Baetis Ventures Ltd. and RE Royalties Ltd. ("RER") announced the entering into of a binding letter agreement dated March 27, 2018 pursuant to which Baetis will acquire all of the issued and outstanding shares in the capital of RER pursuant to a reverse-takeover transaction. The Transaction is expected to be completed by way of a share exchange or other form of business combination determined by the legal and tax advisors to each of Baetis and RER, acting reasonably, which will result in RER becoming a wholly-owned subsidiary of Baetis or otherwise combining its corporate existence with that of a Baetis entity (the "Resulting Issuer"). Upon completion of the Transaction, the board of Resulting Issuer will be increased to seven members, six of whom will be nominated by RER, and one of whom will be nominated by Baetis. The directors and officers of the Resulting Issuer will be: Bernard Tan - CEO and Director: Mr. Tan is the founder of RER and former Chief Financial Officer of Hunter Dickinson Inc. (HDI), where he managed diverse teams in the strategic development and execution of new opportunities for HDI, and provided financial oversight and governance on HDI's portfolio of companies. He has over 15 years of experience in corporate finance in resource and technology and is a Recipient of Young Mining Leader award from Canadian Institute of Mining, Metallurgy & Petroleum. Peter Leighton – COO: Mr. Leighton is a co-founder of RER. Mr. Leighton is an experienced renewable energy executive with 20+ years of experience in mergers & acquisitions and project development in the energy sector. He is the former President and Chief Operating Officer of Finavera, where he delivered $750 million worth of wind energy projects from the embryonic stages of development through to commercial operation. Marchand Snyman - Chairman and Director: Mr. Snyman is a co-founder of RER. Mr. Snyman has over 20 years of senior executive experience in global corporate finance, M&A, financing and divestiture activities. He also currently serves as a director and officer on a number of publicly traded companies. Mr. Snyman is currently a Director and the Chief Operating Officer of Hunter Dickinson Inc. Stephen Cheeseman - Independent Director: Mr. Cheeseman is the President of Chinook Power, where he identified and developed the 142MW Quality Wind Project. He is a current director of Clean Energy B.C. Mr. Cheeseman is the winner of the Canada Clean16 award for his dedication and contribution to sustainability and clean capitalism. Rene Carrier - Independent Director: Mr. Carrier is the President of Euro-American Capital Corporation. Mr. Carrier currently serves as an independent director on various publicly traded companies and was a founding director of International Royalty Corp. ("IRC") from 2003 until sale of IRC for $700 million in 2010. Gord Fretwell - Independent Director: Mr. Fretwell is a former partner at a large Vancouver law firm. Mr. Fretwell is currently a partner for a boutique law firm in Vancouver practicing primarily in the areas of corporate and securities law. Mr. Fretwell was also a founding director of International Royalty Corp. ("IRC") from 2003 until sale of IRC for $700 million in 2010. Jill Leversage - Independent Director: Ms. Leversage is a senior investment banker with over 30 years of executive experience in investment banking and private equity. Ms. Leversage was the former Managing Director, Corporate & Investment Banking for TD Securities. She currently serves as a director on various public and private company boards. Paul Larkin - Independent Director: Mr. Larkin is the President of the New Dawn Group, an investment and financial consulting firm primarily involved in corporate finance, merchant banking and administrative management of public companies. Mr. Larkin currently serves as a director on various publicly traded companies and he is a founding director, chairman of the audit and special purpose committees of US Geothermal Inc.