ReVolve Renewable Power Corp. announced that the Project will be financed through a combination of cash on hand and a CAD 415,000 new secured loan (the Secured Loan) to be provided by RE Royalties Ltd. The financing agreements will consist of a Secured Loan agreement and a royalty agreement between Revolve and RER. Finalization of the financing agreements is expected to be completed in the next few weeks.

The Secured Loan will be drawn down per a schedule commencing upon signing of the definitive financing agreements and will have a term of 24 months. It will be repayable at maturity, bear interest at 12% on drawn funds, with interest payable on a quarterly basis during the term. The Company will pay RE Royalties a financing fee of 1% of the Secured Loan amount on signing.

The Secured Loan will be secured by certain assets of the Company. The Company will also enter into a royalty agreement with RER under which RER will receive a royalty of 5% on gross revenues generated by the Project for the term of the PPA.