SIR Royalty Income Fund Announces Resignation of Ken Fowler as Trustee

BURLINGTON, ON, Jan. 23, 2014 /CNW/ - SIR Royalty Income Fund (TSX: SRV.UN) ("the Fund") today announced that Ken Fowler has resigned as a Trustee of the Fund and as a Director of SIR GP Inc., an affiliated entity. Mr. Fowler was a Trustee of the SIR Royalty Income Fund since its inception in 2004.

"We thank Ken for his years of service and valued contributions as a Trustee of the SIR Royalty Income Fund," said John McLaughlin, Chairman of the Fund's Board of Trustees.

About SIR Corp.
SIR is a privately held Canadian corporation that owns and operates a portfolio of 56 restaurants in Canada. SIR's Concept brands include: Jack Astor's Bar and Grill®, with 37 locations; Alice Fazooli's® together with Scaddabush™, for a total of four locations; and Canyon Creek Chop House®, with eight locations. SIR also operates one-of-a-kind "Signature" brands in downtown Toronto, which comprise the upscale Reds® Wine Tavern, Reds® Midtown Tavern, Far Niente®/FOUR®/Petit Four®, The Loose Moose® and Duke's Refresher™ & Bar. All trademarks related to the Concept and Signature brands noted above are used by SIR under a License and Royalty Agreement with SIR Royalty Limited Partnership in consideration for a Royalty, payable by SIR to the Partnership, equal to six percent of the revenue of the 49 restaurants currently included in the Royalty pool. SIR also owns and operates two seasonal Signature restaurants: Abbey's Bake House® and Duke's Refresher™, which are not currently part of the Royalty pool. For more information on SIR Corp. or the SIR Royalty Income Fund, please visit www.sircorp.com.

About SIR Royalty Income Fund
The Fund is a trust governed by the laws of the province of Ontario that receives distribution income from its investment in the SIR Royalty Limited Partnership and interest income from the SIR Loan. The Fund intends to pay distributions to unitholders on a monthly basis.

SOURCE: SIR Royalty Income Fund

Peter Fowler, CEO
SIR Corp. 
Tel: [phone]

Bruce Wigle
BMIR, Investor Relations
Tel: [phone], ext 232