Toronto – June 26, 2018. Tidal Royalty Corporation (CSE:RLTY) (“Tidal Royalty”) is pleased to announce the appointment of Brian Penny, CPA, CMA, to its Board as an independent Director. Mr. Penny, a seasoned senior executive, will also Chair the company’s Audit Committee.
Mr. Penny is a Chartered Professional Accountant with over 30 years of experience in financial management, strategic planning, and financial reporting. He was Executive Vice President and CFO of New Gold Inc. (TSX:NGD), a multi-national mining company, from 2009 until 2017. Mr. Penny served as the Vice President of Finance and CFO of Kinross Gold Corporation (TSX:K), one of the world’s largest gold producers, from 1993 until 2004. He has also served as CFO of Western Goldfields Inc. and Silver Bear Resources, and as a member of the Board of Equinox Minerals Limited, Alamos Gold Inc. and Baffinland Iron Mines Limited.
“I am very pleased that Brian has joined Tidal Royalty’s Board and agreed to serve as chair of the company’s audit committee,” said Tidal Royalty CEO and Chairman Paul Rosen. “Brian’s incredible career as a senior financial executive, CFO and Director of some of the world’s largest resource companies provides Tidal Royalty with access to unique insight on how to refine our royalty financing business model. To have someone of Brian’s stature join Tidal Royalty’s Board is a testament not just to the business opportunity in front of us, but also to the caliber of executive team that Tidal Royalty has assembled to execute on its business model.”
In his career, Mr. Penny has overseen billions of dollars of financing, completed an initial public offering, and overseen financial reporting and disclosure for numerous reporting issuers. “I am very excited to join Tidal Royalty’s Board of Directors. Doing so is not a decision that I take lightly, and I was impressed by the Tidal Royalty team’s industry knowledge and unique perspective. Moreover, there is a great deal of overlap between its royalty financing products for regulated U.S. cannabis operators and the strategies we have implemented in mining in the past.”
Tidal Royalty Corp.
Terry Taouss, President
This news release contains certain "forward-looking information" within the meaning of applicable Canadian securities law. Forward-looking information is frequently characterized by words such as "plan", "continue", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. Readers are cautioned that forward-looking information contained in this new release is not based on historical facts but instead is based on reasonable assumptions and estimates of management. Forward-looking information contained in this news release includes, but is not limited to: the ability to enter into definitive documentation in respect of letters of intent currently entered into by the company, the ability of the company to enter into additional letters of intent and associated definitive documentation with current or further proposed investee companies, the operating and financial performance of any investee company to be funded by Tidal Royalty from time to time, the ability of the company to generate revenue or realize profit through royalty agreements with any future investee companies, the anticipated use of proceeds from private placements completed by the company and the effectiveness of the company’s Advisory Board in providing strategic advice. Forward- looking information contained herein is based on the opinions and reasonable assumptions and estimates of management as at the date hereof, and is subject to a variety of known and unknown risks and uncertainties and other factors that could cause actual events or results of the company to differ materially from those expressed or implied in the forward-looking information. Such factors include: U.S. regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change, risks relating to anti-money laundering laws and regulation, other governmental and environmental regulation, public opinion and perception of the cannabis industry, risks related to the enforceability of contracts, the requirement by the company to obtain additional financing, the limited operating history of the company, timeliness of government approvals for granting of permits and licences needed by any future investee companies, including licences to cultivate cannabis, the actual operating and financial performance of any future investee company may differ materially from that anticipated by the company, competition and other risks affecting the company in particular and the U.S. cannabis industry generally and the risk factors effecting the company disclosed in the listing statement of the company available at www.sedar.com. Because of such risks, uncertainties and other factors, investors should not place undue reliance on the forward-looking information contained herein. The company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law. The foregoing statements expressly qualify the forward-looking information contained herein. This release does not constitute an offer for sale of, nor a solicitation for offers to buy, any securities in the United States.
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