Baetis Ventures Ltd. and RE Royalties Ltd. (RER) announce that the Exchange has granted conditional approval to the reverse-takeover transaction. The Transaction will be effected by way of a plan of arrangement, whereby Baetis will acquire from the shareholders of RER, 100% of the issued and outstanding common shares of RER and RER will become a wholly owned subsidiary of Baetis. 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 as CEO and Director; Peter Leighton as COO; Marchand Snyman as Chairman and Director; Stephen Cheeseman as Independent Director; Rene Carrier as Independent Director; Gord Fretwell as Independent Director; Jill Leversage as Independent Director; Paul Larkin as Independent Director.