Diversified Royalty Corp. Announces Filing of Preliminary Short Form Base Shelf Prospectus and Mr. Lube Q1 2021 Results

VANCOUVER, British Columbia, May 04, 2021 (GLOBE NEWSWIRE) -- Diversified Royalty Corp. (TSX: DIV and DIV.DB) (the “Corporation” or “DIV”) announced today that it has filed, and received receipt for, a preliminary short form base shelf prospectus (the “Prospectus”). The Prospectus was filed with the securities regulatory authorities in each of the Provinces of Canada, other than Quebec. The Prospectus was filed to provide DIV with financial flexibility and efficient access to Canadian capital markets to pursue strategic initiatives, which may include acquisitions of additional royalties. A copy of the Prospectus is available under DIV’s profile on SEDAR at www.sedar.com.

Once a receipt for the final Prospectus is received from the applicable securities regulators, the final Prospectus will be valid for a 25-month period during which time DIV may, from time to time, issue common shares, warrants, subscription receipts, debt securities, convertible securities or rights or any combination thereof, including in the form of units (collectively, the “Securities”), having an aggregate offering price up to Cdn$200 million. The specific terms of any offering of Securities will be described in one or more shelf prospectus supplements which will be filed at the time of the offering of such Securities.

Mr. Lube First Quarter Results

Mr. Lube Canada Limited Partnership (“Mr. Lube”) has reported its financial results for the three months ended March 31, 2021, which are available on SEDAR at www.sedar.com. Mr. Lube reported same-store-sales-growth (“SSSG”) of 3.9% for the Mr. Lube stores in the royalty pool for Q1 2021, an improvement compared to SSSG of -7.2% for the three months ended March 31, 2020, which results are consistent with the amounts reported in DIV’s news release dated April 29, 2021.

About Diversified Royalty Corp.

DIV is a multi-royalty corporation, engaged in the business of acquiring top-line royalties from well-managed multi-location businesses and franchisors in North America. DIV’s objective is to acquire predictable, growing royalty streams from a diverse group of multi-location businesses and franchisors.

DIV currently owns the Mr. Lube, AIR MILES, Sutton, Mr. Mikes, Nurse Next Door and Oxford Learning Centres trademarks. Mr. Lube is the leading quick lube service business in Canada, with locations across Canada. AIR MILES is Canada’s largest coalition loyalty program with approximately two-thirds of Canadian households actively participating in the AIR MILES Program. Sutton is among the leading residential real estate brokerage franchisor businesses in Canada. Mr. Mikes currently operates casual steakhouse restaurants primarily in western Canadian communities. Nurse Next Door is one of North America’s fastest growing home care providers with locations across Canada and the United States as well as in Australia. Oxford Learning Centres is one of Canada’s leading franchised supplemental education services in Canada and the United States.