Grenville leads $500k royalty funding of chef service Factor75

Canadian royalty financing firm Grenville Strategic Royalty Corp has led a US$500,000 royalty investment in Factor75 LLC, an online personalized chef service based in Chicago. Grenville partnered in the funding deal with Foregrowth Holdco Inc and Darwin Strategic Royalty Corp. Grenville established a joint venture with Foregrowth, an affiliate of Gravitas Ilium Corp, and Darwin in October. Founded in 2011, Factor75 prepares and delivers meals throughout the United States.

PRESS RELEASE

Grenville and Joint Venture Partners Complete US$500,000 Royalty Investment in Factor75, LLC

TORONTO, ONTARIO–(Marketwired – Dec. 19, 2016) – Grenville Strategic Royalty Corp. (TSX VENTURE:GRC) (“Grenville”), along with partners Foregrowth Holdco Inc. (“Foregrowth”) and Darwin Strategic Royalty Corp. (“Darwin”), is pleased to announce that it has contracted for a gross sales royalty from Factor75, LLC (“Factor 75”) in exchange for an advance of $500,000 USD. As part of the joint venture agreements with Foregrowth and Darwin, Grenville will fund $250,000 USD of the investment, while Foregrowth and Darwin will each fund $125,000 USD. Investors will receive a royalty based on Factor 75’s gross revenue within Grenville’s average royalty rate of between 1% and 4%.

Based in Chicago, Illinois, Factor 75 is a performance nutrition company dedicated to optimizing people’s lives, by providing them with more time, energy and a fresh perspective on how to live. Crafted by leading nutritionists and chefs, Factor 75 uses the highest quality ingredients in its meals coupled with culinary excellence to provide customers with optimal nutrition and exceptional taste.

Factor 75 Chief Executive Officer, Nick Wernimont, commented, “Partnering with Grenville provides Factor 75 with the capital for our next phase of growth and to meet the rapidly growing demand for our product. We look forward to working with Grenville to build and strengthen our company further.”

Grenville CEO Steve Parry, says of the new investment, “This is an exciting investment for Grenville and our joint venture partners. Factor 75 brings its customers a transformative product and we’re excited to be part of the company’s expansion and development.”

About Factor 75

Factor 75, an online personalized chef service based in Chicago, prepares and delivers meals throughout the United States. Our meals are specially designed by a team of nutritionists and chefs to provide an optimal balance of nutrition and taste to enhance performance in all aspects of your life. Our name is based on research showing 75% or more of your fitness results come from what you eat. Factor 75 is about outsourcing your nutrition so you can spend more time doing the activities you love while still enjoying and feeling good about what you eat.

About Grenville

Based in Toronto, Grenville Strategic Royalty Corp. is a publicly-traded royalty company that makes investments in established businesses with revenues of up to $50 million dollars. Grenville generates revenues from royalty payments and buyouts from contracts. The non-dilutive royalty financing structure offered by Grenville competes directly with traditional equity to meet the long-term financing needs of companies on more attractive commercial terms.

Contact Information

Grenville Strategic Royalty Corp.
Steven Parry
Chief Executive Officer
(416) 777-0383

Photo courtesy of Factor 75 LLC