Grenville Completes Investment in TruGolf Inc.

TORONTO, ONTARIO--(Marketwired - July 2, 2015) - Grenville Strategic Royalty Corp. (TSX VENTURE:GRC) ("Grenville") is pleased to announce that it has contracted for a gross sales royalty from TruGolf Inc. ("TruGolf") in exchange for an advance of $1,000,000 USD with an option, if agreed upon by both companies, to advance an additional $1,000,000 USD at a later date. In exchange for this advance, Grenville will receive a royalty based on TruGolf's gross revenue within Grenville's average royalty rate of between 1% and 4%.

Based in Centreville, Utah, TruGolf is a virtual golf Content Solution Provider that offers cutting edge technology for Cloud-based, real-time gaming, game improvement and alternative golf formats. Originally a subsidiary of Access Software, TruGolf formally spun off from the company in 1999 when Access Software was purchased by Microsoft, to focus on a growing market interest in golf software development. For more than 20 years, TruGolf has been passionately committed to recreating the artistry of the game and currently offers the most prestigious course library with almost 100 courses available, over 25 of which that are ranked among the "Top 100 Courses in the World" by Golf Digest. TruGolf's E6GOLF Software, a physics-based engine that replicates the precise behaviours of outdoor play, can be found in commercial and residential indoor golf simulators throughout the world.

TruGolf CEO, Chris Jones, says of the new investment, "TruGolf has been a leader in virtual golf simulation for many years, and with the release of E6 Cloud which will incorporate a number of exciting offerings never seen in the marketplace before. We believe the company stands poised to revolutionize not only the virtual golf simulation industry, but the sport as a whole. It has been incredibly exciting to partner with Grenville to execute our vision on a large scale."

"This is an exciting investment. Being offered the opportunity to purchase a royalty in TruGolf, as Chris Jones, TruGolf's CEO, and his uniquely assembled team of software programmers and avid golfers, expand into a cloud-enabled offering really is exceptional," says Grenville President and CEO William (Bill) R. Tharp. "TruGolf is a profitable business pivoting to take full advantage of the shifting appetite in golf with a sophisticated offering where their software skills are perfectly positioned. From cloud-enabled tournament-play to personal swing-stats management, Chris has positioned TruGolf to be a clear trend-setter in the strengthening digital-golf marketplace."