PFO"). In exchange for the amounts advanced to PFO, Grenville
will receive a royalty based on PFO's gross revenues within
Grenville's targeted 1% - 4% royalty range, subject to certain
adjustments.
PFO is engaged in the manufacturing and distribution of eyewear
through proprietary manufacturing, ordering and delivery systems
that reduce cost to eyewear providers and offer a broader range of
choice to participants in the United States Medicaid and Medicare
programs. PFO is poised to participate in this rapidly growing
market following implementation of the Affordable Health Care Act
in the United States.
"PFO's collaboration with Grenville has been excellent since
first partnering with the company in February of this year. As
President and Chief Executive Officer of a growing company, I can
say this partnership has allowed PFO to increase our working
capital, drive sales in Managed Vision Care and continue the
production of our Advanced Technology Products," said Rudolf
(Ruedi) Suter, PFO's President and Chief Executive Officer. "We are
pleased to have the continuing opportunity to further our
partnership with PFO," commented William (Bill) R. Tharp,
Grenville's Chief Executive Officer. "We have worked very closely
with Ruedi and the PFO team since providing our first installment
and are feeling very confident about the current direction of the
business."
This advance represents Grenville's 14th investment, with
approximately $10.58 million in royalty-based financings across
Canada and the US.
About PFO
PFO Global is an innovative manufacturer of advanced lens
designs, complete eyewear and mobile dispensing equipment. With
interactive manufacturing systems that connect the world, complete
material fulfillment systems and a proprietary online ordering
system, PFO is focused on meeting today's economic needs with
tomorrow's technology. Headquartered in Irving Texas with high
capacity manufacturing facilities and R&D centers around the
world, PFO is committed to optical technologies that enhance the
quality of life and transform business.
About Grenville
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: prospective financial
performance; expenses and operations; anticipated cash needs and
need for additional financing; anticipated funding sources; future
growth plans; royalty acquisition targets and proposed or completed
royalty transactions; estimated operating costs; estimated market
drivers and demand; business prospects and strategy; anticipated
trends and challenges in Grenville's business and the markets in
which it operates; and financial position.
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
forward-looking statements contained in this document, Grenville
has made certain assumptions. Assumptions about the performance of
the Canadian and U.S. economies over the next 24 months and how
that will affect Grenville's business and its ability to identify
and close new opportunities with new investees are material factors
that Grenville considered when setting its strategic priorities and
objectives, and its outlook for its business. Key assumptions
include, but are not limited to: assumptions that the Canadian and
U.S. economies will continue to grow moderately over the next 12 to
24 months; that interest rates will not increase dramatically over
the next 12 to 24 months; that Grenville's existing investees will
continue to make royalty payments to Grenville as and when
required; that the businesses of Grenville's investees will not
experience material negative results; that Grenville will continue
to grow its portfolio in a manner similar to what has already been
established; that tax rates and tax laws will not change
significantly in Canada and the U.S.; that more small to medium
private and public companies will continue to require access to
alternative sources of capital; and that Grenville will have the
ability to raise required equity and/or debt financing on
acceptable terms. Grenville has also assumed that access to the
capital markets will remain relatively stable, that the capital
markets will perform with normal levels of volatility and that the
Canadian dollar will not have a high amount of volatility relative
to the U.S. dollar. In determining expectations for economic
growth, Grenville primarily considers historical economic data
provided by the Canadian and U.S. governments and their
agencies.
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 Grenville's annual information form dated April 21, 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.
Grenville Strategic Royalty Corp.William (Bill) R.
TharpPresident and Chief Executive Officer(416) 777-0383
Grenville Strategic Royalty (TSXV:GRC)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
Grenville Strategic Royalty (TSXV:GRC)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024