Exchange Bulletin
Lithium Royalty Corp. (LIRC) To Trade On Toronto Stock Exchange
March 9, 2023
| Issuer: | Lithium Royalty Corp. (the "Company") |
| Security: | Common shares (the "Shares") |
| Symbols: | LIRC |
| Transaction: | A total of 8,824,000 Shares are being offered to the public at a price of C$17.00 per Share (the "Offering Price") for total gross proceeds of approximately C$150,000,000 pursuant to a prospectus offering (the "Offering") that is scheduled to close before the opening on March 15, 2023. In addition, the Company has granted to the Underwriters an over-allotment option pursuant to which the Underwriters may purchase up to 1,323,600 additional Shares at the Offering Price. |
| Commencement of trading: | Further to Toronto Stock Exchange ("TSX") Bulletin 2023-0154 dated March 7, 2023, the Shares will commence trading on TSX on an "if, as and when issued" basis as soon as possible after 9:30 a.m. (Toronto time) today, Thursday, March 9, 2023, under the symbol LIRC. |
| Settlement: | Subject to the closing of the Offering on Wednesday, March 15, 2023, all trades in LIRC in the "if, as and when issued" market on: (i) March 9, 2023 and March 10, 2023 will be for special settlement on March 15, 2023 and (ii) March 13, 2023 and March 14, 2023 will be for special settlement two business days after the trade date and will appear on the Settlement Report from CDS Clearing and Depository Services Inc. Upon closing, TSX will issue a trader note confirming: (i) the closing; and (ii) that the Shares will no longer trade on an "if, as and when issued" basis but will trade thereafter on a regular settlement basis. If the Offering does not close, all of the "if, as and when issued" trades will be cancelled. No securities will be delivered and no money will be owed by purchasers to sellers. Parties who are entitled to receive Shares under the Offering may sell such securities in the "if, as and when issued" market without being subject to restrictions on short sales. Parties who are not entitled to receive Shares under the Offering must comply with the short sale rule in all respects for any sales they make in the "if, as and when issued" market. |
| Disclosure documents: | Final base PREP prospectus dated March 8, 2023, press release dated March 8, 2023 and supplemented PREP prospectus to be dated March 8, 2023 and filed March 9, 2023, which are available at www.SEDAR.com. Capitalized terms not otherwise defined herein are as defined in the disclosure documents. |
| Additional information: | See TSX Bulletin 2023-0154 dated March 7, 2023. |
| TSX contact: | Selma Thaver, Managing Director, TSX Listings |