TSXV: MTA
OTCQX: MTAFF
Frankfurt: X9CP
(All amounts expressed in Canadian dollars unless
otherwise noted.)
VANCOUVER, April 1, 2019 /CNW/ - Metalla Royalty &
Streaming Ltd. ("Metalla" or the "Company")
(TSXV: MTA) (OTCQX: MTAFF) (FRANKFURT: X9CP) is pleased to announce
a convertible loan facility (the "Loan Facility") of
$12.0 million (the "Loan")
with Beedie Capital ("Beedie") to fund acquisitions of new
royalties and streams. The Loan will be funded by way of an initial
advance of $7.0 million within 90
days from closing, and the remaining $5.0
million will be available for subsequent advances in minimum
tranches of $1.25 million.
Brett Heath, President, and CEO
of Metalla commented: "We are pleased to welcome Beedie as a
partner and strategic investor in Metalla. Beedie has proven to be
an exceptional capital partner for growing businesses. We look
forward to having the financial support and backing of Beedie
through our next stage of growth as we continue to add more
accretive royalties to our portfolio."
"We are very excited to partner with the Metalla team at their
inflection point of becoming a premier precious metals royalty
company," said David Bell, Director
at Beedie Capital. "We are impressed by Metalla's ability to
repeatedly identify and acquire highly accretive royalty assets and
look forward to supporting them in their next phase of value
creation for all of the Company's stakeholders."
The Loan Facility carries an interest rate of 8.0% on advanced
funds and 2.5% on standby funds available, with the principal
payment due 48 months after the date the financing is completed
(the "Closing Date"). The Loan can be repaid with no penalty
after 18 months and carries no warrant coverage. The principal
amount of the Loan will be convertible into common shares of the
Company ("Metalla Shares") at a conversion price of
$1.39, representing a 25% premium to
the 30-day volume weighted average price as of March 15, 2019. The Loan Facility will be
convertible at any time, at the option of Beedie and will be
secured by certain assets of the Company. Metalla Shares acquired
on conversion will be subject to a four-month plus one day hold
period from the date of advance. Completion of the Loan is subject
to acceptance of the Exchange and closing documentation.
ADVISORS AND COUNSEL
PI Financial Corp acted as financial advisor and Gowling WLG
(Canada) acted as legal counsel
for Metalla. McCarthy Tetrault served as legal counsel for
Beedie.
ABOUT BEEDIE CAPITAL
Beedie Capital is the family office investment arm of Beedie
Group, the largest private industrial owner, developer and property
manager in Western Canada. Beedie Capital partners with
ambitious operators of high-growth public and private companies
across a variety of industry sectors in North America. Please visit
www.beedie.ca/capital for more information.
ABOUT METALLA
Metalla is a precious metals royalty and streaming company.
Metalla provides shareholders with leveraged precious metal
exposure through a diversified and growing portfolio of royalties
and streams. Our strong foundation of current and future
cash-generating asset base, combined with an experienced team gives
Metalla a path to become one of the leading gold and silver
companies for the next commodities cycle.
For further information, please visit our website at
www.metallaroyalty.com
ON BEHALF OF METALLA ROYALTY & STREAMING LTD.
(signed) "Brett Heath"
President and CEO
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the Exchange) accept
responsibility for the adequacy or accuracy of this
release.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
Canadian and U.S. securities legislation. The forward-looking
statements herein are made as of the date of this press release
only, and the Company does not assume any obligation to update or
revise them to reflect new information, estimates or opinions,
future events or results or otherwise, except as required by
applicable law.
Often, but not always, forward-looking statements can be
identified by the use of words such as "plans", "expects", "is
expected", "budgets", "scheduled", "estimates", "forecasts",
"predicts", "projects", "intends", "targets", "aims", "anticipates"
or "believes" or variations (including negative variations) of such
words and phrases or may be identified by statements to the effect
that certain actions "may", "could", "should", "would", "might" or
"will" be taken, occur or be achieved. Forward-looking statements
and information include, but are not limited to, statements with
respect to the proposed use of proceeds from the Loan, the
activities contemplated in this news release and the timing and
receipt of requisite regulatory, and shareholder approvals in
respect thereof and proposed future transactions Metalla may
undertake and their expected timing. 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 statements and information are subject to various
known and unknown risks and uncertainties, many of which are beyond
the ability of Metalla to control or predict, that may cause
Metalla's actual results, performance or achievements to be
materially different from those expressed or implied thereby, and
are developed based on assumptions about such risks, uncertainties
and other factors set out herein, including but not limited to: the
requirement for regulatory approvals and third party consents, the
impact of general business and economic conditions, the absence of
control over the mining operations from which Metalla will purchase
gold and receive royalties, including risks related to
international operations, government relations and environmental
regulation, the inherent risks involved in the exploration and
development of mineral properties; the uncertainties involved in
interpreting exploration data; the potential for delays in
exploration or development activities; the geology, grade and
continuity of mineral deposits; the possibility that future
exploration, development or mining results will not be consistent
with Metalla's expectations; accidents, equipment breakdowns, title
matters, labor disputes or other unanticipated difficulties or
interruptions in operations; fluctuating metal prices;
unanticipated costs and expenses; uncertainties relating to the
availability and costs of financing needed in the future; the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses, commodity price
fluctuations; currency fluctuations; regulatory restrictions,
including environmental regulatory restrictions; liability,
competition, loss of key employees and other related risks and
uncertainties. Metalla 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. No
forward-looking statement can be guaranteed, and actual future
results may vary materially. Accordingly, readers are advised not
to place undue reliance on forward-looking statements or
information. Some of the disclosure in this press release is based
on information publicly disclosed by the owners or operators of
these properties and information/data available in the public
domain as at the date hereof, and none of this information has been
independently verified by Metalla.
Readers are cautioned that forward-looking statements are not
guarantees of future performance. All of the forward-looking
statements made in this press release are qualified by these
cautionary statements.
SOURCE Metalla Royalty and Streaming Ltd.
