Diversified Royalty Corp. Announces Closing of Mr. Lube Trademark Acquisition and Royalty Transaction
Summary
Sean Morrison, President and Chief Executive Officer of DIV, stated, "We are pleased to have successfully closed the transaction and are looking forward to working with Mr. Lube in the future." Further details with respect to the Transaction and the Offering are set out in DIVs final short form prospectus dated August 11, 2015, a copy of which is available on SEDAR at www.sedar.com. Franworks operates mid-tier casual neighborhood pub restaurants under the Original Joes, State & Main, and Elephant & Castle brands across Canada and in select U.S. markets and generates over $225 million of gross sales annually. In particular, there can be no assurance that: DIV will increase its annual dividend in the amount and in accordance with the timing currently expected, or at all; the Toronto Stock Exchange will halt the trading in and de-list the Subscription Receipts in accordance with the timing currently expected, or at all; DIV will be able to achieve any of its corporate objectives or make monthly dividend payments to the holders of its common shares. DIV undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by law.