VANCOUVER, BC, Oct. 29, 2020 /CNW/ - Maverix Metals Inc.
(the "Company" or "Maverix") (NYSE American: MMX) (TSX: MMX)
is pleased to announce that it has completed the acquisition of a
portfolio of 11 gold royalties (the "Royalty Portfolio") from
Newmont Corporation ("Newmont").
As consideration for the transaction, Maverix made a cash
payment of US$15 million and issued
12,000,000 common shares to Newmont. Newmont now owns a total of
42,000,000 common shares of Maverix, representing approximately 30%
of the issued and outstanding common shares of the Company.
Certain royalties in the Royalty Portfolio are subject to rights
of first refusal as well as the requirement for various transfer
consents. Any proceeds from the exercise of a right of first
refusal will be paid to Maverix.
Royalty Portfolio
Asset
|
Operator
|
Location
|
Stage
|
Royalty
|
Camino Rojo
(1)(2)
|
Orla Mining
Ltd.
|
Zacatecas,
Mexico
|
Construction
|
2.0% NSR
|
Cerro
Blanco
|
Bluestone Resources
Inc.
|
Jutiapa,
Guatemala
|
Development
|
1.0% NSR
|
Mother
Lode
|
Corvus Gold
Inc.
|
Nevada,
USA
|
Development
|
1.0% – 2.0%
NSR
|
Imperial
|
KORE Mining
Ltd.
|
California,
USA
|
Development
|
1.0% NSR
|
Ana Paula
(1)
|
Argonaut Gold
Inc.
|
Guerrero,
Mexico
|
Development
|
2.0% NSR
|
Trenton
Canyon
|
SSR Mining
Inc.
|
Nevada,
USA
|
Exploration
|
0.5% NSR
|
Buffalo
Valley
|
SSR Mining
Inc.
|
Nevada,
USA
|
Exploration
|
0.5% NSR
|
Cristina
(1)(2)
|
Criscora, S.A. de
C.V.
|
Chihuahua,
Mexico
|
Exploration
|
2.0% NSR
|
Yecora
(1)(2)
|
Criscora, S.A. de
C.V.
|
Sonora,
Mexico
|
Exploration
|
1.0% NSR
|
Algoma-Talisman
|
Red Pine Exploration
Inc.
|
Ontario,
Canada
|
Exploration
|
2.0% NSR
|
Sprogge
|
Seabridge Gold
Inc.
|
Yukon,
Canada
|
Exploration
|
0.63% NSR
|
Notes:
|
|
(1)
|
Transfer is subject
to the authorization of the Federal Economic Competition Commission
in Mexico (Comisión Federal de Competencia
Económica).
|
(2)
|
This asset is subject
to a right of first refusal.
|
About Maverix
Maverix is a gold-focused royalty and streaming company with a
globally diversified portfolio of over 100 assets. Maverix's
mission is to increase per share value by acquiring precious metals
royalties and streams. Maverix shares trade on both the NYSE
American and the TSX under the symbol "MMX".
Cautionary note regarding forward-looking statements
This release contains certain "forward looking statements" and
certain "forward-looking information" as defined under applicable
Canadian and U.S. securities laws. Forward-looking statements and
information can generally be identified by the use of
forward-looking terminology such as "may", "will", "should",
"expect", "intend", "estimate", "anticipate", "believe",
"continue", "plans" or similar terminology. The forward-looking
information contained herein is provided for the purpose of
assisting readers in understanding management's current
expectations and plans relating to the future. Readers are
cautioned that such information may not be appropriate for other
purposes. Forward-looking statements and information include, but
are not limited to, the results of a possible exercise of a right
of first refusal, the results of transfer consents, authorizations
and approvals affecting certain royalties in the Royalty Portfolio,
and the requirements for regulatory approvals and third party
consents, proposed plans for acquiring additional royalty and
stream interests and the potential of such royalty and stream
interests to provide returns. Forward-looking statements and
information are based on forecasts of future results, estimates of
amounts not yet determinable and assumptions that, while believed
by management to be reasonable, are inherently subject to
significant business, economic and competitive uncertainties and
contingencies. Forward-looking information is subject to known and
unknown risks, uncertainties and other factors that may cause the
actual actions, events or results to be materially different from
those expressed or implied by such forward-looking information,
including but not limited to: impact of general business and
economic conditions; the absence of control over mining operations
from which Maverix will purchase gold and other metals or from
which it will receive royalty payments and risks related to those
mining operations, including risks related to international
operations, government and environmental regulation, delays in mine
construction and operations, actual results of mining and current
exploration activities, conclusions of economic evaluations and
changes in project parameters as plans continue to be refined;
accidents, equipment breakdowns, title matters, labor disputes or
other unanticipated difficulties or interruptions in operations;
problems inherent to the marketability of gold and other metals;
the inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses; industry conditions,
including fluctuations in the price of the primary commodities
mined at such operations, fluctuations in foreign exchange rates
and fluctuations in interest rates; government entities
interpreting existing tax legislation or enacting new tax
legislation in a way which adversely affects Maverix; stock market
volatility; regulatory restrictions; liability, competition, the
potential impact of epidemics, pandemics and other public health
crises, including the current outbreak of the novel coronavirus
known as COVID-19 on Maverix's business, operations and financial
condition, loss of key employees, as well as those risk factors
discussed in the section entitled "Risk Factors" in Maverix's
annual information form dated March 23,
2020 available at www.sedar.com. Maverix has attempted to
identify important factors that could cause actual results to
differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers are advised not to place
undue reliance on forward-looking statements or information.
Maverix undertakes no obligation to update forward-looking
information except as required by applicable law. Such
forward-looking information represents management's best judgment
based on information currently available.
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SOURCE Maverix Metals Inc.