Caisse de dépôt et placement du Québec acquires debentures of Canadian Royalties Inc.

Caisse de dépôt et placement du Québec (“ Caisse “) announces that it has acquired, in a private placement, $40,000,000 aggregate principal amount of convertible debentures of Canadian Royalties Inc. (“Canadian Royalties”).

Caisse also holds 637,100 common shares of Canadian Royalties or 0.6% of such shares outstanding.

If Caisse were to exercise its conversion privilege, its participation would represents a total of 15,182,556 common shares of Canadian Royalties, or 13.3% on a partially diluted basis.

This transaction was made for investment purposes and Caisse could increase or decrease its investments in Canadian Royalties depending on market conditions or any other relevant factor.