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CALGARY, AB – October 31, 2022 – Source Rock Royalties Ltd. (“Source Rock”) (TSXV: SRR – SRR.WT), a pure-play oil and gas royalty company with an established portfolio of light oil focused royalties in Saskatchewan and Alberta, announces that its President & CEO has elected to receive a grant of deferred share units (each, a “DSU”) in lieu of his cash salary for the fourth quarter of 2022. Effective October 31, 2022, 80,000 DSUs will be granted to Source Rock’s President & CEO pursuant to Source Rock’s Restricted Share Unit and Deferred Share Unit Compensation Plan. The DSUs will vest on October 31, 2023.
Each DSU represents the right to receive one common share of Source Rock, or the cash equivalent thereof, upon the holder of such DSU ceasing to be an officer, director, employee or consultant of Source Rock.
About Source Rock Royalties Ltd.
Source Rock is a pure-play oil and gas royalty company with an existing, light oil focused portfolio of royalty interests concentrated in southeast Saskatchewan, east-central Alberta, west-central Alberta and west-central Saskatchewan. Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock’s strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.