Canadian royalty financing firm Grenville Strategic Royalty Corp has led a $250,000 royalty investment in eSCRIBE, a North American provider of secure cloud-based paperless board meeting software solutions. Grenville funded $125,000 of the investment and has partnered with Foregrowth Holdco Inc and Darwin Strategic Royalty Corp, both of which will fund $62,500. Founded in 2003 and based in Toronto, eSCRIBE is a cloud-based configurable suite of collaborative meeting management software. eSCRIBE will use the financing to expand in North American and international markets.
Grenville and Joint Venture Partners Complete CDN$250,000 Royalty Investment in eSCRIBE
TORONTO, ONTARIO–(Marketwired – Dec. 28, 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 eSCRIBE (“Escribe”) in exchange for an advance of $250,000 CDN. As part of the joint venture agreements with Foregrowth and Darwin, Grenville will fund $125,000 CDN of the investment, while Foregrowth and Darwin will each fund $62,500 CDN. Grenville and the joint venture partners will receive a royalty based on Escribe’s gross revenue within Grenville’s average royalty rate of between 1% and 4%.
Founded in 2003, eSCRIBE is a leading North American provider of secure cloud based paperless board meeting software solutions, and has become the go-to choice of public and private sector boards, committees and councils looking to boost transparency, citizen participation, improve organizational efficiency and meet evolving accessibility standards. eSCRIBE’s Microsoft Azure cloud-based configurable suite of collaborative meeting management software can be used to create and enforce predictable, repeatable meeting patterns for collaboration among people working under a mandate towards a goal.
“We are pleased to welcome Grenville and its partners as one of the lead investors in our latest investment round,” said Robert Treumann, eSCRIBE’s Chief Executive Officer. “With the closing of this strategic growth capital, our already competitive solution set, and expanded Microsoft co-selling partnership, we are well positioned to continue to expand both our North American and International footprint.”
Grenville CEO, Steve Parry, commented, “Escribe is at the forefront of its industry as a paperless meeting automation solution and governance platform and we look forward to helping the company expand its reach with this investment.”
eSCRIBE is a leading independent cloud provider of paperless legislative meeting management solutions. eSCRIBE’s robust user configurable meeting management engine and award winning SharePoint integration, is the go-to choice of public and private sector boards, committees and councils looking to improve efficiency, transparency and accessibility while at the same time reducing costs and impact to the environment. With eSCRIBE meeting outputs can be easily published to the web, indexed to video and audio if available; all in accordance with evolving access and accessibility requirements. With a broad base of experience and industry certifications in the design, development and support of custom legislative business process management solutions; eSCRIBE’s internal team of subject matter experts, project managers, business consultants, software engineers, quality assurance testers, and documentation experts do not outsource or subcontract any of the development, support or enhancement of its products.
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.
Grenville Strategic Royalty Corp.
Chief Executive Officer
Tel: (416) 777-0383