Mr. William Tharp reports

GRENVILLE COMPLETES FOLLOW-ON INVESTMENT IN WATCH IT! INCORPORATED

Grenville Strategic Royalty Corp. has advanced an additional $1-million to Watch It! Inc. This investment represents Grenville's first follow-on investment in Watch It! and brings Grenville's total investment in Watch It! to $2-million. In exchange for this advance, Grenville will receive a royalty based on Watch It!'s gross revenue within Grenville's average royalty rate of between 1 per cent and 4 per cent.

Watch It! is a leading Canadian specialty retailer and franchisor that offers mid-priced, brand name watches, sunglasses and accessories, as well as watch repair services. Watch It! was founded in 1999 as a privately held, Alberta-based company that has grown to a mix of over 30 corporate and franchise boutique stores across Canada. Since its establishment, Watch It! has proven itself to be an innovative leader in its industry by offering a wide selection of high-quality and affordable watches and sunglasses with a focus on exemplary customer service.

"Our initial investment into Watch It! allowed Darren and the management team to restructure their balance sheet and to better orient it for growth," noted William (Bill) R. Tharp, president and chief executive officer of Grenville. "With this follow-on investment, Watch It! plans to capitalize on an already strong 2015 in terms of revenue and same-store sales growth and continue to expand its brand as a leading mid-priced watches, sunglasses and peripheral services retailer."

"The investments from Grenville are strategic and will allow Watch It! to continue to execute on its business plan with financial strength," stated Darren Bondar, president and chief executive officer of Watch It!. "Grenville has proven to be an excellent financial partner for us. The entire team was efficient, transparent and delivered on the agreements as promised."

To date, Grenville has completed approximately $35.23-million in royalty financings, building a diversified portfolio in Canada and the United States.

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