Freehold Royalties Ltd. Announces Closing of $120 Million Gross Overriding Royalty Joint Venture and Equity Financing

Freehold Royalties Ltd. Announces Closing of $120 Million Gross Overriding 
Royalty Joint Venture and Equity Financing 
NEWS RELEASE TRANSMITTED BY Marketwired 
FOR: Freehold Royalties Ltd. 
TSX SYMBOL:  FRU 
JULY 16, 2014 
Freehold Royalties Ltd. Announces Closing of $120 Million Gross Overriding
Royalty Joint Venture and Equity Financing 
CALGARY, ALBERTA--(Marketwired - July 16, 2014) -  
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES. 
Freehold Royalties Ltd. (Freehold) (TSX:FRU) announces that it has closed its
previously announced $120 million strategic joint venture (the Joint Venture)
with a Canadian based company in the East Edson area of Alberta. 
In conjunction with the closing of the Joint Venture, Freehold also completed
its previously announced bought deal financing, issuing 4,900,000 common shares
at a price of $26.90 per share (the Issue Price) for gross proceeds of
approximately $131.8 million, which included the partial exercise of the
over-allotment option granted to the underwriters. The bought deal offering was
completed through a syndicate of underwriters led by CIBC. 
Concurrent with the closing of the bought deal offering, the pension trust
funds for employees of Canadian National Railway Company (CN Pension Trust
Funds) purchased approximately $15 million (557,621 common shares) of Freehold,
at the Issue Price on a non-brokered private placement basis.  
The aggregate gross proceeds raised by Freehold pursuant to the bought deal
offering and the investment by the CN Pension Trust Funds totaled approximately
$146.8 million. Freehold used a portion of the net proceeds from the bought
deal offering and investment by the CN Pension Trust Funds to fund its
commitments pursuant to the Joint Venture and expects to use approximately $21
million to pay down a portion of outstanding indebtedness. 
The common shares offered have not been registered under the U.S. Securities
Act of 1933, as amended, and may not be offered or sold in the United States
absent registration or an applicable exemption from the registration
requirements.  
Cautionary Statement Regarding Forward-Looking Information - This news release
offers our assessment of Freehold's future plans and operations as at July
16, 2014 and contains forward-looking information including, Freehold's
expectations as to how it will use the net proceeds of the bought deal
offering. This forward-looking information is provided to allow readers to
better understand our business and prospects and may not be suitable for other
purposes. By its nature, forward-looking information is subject to numerous
risks and uncertainties, some of which are beyond our control, including the
impact of general economic conditions, industry conditions, volatility of
commodity prices, currency fluctuations, imprecision of reserve estimates,
environmental risks, taxation, royalties, regulation, competition from other
industry participants, the lack of availability of qualified personnel or
management, stock market volatility, and our ability to access sufficient
capital from internal and external sources. Risks are described in more detail
in Freehold's annual information form for the year ended December 31, 2013
which is available under Freehold's profile on SEDAR at www.sedar.com. 
With respect to forward looking information contained in this news release, we
have made assumptions regarding, among other things, future oil and natural gas
prices; future capital expenditure levels; future production levels; future
exchange rates; the cost of developing and producing our assets; our ability
and the ability of our lessees to obtain equipment in a timely manner to carry
out development activities; our expectation for industry drilling levels; and
our ability to obtain financing on acceptable terms.  
You are cautioned that the assumptions used in the preparation of such
information, although considered reasonable at the time of preparation, may
prove to be imprecise and, as such, undue reliance should not be placed on
forward-looking information. We can give no assurance that any of the events
anticipated will transpire or occur, of if any of them do, what benefits we
will derive from them. The forward-looking information contained herein is
expressly qualified by this cautionary statement. Except as required by law,
Freehold does not assume any obligation to publicly update or revise any
forward-looking information to reflect news events or circumstances.  
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FOR FURTHER INFORMATION PLEASE CONTACT: 
Freehold Royalties Ltd.
Matt Donohue
Manager, Investor Relations
403.221.0833 or Toll Free: 1.888.257.1873
403.221.0888
mdonohue@rife.com 
INDUSTRY:  Energy and Utilities - Oil and Gas  
SUBJECT:  JVN 
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-0- Jul/16/2014 12:34 GMT
 
 
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