Diversified Royalty Corp. announces the results of its annual general meeting

VANCOUVER, British Columbia, June 20, 2024 (GLOBE NEWSWIRE) — Diversified Royalty Corp. (TSX: DIV and DIV.DB) (the “Company” or “DIV”) is pleased to announce that, at its annual general meeting of shareholders held on June 20, 2024 (the “Meeting”), all Appointed directors as listed in the DIV information circular dated May 10, 2024 were elected for the following year. As voting is not required, the number of votes disclosed in the table below reflects only the proxies received by DIV management prior to the meeting:

DIV has also filed a report of the voting results of all resolutions voted on at the meeting on SEDAR+ at www.sedarplus.com.

About Diversified Royalty Corp.

DIV is a multi-royalty company engaged in the business of acquiring premium royalties from well-managed multi-location companies and franchisors throughout North America. DIV’s objective is to acquire predictable and growing royalty streams from a diverse group of multi-location businesses and franchisors.

DIV currently owns the Mr. Lube + Tires, AIR MILES®, Sutton, Mr. Mikes, Nurse Next Door, Oxford Learning Centers, Stratus Building Solutions and BarBurrito brands. M. Lube + Tires is Canada’s leading quick lube service company, with locations across Canada. AIR MILES® is the largest coalition loyalty program in Canada. Sutton is one of the leading residential real estate brokerage franchisor companies in Canada. Mr. Mikes operates casual steakhouses primarily in Western Canadian communities. Nurse Next Door is a home care provider located across Canada, the United States and Australia. Oxford Learning Centers is one of Canada’s leading franchised further education services. Stratus Building Solutions is a leading commercial cleaning service franchise offering comprehensive janitorial, building cleaning and eco-friendly office cleaning services primarily in the United States. BarBurrito is the largest chain of quick service Mexican restaurants in Canada.

DIV’s objective is to increase cash flow per share by making accretive royalty purchases and increasing purchased royalties. DIV intends to continue to pay a predictable and stable monthly dividend to shareholders and to increase the dividend over time, in each case to the extent cash flow per share permits.

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Forward-looking statements

Certain statements contained in this press release may constitute “forward-looking information” within the meaning of applicable securities laws that involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or actual achievements are significantly different from any future ones. results, performance or achievements expressed or implied by such forward-looking information. The use of any of the words “anticipate”, “continue”, “estimate”, “expect”, “intend”, “may”, “will”, “project”, “should” “, “believe”, “confident”, “plan” and “intend” and similar expressions are intended to identify forward-looking information, although not all forward-looking information contains these identifying words. Specifically, forward-looking information contained in this press release includes, but is not limited to, statements made regarding: DIV’s objective to continue to pay predictable and stable monthly dividends to shareholders; and DIV’s corporate objectives. These statements involve known and unknown risks, uncertainties and other factors that may cause the actual results or events, performance or achievements of DIV to differ materially from those anticipated or implied by such forward-looking information. DIV believes that the expectations reflected in the forward-looking information included in this press release are reasonable, but no assurance can be given that such expectations will prove to be correct. In particular, there can be no assurance that: DIV will be able to pay monthly dividends to holders of its ordinary shares; or DIV will achieve one of its corporate objectives. Given these uncertainties, readers are cautioned that the forward-looking information included in this press release is not guarantee of future performance and undue reliance should not be placed on such forward-looking information. Further information on the risks and uncertainties affecting DIV’s business and those of its royalty partners can be found in the “Risk Factors” section of its annual information form dated March 21, 2024 and in its most recent MD&A, copies of each of which are available under DIV’s profile on SEDAR+ at www.sedarplus.com.

In formulating the forward-looking information contained herein, management has assumed that, among other things, DIV will generate sufficient cash flow from its royalties to service its debt and pay dividends to shareholders; business and economic conditions affecting DIV and its royalty partners will continue substantially in the ordinary course, including, without limitation, with respect to general industry conditions, general levels of economic activity and regulations. These assumptions, although considered reasonable by management at the time of preparation, may prove to be incorrect.

Any forward-looking statements made in this press release are accompanied by these and other cautionary statements or factors contained herein, and there can be no assurance that actual results or developments will be realized or, even if are substantially achieved, that they will have the expected consequences or effects on the DIV. The forward-looking information included in this press release is presented as of the date of this press release and DIV undertakes no obligation to publicly update or revise such information to reflect new events or circumstances, except as required by applicable law. ‘required.

THE TORONTO STOCK EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Further information

Additional information regarding the Company and other public filings is available on SEDAR at www.sedar.com.

Contact:
Sean Morrison, President and CEO
Diversified royalty company
(236) 521-8470

Greg Gutmanis, CFO and Vice President of Acquisitions
Diversified royalty company
(236) 521-8471