Exchange Bulletin
Lithium Royalty Corp. (LIRC) To Trade On 兔子先生
March 7, 2023
| Issuer: | Lithium Royalty Corp. (the "Company") |
| Security: | Common shares (the "Shares") |
| Symbol: | LIRC |
| Trading Currency: | CDN $ |
| Transaction: | An application has been conditionally approved by 兔子先生 ("TSX") for the listing of Shares of the Company, subject to completion of a proposed initial public offering (the "Offering") of these securities as described in the Company's Amended and Restated Preliminary Base Prep Prospectus dated February 23, 2023 (the "Prospectus"). It is anticipated that, in the next few days, the Company will file a final base PREP prospectus and a supplemented PREP prospectus for its Offering of Shares. As soon as possible after the final base PREP prospectus is cleared by the relevant securities regulatory authorities and a supplemented PREP prospectus is filed, TSX will post the Shares for trading on an "if, as and when issued" basis under the trading information set out herein. Before the Shares are posted for trading on such basis, TSX will issue a trader note confirming both the pricing and the expected closing date for the Offering. If and when the Offering closes, the Shares will be listed on TSX. |
| Temporary market maker: | Independent Trading Group (ITG) Inc. |
| Other markets: | None |
| Settlement: | Subject to the closing of the Offering: (i) all trades in "LIRC" on and before the third trading day preceding the closing date will be for special settlement on the closing date and will appear on the Settlement Report from CDS Clearing and Depository Services Inc. ("CDS"); and (ii) all trades in "LIRC" for each of the two trading days preceding the closing date will be for special settlement two business days after the trade date and will appear on the Settlement Report from CDS. If the Offering does not close, all of the "if, as and when issued" trades will be cancelled. No securities will be delivered and no money will be owed by purchasers to sellers. Parties who are entitled to receive Shares under the Offering may sell such securities in the "if, as and when issued" market without being subject to restrictions on short sales. Parties who are not entitled to receive Shares under the Offering must comply with the short sale rule in all respects for any sales they make in the "LIRC" "if, as and when issued" market. If and when the Offering closes, there will be no further trading in "LIRC" on an "if, as and when issued" basis and the Shares issued at such closing will trade on a regular settlement basis. |
| Listing category: | Industrial, Non-Exempt Issuer |
| Investor relations: | Ernie Ortiz President and CEO ernie.ortiz@lithiumroyaltycorp.com (416) 572-3900 |
| Incorporation: | Canada Business Corporations Act |
| Fiscal year end: | December 31 |
| Nature of business: | The Company is a lithium-focused royalty company with a diversified portfolio of royalties on mineral properties around the world that supply and are expected to supply raw materials to support the electrification and decarbonization of the global economy. |
| Transfer agent and registrar: | TSX Trust Company at its principal offices in Toronto. |
| Dividends: | The Company has not declared or paid any dividends since its incorporation and does not intend to declare or pay any dividends prior to completion of the Offering. The Company anticipates that the Board will adopt a dividend policy after the Company achieves sufficient cash flow from its royalty portfolio. Any determination to pay dividends on its securities will be at the discretion of the Board. |
| Sponsorship: | Waived |
| Disclosure document: | The Company's Amended and Restated Preliminary Base Prep Prospectus dated February 23, 2023, which is available at . Capitalized terms not otherwise defined herein are as defined in the disclosure document. |
| Initial public offering: | Pursuant to the terms of the Prospectus, Canaccord Genuity Corp., Citigroup Global Markets Canada Inc., TD Securities Inc., Cormark Securities Inc., National Bank Financial Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., Raymond James Ltd. and Red Cloud Securities Inc. (the "Underwriters") are offering to the public between 7,894,737 and 9,375,000 Shares at a price anticipated to be between $16.00 to $19.00 per Share (the "Offering Price"), for gross proceeds of approximately $150,000,000 (assuming the over-allotment option is not exercised). In addition, the Company has granted to the Underwriters an over-allotment option pursuant to which the Underwriters may purchase up to an additional 15% of the Offering from treasury at the Offering Price. |
| TSX contact: | Selma Thaver, Managing Director, TSX Listings |