Daily News: September 6, 2016

Royalty North Provides $5.5MM to Country Wine & Spirits

Royalty North Partners (RNP) provided a $5.5. million loan to Country Wine & Spirits (CWS), a San Diego-based retailer of wine, beer and liquor.

Under the terms of the agreement, CWS has granted RNP a royalty calculated on the gross sales of CWS. The initial royalty rate will be 5.5% of gross sales until the loan has been repaid at which point a reduced royalty rate will be payable thereafter. CWS is required to pay a minimum of $770,000 per year for the first two years.

Justin Currie, CEO at RNP, commented: “We are pleased to have successfully closed this transaction with CWS and look forward to our partnership with them going forward.”

Vancouver, BC-based Royalty North Partners focuses on creating a diversified portfolio of cash flowing royalties by providing financing to middle market companies.