Diversified Royalty Corp. Confirms Details of Partial Redemption of its 5.25% Convertible Unsecured Subordinated Debentures

VANCOUVER, British Columbia, May 04, 2022 (GLOBE NEWSWIRE) -- Diversified Royalty Corp. (TSX: DIV; DIV.DB and DIV.DB.A) (the “Corporation” or “DIV”) confirmed today that further to its news release dated March 30, 2022 and the redemption notice issued to the registered holder of DIV’s 5.25% convertible unsecured subordinated debentures (the “2022 Debentures”) on March 31, 2021 (the “Notice of Partial Redemption”), DIV will redeem an aggregate principal amount of $52.5 million of 2022 Debentures today, being approximately 91% of the aggregate principal amount of 2022 Debentures outstanding. The record date for determining which holders of 2022 Debentures shall be entitled to receive proceeds of the partial redemption was set as the close of trading on May 3, 2022. The redemption price will be approximately $1,017.9375 for each $1,000 principal amount of Debentures redeemed comprised of: (i) a payment of $1,000 of principal amount; and (ii) approximately $17.9375, being the accrued and unpaid interest up to but excluding May 4, 2022.