RE Royalties Cancels Equity Offering Amid Early Client Loan Repayment

Vancouver-based RE Royalties Ltd., a company specializing in renewable energy royalty financing, has announced the cancellation of its recent equity offering. The offering, which proposed up to 10,625,000 units at $0.32 per unit, aimed to raise a total of $3.4 million. The decision to halt the process arose from clients' early loan repayments and recent stock volatility not linked to any significant company changes, as stated by management.

Despite interest from new investors, the firm concluded that proceeding with the offering was not in shareholders' best interest. CEO Bernard Tan expressed gratitude towards investors and reaffirmed the company's strong capital position. This will enable RE Royalties to explore new investment opportunities and address upcoming Series 1 Green Bonds maturity.