VANCOUVER, BC, June 30, 2020 /CNW/ - Metalla Royalty &
Streaming Ltd. (TSXV: MTA) (NYSE American: MTA) (the
"Company" or "Metalla") and Coeur Mining, Inc. (NYSE:
CDE) ("Coeur") announced that further to their press
releases dated June 22, 2020 and
June 23, 2020, they have closed the
public offering of 3,910,000 common shares of Metalla (the
"Common Shares") currently held by Coeur at a price of
US$5.30 per Common Share for gross
proceeds to Coeur of US$20,723,000 (the "Secondary Offering"),
including 510,000 Common Shares as a result of the full exercise of
the over-allotment option. PI Financial Corp., Haywood Securities
Inc. and Cantor Fitzgerald Canada Corporation acted as co-lead
underwriters for the Secondary Offering for a syndicate of
underwriters including BMO Nesbitt Burns Inc. and Cormark
Securities Inc. pursuant to an underwriting agreement with Metalla
and Coeur dated June 23, 2020.
The net proceeds of the Secondary Offering were paid directly to
Coeur, and Metalla did not receive any proceeds from the Secondary
Offering.
Prior to the completion of the Secondary Offering, Coeur owned
5,241,310 common shares of Metalla, representing approximately
14.9% of the issued and outstanding common shares of Metalla.
Following completion of the Secondary Offering and the repurchase
by Coeur from Metalla of a 0.3875% royalty interest in Coeur's
Wharf mine in exchange for 421,554 common shares of Metalla, which
was previously disclosed in Metalla's June
22, 2020 news release, Coeur owns 909,756 common shares of
Metalla, representing approximately 2.53% of the total issued and
outstanding common shares of Metalla.
The Secondary Offering was made in each of the provinces of
Canada (excluding Quebec) and in the
United States by way of (i) a prospectus supplement (the
"U.S. Prospectus Supplement") to the Company's existing U.S.
registration statement on Form F–10 dated May 1, 2020 (the "Registration
Statement"); and (ii) a prospectus supplement (the "Canadian
Prospectus Supplement") to the Company's Canadian short form
base shelf prospectus dated May 1,
2020 (the "Base Shelf Prospectus"). The Canadian
Prospectus Supplement was filed with the securities commissions in
each of the provinces of Canada
and the U.S. Prospectus Supplement was filed with the United States
Securities and Exchange Commission (the "SEC").
The U.S. Prospectus Supplement (together with the related
Registration Statement) is available on the SEC's website at
www.sec.gov and the Canadian Prospectus Supplement (together with
the related Base Shelf Prospectus) is available on the SEDAR
website maintained by the Canadian Securities Administrators at
www.sedar.com. Alternatively, copies of the U.S. Prospectus
Supplement and Canadian Prospectus Supplement may be obtained from
PI Financial Corp., by email at syndication@pifinancial.com,
Haywood Securities Inc., by email at ecm@haywood.com and Cantor
Fitzgerald Canada Corporation by email at ecmcanada@cantor.com.
A copy of a report filed by Coeur pursuant to the early
warning requirements of National Instrument 62-103 will appear
under Metalla's profile on the SEDAR website at
www.sedar.com.
This news release shall not constitute an offer to sell or
the solicitation of an offer to buy, nor shall there be any sale of
the Common Shares in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of that
jurisdiction.
ABOUT METALLA
Metalla was created for the purpose of providing shareholders
with leveraged precious metal exposure by acquiring royalties and
streams. Our goal is to increase share value by accumulating a
diversified portfolio of royalties and streams with attractive
returns. 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.
ABOUT COEUR
Coeur Mining, Inc. is a U.S.-based, well-diversified, growing
precious metals producer with five wholly-owned operations: the
Palmarejo gold-silver complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, and the Silvertip
silver-zinc-lead mine in British
Columbia. In addition, the Company has interests in several
precious metals exploration projects throughout North America.
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 news release contains "forward-looking information" and
"forward-looking statements" (the "forward-looking statements"),
within the meaning of applicable Canadian and United States securities legislation,
including statements with respect to Metalla's plan to accumulate a
diversified portfolio with attractive returns, future cash
generation by Metalla's assets and the potential for Metalla to
become one of the leading gold and silver companies for the next
commodities cycle. Forward-looking statements are statements that
are not historical facts and are generally, although not always,
identified by words such as "expect", "plan", "anticipate",
"project", "target", "potential", "schedule", "forecast", "budget",
"estimate", "intend" or "believe" and similar expressions or their
negative connotations, or that events or conditions "will",
"would", "may", "could", "should" or "might" occur. All such
forward-looking statements are based on the opinions and estimates
of management as of the date such statements are made. These
forward-looking statements are made as of the date of this news
release. Readers are cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
future circumstances, outcomes or results anticipated in or implied
by such forward-looking statements will occur or that plans,
intentions or expectations upon which the forward-looking
statements are based will occur. While we have based these
forward-looking statements on our expectations about future events
as at the date that such statements were prepared, the statements
are not a guarantee that such future events will occur and are
subject to risks, uncertainties, assumptions and other factors
which could cause events or outcomes to differ materially from
those expressed or implied by such forward-looking statements.
Known risk factors include risks associated with the impact of
general business and economic conditions; the absence of control
over mining operations from which Metalla will purchase precious
metals or from which it will receive stream or 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
are refined; problems related to the ability to market precious
metals or other metals; industry conditions, including commodity
price fluctuations, interest and exchange rate fluctuations;
interpretation by government entities of tax laws or the
implementation of new tax laws; regulatory, political or economic
developments in any of the countries where properties in which
Metalla holds a royalty, stream or other interest are located or
through which they are held; risks related to the operators of the
properties in which Metalla holds a royalty or stream or other
interest, including changes in the ownership and control of such
operators; risks related to global epidemics, pandemics, or other
public health crises, including the novel coronavirus (COVID-19)
global health pandemic, and the spread of other viruses or
pathogens; influence of macroeconomic developments; business
opportunities that become available to, or are pursued by Metalla;
reduced access to debt and equity capital; litigation; title,
permit or license disputes related to interests on any of the
properties in which Metalla holds a royalty, stream or other
interest; the volatility of the stock market; competition; future
sales or issuances of debt or equity securities; use of proceeds;
dividend policy and future payment of dividends; liquidity; market
for securities; enforcement of civil judgments; and risks relating
to Metalla potentially being a passive foreign investment company
within the meaning of U.S. federal tax laws, as well as those
factors discussed in the section entitled "Risk Factors" in
Metalla's Base Shelf Prospectus dated May 1,
2020 and filed with the Canadian Securities Administrators
and related Registration Statement filed with the SEC, and the
Canadian Prospectus Supplement and U.S. Prospectus Supplement,
which may be viewed at www.sedar.com and www.sec.gov, respectively.
Although we have attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements. We are under no
obligation to update or alter any forward-looking statements except
as required under applicable securities laws.
SOURCE Metalla Royalty and Streaming Ltd.
