Mr. William Tharp reports

GRENVILLE COMPLETES INVESTMENT IN LATTICE BIOLOGICS AND APPOINTMENT OF LEAD DIRECTOR

Grenville Strategic Royalty Corp. has contracted for a gross sales royalty from Lattice Biologics Inc. in exchange for an advance of $2-million (U.S.), with an option, if agreed upon by both companies, to advance an additional $1.5-million (U.S.). In exchange for this advance, Grenville will receive a royalty based on Lattice's gross revenue within Grenville's average royalty rate of between 1 per cent and 4 per cent.

Lattice Biologics investment

Lattice Biologics is a leader in the innovative medical field of allograft health care services, producing allograft products for use in various clinical applications. Known industrywide for its allograft quality, operational efficiency and customer satisfaction, Lattice operates from its state-of-the-art facility in Phoenix, Ariz. Lattice Biologics' staff of highly trained tissue bank specialists, surgical technicians, certified sterile processing and distribution technicians, and CNC operators maintain the highest standards of aseptic technique throughout each step of the manufacturing process, from donor acceptance to the final packaging and distribution of finished allografts.

"We welcome the opportunity to invest with Guy Cook and the team at Lattice Biologics," noted William (Bill) R. Tharp, president and chief executive officer of Grenville. "This is our second health care investment, part of our continued effort to provide broad diversification in our investment portfolio."

"Lattice Biologics is a fast-growing company in an exciting part of the health care industry," stated Guy Cook, president and CEO of Lattice Biologics. "To continue our growth, we needed to find capital partners with the ability to move at our pace while giving us the freedom to properly run our business. Grenville's royalty provided capital we need today at a cash cost well below equity alternatives."

Lattice Biologics represents Grenville's 19th investment since its inception in July, 2013. To date, Grenville has completed approximately $20-million in royalty financings across Canada and the United States.

Appointment of lead director

Grenville is pleased to announce the appointment of Catherine McLeod-Seltzer, an independent director of Grenville, as lead director of the company's board of directors. Ms. McLeod-Seltzer is the chairman of Bear Creek Mining Corp. and is a director of Kinross Gold Corp. and Major Drilling Group International.

Commenting on this appointment, Mr. Tharp noted: "We are grateful that Catherine has accepted this appointment as lead director of Grenville. She possesses a wealth of board experience and is well suited to take on this role with Grenville. We believe that this appointment demonstrates Grenville's ongoing commitment to maintaining the highest standards of corporate governance."

We seek Safe Harbor.