Beedie Investments Limited Acquires Additional Securities in Nova Royalty Corp.

Beedie Investments Limited Acquires Additional Securities in Nova Royalty Corp.

Beedie Investments Limited ( "Beedie") announces that, on March 10, 2023, Nova Royalty Corp. ("Nova") completed a draw down of $1.5 million (the "Fifth Advance") under an existing $25.0 million convertible loan facility (the "Loan Facility") pursuant to the terms of an amended and restated convertible loan agreement dated February 6, 2021, as amended effective as of October 1, 2022 (the "Amended and Restated Loan Agreement") between Beedie and Nova Royalty Corp. The Fifth Advance will be convertible into common shares in the capital of Nova ("Nova Shares") at a conversion price of $1.7852 per Nova Share, which represents a 20% premium above the 30-day volume weighted average price of the Nova Shares on the TSX Venture Exchange calculated up to and including March 9, 2023.

Furthermore, on March 10, 2023 Beedie acquired 1,034,400 Nova Shares through the facilities of the TSX Venture Exchange at a price of $1.45 per Nova Share (the "Share Acquisition").

Immediately prior to the Fifth Advance and the Share Acquisition, Beedie, directly or indirectly, owns or controls 10,896,704 Nova Shares, which includes 1,855,443 Nova Shares that would be issuable if the prior unconverted advances under the Loan Facility are converted into Nova Shares in accordance with the terms of the Amended and Restated Loan Agreement.

Following completion of the Share Acquisition and assuming conversion in full of the Fifth Advance into Nova Shares in accordance with the terms of the Amended and Restated Loan Agreement, Beedie, directly or indirectly, would own or control a total of 12,771,345 Nova Shares, representing approximately 14.00% of the issued and outstanding Nova Shares on a partially diluted basis. Assuming conversion in full of the entire Loan Facility into Nova Shares in accordance with the terms of the Amended and Restated Loan Agreement (assuming that all subsequent advances under the Loan Facility are converted into Nova Shares at a conversion price of $1.7852 per share, representing a 20% premium above the 30-day VWAP the Nova Shares on the TSX Venture Exchange as of March 9, 2023), Beedie, directly or indirectly, would own or control a total of 21,453,846 Nova Shares, representing approximately 21.48% of the issued and outstanding Nova Shares on a partially diluted basis. The actual number of Nova Shares issued pursuant to the conversion of any subsequent advances under the Loan Facility will depend upon the 30-day VWAP of the Nova Shares on the TSX Venture Exchange applicable at the time.

All of the securities held by Beedie in Nova, including the Nova Shares and the Amended and Restated Loan Agreement, are being held for investment purposes. Beedie may in the future take such actions in respect of its Nova securityholdings as it deems appropriate in light of the market circumstances then existing, including the potential purchase of additional shares of Nova through open market purchases or privately negotiated transactions, or the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers, or Beedie may continue to hold its current positions.

A copy of the early warning report relating to the Amended and Restated Loan Agreement will be available under Nova's profile on SEDAR at www.sedar.com, and may also be obtained by contacting Beedie Investments Limited at 604-435-3321. Beedie's head office is located at Suite 1570 - 1111 West Georgia Street, Vancouver, BC, V6E 4M3, Canada.

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 news release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/158145

News Provided by Newsfile via QuoteMedia

NOVR:CA
The Conversation (0)
Nova Royalty

Nova Royalty

Leveraging the Green Energy Movement With Strategic Copper and Nickel Royalties

NOVA TO INCREASE ROYALTY INTEREST ON HUDBAY'S COPPER WORLD COMPLEX

NOVA TO INCREASE ROYALTY INTEREST ON HUDBAY'S COPPER WORLD COMPLEX

TSXV: NOVR OTCQB: NOVRF (All dollar amounts are in United States Dollars unless otherwise indicated) Nova Royalty Corp. (" Nova " or the " Company ") (TSXV: NOVR) (OTCQB: NOVRF) is pleased to announce that it has entered into an agreement (the " Agreement ") with an arm's length private party... Keep Reading...
NOVA ROYALTY ANNOUNCES APPOINTMENT OF HASHIM AHMED AS CFO

NOVA ROYALTY ANNOUNCES APPOINTMENT OF HASHIM AHMED AS CFO

TSXV: NOVR OTCQB: NOVRF Nova Royalty Corp. (" Nova " or the " Company ") is pleased to announce the appointment of Hashim Ahmed as Chief Financial Officer of the Company (" CFO "). ‎Mr. Ahmed's transition into the CFO role is expected to be effective at the start of the second quarter and will... Keep Reading...
NOVA ROYALTY ADDS U.S. AND CANADIAN MINING HALL OF FAME INDUCTEE DOUGLAS SILVER TO BOARD OF DIRECTORS

