From My Watch List: SRR.V

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dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

From My Watch List: SRR.V

Post by dan_s »

SRR is a micro-cap (just $37Cdn million market-cap) that was brought to my attention by one of our members in Calgary. Current dividend yield is ~8%. I called the Founder/CEO last week. They want to get a U.S. listing later this year. When they do, I hope to get them to host a luncheon for us.

Source Rock Royalties Ltd.
May 15, 2023, 08:00 ET

CALGARY, AB, May 15, 2023 /CNW/ - Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR) (TSXV: SRR.WT) a pure-play oil and gas royalty company with an established portfolio of light oil focused royalties, announces that its board of directors has declared a monthly dividend of $0.0055 per common share ($0.066Cdn/year), payable in cash on June 15, 2023 to shareholders of record on May 31, 2023.

This dividend is designated as an "eligible dividend" for Canadian income tax purposes.

About Source Rock Royalties Ltd.
Source Rock is a pure-play oil and gas royalty company with an existing, light oil focused portfolio of royalty interests concentrated in southeast Saskatchewan, east-central Alberta, west-central Alberta and west-central Saskatchewan. Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock's strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.
Dan Steffens
Energy Prospectus Group
tlengoc
Posts: 69
Joined: Thu Feb 23, 2023 1:38 pm

Re: From My Watch List: SRR.V

Post by tlengoc »

https://www.newswire.ca/news-releases/source-rock-royalties-closes-upsized-initial-public-offering-for-gross-proceeds-of-12-3-million-841353659.html


CALGARY, AB, March 1, 2022 /CNW/ - Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR) (TSXV: SRR.WT) announces that it has closed its initial public offering (the "Offering") of 13,667,100 units (each a "Unit" and collectively, the "Units") at a price of $0.90 per Unit (the "Offering Price") (including 333,100 Units sold in connection with the partial exercise of the Over-Allotment Option), for aggregate gross proceeds of $12,300,390, pursuant to a long form prospectus dated February 23, 2022 (the "Prospectus"). The Underwriters (as defined below) retain an option for 30 days following March 1, 2022 to purchase up to an additional 1,667,000 Units (in addition to the 333,100 Units already purchased) at the Offering Price (the "Over-Allotment Option").

Each Unit consists of one common share of Source Rock (each a "Common Share" and collectively, the "Common Shares") and one-half of one Common Share purchase warrant (each whole warrant a "Warrant" and collectively, the "Warrants"). Each Warrant entitles the holder to purchase one Common Share of Source Rock at an exercise price of $1.25 until March 1, 2024.

Source Rock's Common Shares and the Warrants are expected to commence trading on the TSX Venture Exchange ("TSXV") on March 2, 2022 under the symbols "SRR" and "SRR.WT", respectively.


The securities under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States. Accordingly, the securities may not be offered, sold or delivered, directly or indirectly, within the United States or to, or for the account or benefit of, U.S. Persons (as such term is defined in Regulation S under the U.S. Securities Act), unless being done so pursuant to exemptions from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of securities in the United States. This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities of Source Rock in the United States or any jurisdiction in which such offer, solicitation or sale would be unlawful.

About Source Rock Royalties Ltd.

Source Rock is a pure-play oil and gas royalty company with an existing, light oil focused portfolio of royalty interests concentrated in southeast Saskatchewan, east-central Alberta, west-central Alberta and west-central Saskatchewan. Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock's strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.
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