Grenville Closes Over-Allotment for Aggregate Financing of $17.5 Million

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S.

Grenville Strategic Royalty Corp. (TSX VENTURE:GRC) ("Grenville" or the
"Company") is pleased to announce that in connection with its previously
announced "bought deal" prospectus offering that closed on July 10, 2014, the
syndicate of underwriters led by National Bank Financial Inc. has exercised in
full their over-allotment option for the purchase of an additional $2,250,000
principal amount of convertible unsecured subordinated debentures (the
"Debentures"), for an aggregate offering of $17,250,000 (the "Offering"). The
Debentures will bear interest at a rate of 8.0% per annum, payable semi-annually
in arrears on June 30 and December 31 each year commencing December 31, 2014 and
will be convertible into common shares at a conversion price of $0.92 per common
share, being a conversion rate of 1,086.9565 common shares for each $1,000
principal amount of Debentures. Please refer to the Company's July 10, 2014
press release for further details regarding the terms of the Debentures.


The Debentures are listed for trading on the TSX Venture Exchange under the
symbol GRC.DB


As consideration for their services in connection with the Offering, the Company
has paid the Underwriters a cash commission equal to 6% of the gross proceeds of
the Offering.


As previously announced, the Company intends to use the net proceeds from the
Offering for the future purchase of revenue royalties in the Company's target
markets.


The securities offered have not been, and will not be, registered under the U.S.
Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state
securities laws, and may not be offered or sold in the United States or to, or
for the account or benefit of, United States persons absent registration or any
applicable exemption from the registration requirements of the U.S. Securities
Act and applicable U.S. state securities laws. This press release shall not
constitute an offer to sell or the solicitation of an offer to buy securities in
the United States, nor shall there be any sale of these securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful.


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
potential returns.


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 use of the net proceeds of the Offering; 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Grenville Strategic Royalty Corp.
William (Bill) R. Tharp
President and Chief Executive Officer
(416) 777-0383
Grenville Strategic Royalty (TSXV:GRC)
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