Grenville Completes Follow-On Investment in PFO Global Group


TORONTO— Grenville Strategic Royalty Corp. (TSX VENTURE:GRC), based here, has advanced an additional $500,000 to Pro Fit Optix Holding Company, doing business as PFO Global Group. In exchange, Grenville will receive a royalty based on PFO's gross revenues within Grenville's targeted 1 percent to 4 percent royalty range, subject to certain adjustments.

This advance represents Grenville's 14(th) investment, with approximately $10.58 million in royalty-based financings across Canada and the U.S.

"PFO's collaboration with Grenville has been excellent since first partnering with the company in February of this year,” said Ruedi Suter, PFO's president and chief executive officer. He added that the partnership has allowed PFO to increase its working capital, drive sales in managed vision care and continue the production of its advanced technology products.

PFO, based in Irving, Texas, produces and distributes eyewear through proprietary manufacturing, ordering and delivery systems that reduce cost to eyewear providers and offer a broad range of choice to participants in U.S. Medicaid and Medicare programs.