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CALGARY,
AB, Feb. 21, 2024 /CNW/ - Source Rock
Royalties Ltd. ("Source Rock") (TSXV: SRR) (TSXV: SRR.WT), a
pure-play oil and gas royalty company with an established portfolio
of oil royalties, announces that it has been recognized by the TSX
Venture Exchange (the "TSXV") as a 2024 Top 50 company. The TSX
Venture 50 showcases the strongest performance on the TSXV over the
last year. Comprised of 10 companies from five industry sectors,
the ranking is based on market capitalization growth, share price
appreciation and trading volume. More details can be found at:
www.tsx.com/Venture50.
"We are proud to be named as a top performing
TSXV company in the energy sector. Our balanced growth and yield
business model allowed us to materially expand and diversify our
portfolio of royalty production and lands, while also paying a
strong dividend to shareholders, which was increased by 20% in
2023", stated Brad Docherty,
President & CEO.
About Source Rock Royalties
Ltd.
Source Rock is a pure-play oil and gas royalty
company with an existing portfolio of oil royalty interests
concentrated in southeast Saskatchewan, 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.
Forward-Looking
Statements
This news release includes forward-looking
statements and forward-looking information within the meaning of
Canadian securities laws. Often, but not always, forward-looking
information can be identified by the use of words such as "plans",
"is expected", "expects", "scheduled", "intends", "contemplates",
"anticipates", "believes", "proposes" or variations (including
negative and grammatical variations) of such words and phrases, or
state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements in this news release include statements
regarding Source Rock's dividend strategy and the amount and timing
of future dividends (and the sustainability thereof), the potential
for future drilling on Source Rock's royalty lands, expectations
regarding commodity prices, Source Rock's growth strategy and
expectations with respect to future royalty acquisition and
partnership opportunities, the ability to complete such
acquisitions and establish such partnerships, and the estimated
costs for Source Rock to run its business. Such statements and
information are based on the current expectations of Source Rock's
management and are based on assumptions and subject to risks and
uncertainties. Although Source Rock's management believes that the
assumptions underlying these statements and information are
reasonable, they may prove to be incorrect. The forward-looking
events and circumstances discussed in this news release may not
occur by certain dates or at all and could differ materially as a
result of known and unknown risk factors and uncertainties
affecting Source Rock. Although Source Rock has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements and information, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. No forward-looking statement or
information can be guaranteed. Except as required by applicable
securities laws, forward-looking statements and information speak
only as of the date on which they are made and Source Rock
undertakes no obligation to publicly update or revise any
forward-looking statement or information, whether as a result of
new information, future events or otherwise.
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.
SOURCE Source Rock Royalties Ltd.