Exchange Bulletin

Lithium Royalty Corp. (LIRC) To Trade On Toronto Stock Exchange

March 13, 2023
Issuer: Lithium Royalty Corp. (the "Company")
Security: Common shares ("Shares")
Symbol: LIRC
Issue price per security: CDN$17.00
Number of securities issued and outstanding: 24,736,472 (assuming no exercise of over-allotment option)
Number of securities reserved for issuance: 34,637,098
Listing category: Industrial, Non-Exempt
Trading currency: CDN $
Transaction: Initial public offering of Shares (the "Offering")
Listing date: March 14, 2023 (as at 5:01 p.m.) in anticipation of closing of the Offering.
Anticipated closing date: March 15, 2023 (prior to the opening)
Posted for trading date: March 15, 2023 (at the opening) subject to confirmation of closing of the Offering.
End of trading on an "if, as and when issued" basis: The Shares commenced trading on TSX on an "if, as and when issued" basis on Thursday, March 9, 2023. Subject to the closing of the Offering occurring as scheduled prior to the opening of business on Wednesday, March 15, 2023, trading on an "if, as and when issued" basis will conclude at the close of business on Tuesday, March 14, 2023, unless the closing of the Offering has been delayed.
Other market(s): None.
Temporary market maker: Independent Trading Group (ITG) Inc.
Investor relations: Ernie Ortiz
President and CEO
(416) 572-3900
Incorporation: Canada Business Corporations Act
Fiscal year end: December 31
Nature of business: The Company is a lithium-focused royalty company with a diversified portfolio of royalties on mineral properties around the world that supply and are expected to supply raw materials to support the electrification and decarbonization of the global economy.
Transfer agent and registrar: TSX Trust Company at its principal offices in Toronto.
Dividends: The Company has not declared or paid any dividends since its incorporation and does not intend to declare or pay any dividends prior to completion of the Offering. The Company anticipates that the Board will adopt a dividend policy after the Company achieves sufficient cash flow from its royalty portfolio. Any determination to pay dividends on its securities will be at the discretion of the Board.
Sponsorship: Waived
Disclosure document: Final base PREP prospectus and supplemented PREP prospectus dated March 8, 2023 (the "Prospectus"), which are available at Capitalized terms not otherwise defined herein are as defined in the disclosure documents.
Initial public offering: Pursuant to the terms of the Prospectus, Canaccord Genuity Corp., Citigroup Global Markets Canada Inc., TD Securities Inc., Cormark Securities Inc., National Bank Financial Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., Raymond James Ltd. and Red Cloud Securities Inc. (the "Underwriters") are offering to the public 8,824,000 Shares from treasury at a price of $17.00 per Share (the "Offering Price"), for gross proceeds of approximately $150,008,000 to the Company (assuming the over-allotment option is not exercised). In addition, the Company has granted to the Underwriters an over-allotment option pursuant to which the Underwriters may purchase up to an additional 15% of the Offering from treasury at the Offering Price.
TSX contact: Selma Thaver,
Managing Director,
TSX Listings