Mr. William Tharp reports
GRENVILLE COMPLETES INVESTMENT IN ONE UP GAMES, LLC AND INTERIM UPDATE
Grenville Strategic Royalty Corp. has contracted for a gross sales royalty from OneUp Games LLC in exchange for an advance of $2-million (U.S.), with an option, if approved by both parties, to advance an additional $1-million (U.S.).
OneUp Games agreement
OneUp Games is a leading mobile sports network that develops global live-play, sports-based, social gaming platforms for mobile users. Through its premium mobile sports platform, fans are linked to teams, leagues, sponsors and sports media properties while being offered a deeper and more engaging live sports experience. As a leading second-screen sports provider, OneUp Games has developed partnerships with the National Football League, Major League Baseball, National Basketball Association, National Hockey League, PGA Tour and Nascar, together with more than 30 professional and college teams. OneUp Games is located in West Palm Beach, Fla.
"OneUp's [chief executive officer], Daren Trousdell, and the OneUp team are changing the way fans watch sports. Their second-screen platform offers considerable value to all parties involved: the teams, leagues, sponsors and fans," said William (Bill) R. Tharp, president and chief executive officer of Grenville. "We've really enjoyed working with Daren and the OneUp team, and are pleased to be able partner with such a revolutionary company -- a great diversified addition to our growing Grenville portfolio."
"Grenville's innovative product was a fantastic fit for our growth plan," said Daren Trousdell, CEO of OneUp Games. "Grenville's team took the time to fully understand our business model and develop a solution tailored to our needs. As a partner, we feel Grenville can help us achieve our business goals while preserving value for our existing partners and shareholders."
The investment in Securite Above Inc. announced yesterday and the OneUp Games investment represent Grenville's 16th and 17th investments, respectively, since Grenville's inception in July, 2013.
"These are two solid, back-to-back additions to the Grenville portfolio that provide further material portfolio diversification in [information technology] security and mobile sports applications. Candidly, the quality of deals we are seeing attracted to our form of capital is stronger than we had anticipated: solid, fast-growth companies run by experienced management teams with focused vision. Additions like these should result in even stronger portfolio returns with lower volatility," said Mr. Tharp. "In just over 12 months, Grenville has deployed almost $20-million in capital in a growing and diversified small-cap, public and private royalty portfolio. This month alone, Grenville has invested just over $4-million in additional royalty partners, with a quantity of deal flow at its highest since the company's inception. Grenville's average quarterly invested capital, not including follow-on investments in existing portfolio companies, has increased from just over $550,000 in our first quarter (the fourth quarter of 2013) to just over $3.2-million during the current quarter. Management is proud of this accomplishment and believes that these trends will continue given the robust pipeline we are seeing."
About OneUp Games
OneUp Sports offers no-holds-barred, live-action, edge-of-your-seat, split-second-decision-making, mobile sports platforms that offer a deeper and more engaging live sports experience. They enhance TV sports watching, using the power of mobile and social platforms to bring professional sports teams, fans and friends together like never before.
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