TORONTO, ONTARIO–(Marketwired – May 5, 2014) – Grenville Strategic Royalty Corp. (TSX VENTURE:GRC) (“Grenville”) is pleased to announce that it has advanced an additional USD$250,000 to Clear Blue Technologies Inc. (“Clear Blue”) in connection with its previously acquired gross sales royalty. In exchange for the amounts advanced to Clear Blue, Grenville will receive a royalty based on Clear Blue’s gross revenues within Grenville’s targeted 1% – 4% royalty range, subject to certain adjustments.
Clear Blue Technologies Inc. is a technology company whose employees have more than 20 years experience in the engineering and high-technology fields. Clear Blue’s vision to combine environmentally-friendly energy with innovative hardware in order to deliver reliable, intelligent, and high performance Smart Off-Grid solutions that are easy to install, reduce the total cost of ownership and can be monitored and controlled over the internet. Clear Blue’s Horizon controller and Horizon cloud software can be integrated into a wide variety of products or used as the basis for smart Off-Grid lighting, security and microgrid installations.
“We are very excited for the opportunity to further our investment in Clear Blue, the company has showed us significant process over the last 6 months and we are confident that Miriam, John, Mark and the Clear Blue team will continue to grow the business for years to come”, said William (Bill) R. Tharp, Grenville’s Chief Executive Officer. “We have a very solid working relationship with the Clear Blue team and are enthusiastic to further our existing partnership”.
Miriam Tuerk, Co-Founder, President and CEO of Clear Blue commented: “Grenville’s investment in Clear Blue will be instrumental in accelerating our growth in the green energy market by enabling us to expand our resources and investment in our Smart Off-Grid technology”.
Clear Blue represents Grenville’s 10(th) investment since its inception in July, 2013. To date, Grenville has completed approximately $5.95 million in royalty-based financings across Canada and the US.
About Clear Blue
Clear Blue Technologies Inc. is a technology company whose employees have more than 20 years experience in the engineering and high-technology fields. Clear Blue’s vision to combine environmentally-friendly energy with innovative hardware in order to deliver reliable, intelligent, and high performance Smart Off-Grid solutions that are easy to install, reduce the total cost of ownership and can be monitored and controlled over the internet. Clear Blue’s Horizon controller and Horizon cloud software can be integrated into a wide variety of products or used as the basis for Smart Off-Grid lighting, security and microgrid installations. For more information about Clear Blue, visit http://www.clearbluetechnologies.com/
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.
See full press release here