NOVA ROYALTY ADDS U.S. AND CANADIAN MINING HALL OF FAME INDUCTEE DOUGLAS SILVER TO BOARD OF DIRECTORS

TSXV: NOVR OTCQB: NOVRF Nova Royalty Corp. (" Nova " or the " Company ") is pleased to announce the addition of Douglas Silver as an independent director of the Company's Board of Directors, effective immediately. Alex Tsukernik , President and CEO of Nova, commented, "On behalf of the Board of... Keep Reading...
NOVA ROYALTY REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPT 30, 2022 AND PROVIDES ASSET UPDATE

NOVA ROYALTY REPORTS FINANCIAL RESULTS FOR THE THREE AND NINE MONTHS ENDED SEPT 30, 2022 AND PROVIDES ASSET UPDATE

TSXV: NOVR OTCQB: NOVRF Nova Royalty Corp. (" Nova " or the " Company ") has reported its financial results for the quarter ended September 30, 2022 . Nova's financial statements and management's discussion and analysis for the three and nine months ended September 30, 2022 are available on... Keep Reading...
NOVA ROYALTY TO HOST CONFERENCE CALL AND WEBCAST FOR THIRD QUARTER 2022 RESULTS

NOVA ROYALTY TO HOST CONFERENCE CALL AND WEBCAST FOR THIRD QUARTER 2022 RESULTS

TSXV: NOVR OTCQB: NOVRF Nova Royalty Corp. (" Nova " or the " Company ") announced today that its third quarter 2022 financial results will be released after market close on November 16, 2022 followed by a corporate update conference call with management for investors and analysts on November... Keep Reading...
Strategic Option Secured Over Feather Cap Gold Project

Strategic Option Secured Over Feather Cap Gold Project

Corazon Mining (CZN:AU) has announced Strategic Option Secured Over Feather Cap Gold ProjectDownload the PDF here. Keep Reading...
1,173 Soil Geochemistry Samples Completed

1,173 Soil Geochemistry Samples Completed

Augustus Minerals (AUG:AU) has announced 1,173 Soil Geochemistry Samples CompletedDownload the PDF here. Keep Reading...
Canada One Acquires 4,836 ha Copper-Gold Property Adjacent to Copper Mountain Mine

Canada One Acquires 4,836 ha Copper-Gold Property Adjacent to Copper Mountain Mine

Canada One Mining Corp. (TSXV: CONE) (OTC Pink: COMCF) (FSE: AU31) ("Canada One" or the "Company") announces it has agreed to acquire a 4,836-hectare copper-gold property contiguous to the northwest of Hudbay Minerals' Copper Mountain Mine, to be known as "Copper Dome North" (the... Keep Reading...
Corcel Exploration Reports Historical Drill Results Ahead of Planned Phase I Drill Program

Corcel Exploration Reports Historical Drill Results Ahead of Planned Phase I Drill Program

Corcel Exploration Inc. (CSE: CRCL) (OTCQB: CRLEF) (the "Company" or "Corcel") is pleased to provide a summary of the results of historical drilling conducted at the Yuma King mine, within the 100%-owned Yuma King Project in west-central Arizona. The Yuma King Project hosts the historical Yuma... Keep Reading...
Anteros Metals Enters Into Letter of Intent and Announces Private Placement of up to $1 Million

Anteros Metals Enters Into Letter of Intent and Announces Private Placement of up to $1 Million

Anteros Metals Inc. (CSE: ANT) ("Anteros" or the "Company") is pleased to announce that the Company and Rift Minerals Inc. ("Rift") have entered into a binding letter of intent (the "LOI") dated October 6, 2025, pursuant to which the Company has been granted an option (the "Option") to acquire a... Keep Reading...
Canadian Investment Regulatory Organization Trade Resumption - ANK

Canadian Investment Regulatory Organization Trade Resumption - ANK

Trading resumes in: Company: Angkor Resources Corp. TSX-Venture Symbol: ANK All Issues: Yes Resumption (ET): 11:15 AM CIRO can make a decision to impose a temporary suspension (halt) of trading in a security of a publicly-listed company. Trading halts are implemented to ensure a fair and orderly... Keep Reading...

Latest Press Releases

Related News