Beedie Investments Restricted Acquires Further Securities in Nova Royalty Corp.

Vancouver, British Columbia–(Newsfile Corp. – March 13, 2023) – Beedie Investments Restricted ( “Beedie”) publicizes that, on March 10, 2023, Nova Royalty Corp. (“Nova”) accomplished a draw down of $1.5 million (the “Fifth Advance”) underneath an present $25.0 million convertible mortgage facility (the “Mortgage Facility”) pursuant to the phrases of an amended and restated convertible mortgage settlement dated February 6, 2021, as amended efficient as of October 1, 2022 (the “Amended and Restated Mortgage Settlement”) between Beedie and Nova Royalty Corp. The Fifth Advance will probably be convertible into widespread shares within the capital of Nova (“Nova Shares”) at a conversion worth of $1.7852 per Nova Share, which represents a 20% premium above the 30-day quantity weighted common worth of the Nova Shares on the TSX Enterprise Alternate calculated as much as and together with March 9, 2023.

Moreover, on March 10, 2023 Beedie acquired 1,034,400 Nova Shares by the amenities of the TSX Enterprise Alternate at a worth of $1.45 per Nova Share (the “Share Acquisition”).

Instantly previous to the Fifth Advance and the Share Acquisition, Beedie, immediately or not directly, owns or controls 10,896,704 Nova Shares, which incorporates 1,855,443 Nova Shares that might be issuable if the prior unconverted advances underneath the Mortgage Facility are transformed into Nova Shares in accordance with the phrases of the Amended and Restated Mortgage Settlement.

Following completion of the Share Acquisition and assuming conversion in filled with the Fifth Advance into Nova Shares in accordance with the phrases of the Amended and Restated Mortgage Settlement, Beedie, immediately or not directly, would personal or management a complete of 12,771,345 Nova Shares, representing roughly 14.00% of the issued and excellent Nova Shares on {a partially} diluted foundation. Assuming conversion in filled with all the Mortgage Facility into Nova Shares in accordance with the phrases of the Amended and Restated Mortgage Settlement (assuming that each one subsequent advances underneath the Mortgage Facility are transformed into Nova Shares at a conversion worth of $1.7852 per share, representing a 20% premium above the 30-day VWAP the Nova Shares on the TSX Enterprise Alternate as of March 9, 2023), Beedie, immediately or not directly, would personal or management a complete of 21,453,846 Nova Shares, representing roughly 21.48% of the issued and excellent Nova Shares on {a partially} diluted foundation. The precise variety of Nova Shares issued pursuant to the conversion of any subsequent advances underneath the Mortgage Facility will rely on the 30-day VWAP of the Nova Shares on the TSX Enterprise Alternate relevant on the time.

The entire securities held by Beedie in Nova, together with the Nova Shares and the Amended and Restated Mortgage Settlement, are being held for funding functions. Beedie could sooner or later take such actions in respect of its Nova securityholdings because it deems applicable in mild of the market circumstances then present, together with the potential buy of further shares of Nova by open market purchases or privately negotiated transactions, or the sale of all or a portion of such holdings within the open market or in privately negotiated transactions to a number of purchasers, or Beedie could proceed to carry its present positions.

A duplicate of the early warning report regarding the Amended and Restated Mortgage Settlement will probably be accessible underneath Nova’s profile on SEDAR at www.sedar.com, and may be obtained by contacting Beedie Investments Restricted at 604-435-3321. Beedie’s head workplace is situated at Suite 1570 – 1111 West Georgia Road, Vancouver, BC, V6E 4M3, Canada.

Neither TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this information launch.

To view the supply model of this press launch, please go to https://www.newsfilecorp.com/launch/158145