CALGARY, AB, July 8, 2022 /CNW/ – Source Rock Royalties Ltd. (“Source Rock”)(TSXV: SRR)(TSXV: SRR.WT), a pure-play oil and gas royalty company with an established portfolio of light oil focused royalties in Saskatchewan and Alberta, announces that pursuant to its Restricted Share Unit and Deferred Share Unit Compensation Plan, it has granted (i) 472,500 deferred share units (each, a “DSU”); and (ii) 307,500 restricted share units (each, a “RSU”), to officers, directors and consultants.
Each DSU represents the right to receive one common share of Source Rock upon the holder of such DSU ceasing to be an officer, director or consultant of Source Rock. Each RSU entitles the holder to acquire one common share of Source Rock, or a cash payment equal to the equivalent value of one common share of Source Rock at the time of vesting, or a combination of both. The RSU’s granted shall vest 1/3 on July 8, 2023, 1/3 on July 8, 2024 and 1/3 on July 8, 2025.
About Source Rock Royalties Ltd.
Source Rock is a pure-play oil and gas royalty company with an existing, light oil focused portfolio of royalty interests concentrated in southeast Saskatchewan, east-central Alberta, west-central Alberta and west-central Saskatchewan. Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock’s strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.
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