Royalties inc. announces completion of $550,000 financing and acquisition of apple alert tones sound recording royalties

Toronto, ontario--(newsfile corp. - april 20, 2023) - royalties inc. (cse: ri) ("the company") announces the completion of a non-brokered private placement offering announced on april 12, 2023 of royalties inc. at a price of 5 cents per share for 11,000,000 shares for proceeds of $550,000 from a director and music royalties inc. the funds were previously advanced as part of the cse listing application for working capital and for an acquisition in january 2023 of a cash flowing royalty in the amount of c$184,704 (us$137,900) which generated c$28,560 (us$21,323) in the prior year, paid monthly. the acquisition is for 415 tracks, for a term of "author life of rights (70+ years)".
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