PrairieSky Royalty Ltd.

Entered into a bought deal equity financing whereby a syndicate of underwriters led by TD Securities Inc. and RBC Capital Markets as joint book-runners and co-led by CIBC Capital Markets and BMO Capital Markets have agreed to purchase about 14.9 million common shares of the company at $13.40 per share. Underwriters were granted a 30-day option to purchase up to an additional 15% of the of the common shares issued pursuant to the financing to cover over-allotments, if any. Proceeds will be used to fund a portion of the purchase price of Western Canadian royalty assets from Heritage Royalty.