TSXV: MTA
NYSE AMERICAN:
MTA
Unless otherwise specified, all references to
dollars set forth herein shall mean Canadian dollars.
VANCOUVER, BC, Aug. 6, 2020 /CNW/ - Metalla Royalty &
Streaming Ltd. ("Metalla" or the "Company") (TSXV:
MTA) (NYSE American: MTA) is pleased to announce that it has
completed its previously announced conversion of $6M of principal amount outstanding under the
Company's amended and restated convertible loan facility (the
"Loan Facility") with Beedie Capital ("Beedie"). As a
result of the conversion, Beedie was issued 1,079,136 common shares
of Metalla in satisfaction of the $6M
principal amount outstanding. The Company also announces that it
has been advanced an additional $5M
under the Loan Facility, as previously disclosed by the Company in
a news release dated July 29,
2020.
ACCELERATION OF WARRANTS
The Company is also announcing today that it is electing to
accelerate the expiry of certain outstanding common share purchase
warrants of the Company exercisable at an adjusted price of
$4.68 per post-consolidated Common
Share and broker warrants exercisable at an adjusted price of
$3.12 per Common Share(collectively,
the "Warrants"). The Warrants were issued pursuant to a
brokered private placement of the Company that closed in two
tranches on December 21, 2018 and
January 4, 2019.
Pursuant to the terms of the Warrants, in the event that the
closing price of the Common Shares is greater than the adjusted
price of CAD$6.00 per Common Share
for ten (10) consecutive trading days at any time after the issue
date (the "Acceleration Trigger"), the Company may
accelerate the expiry date of the Warrants by providing written
notice, or by way of news release in lieu of written notice, to
the holders of such Warrants such that the Warrant will expire on
the 30th day following the date of notice thereof given to the
holder (the "Expiry Date"). The Company confirms that prior
to the date hereof, an Acceleration Trigger has occurred. In
accordance with the terms of the Warrants, the Company hereby
provides notice to the holders of Warrants that the Acceleration
Trigger has occurred and that the Company is exercising its right
to accelerate the expiry of the Warrants. Accordingly, the Expiry
Date is now set for 4:00 p.m. (Vancouver Time) on September 4, 2020, being the 30th day following
the date of this news release. Any Warrants remaining unexercised
after the Expiry Date will expire and be of no force and
effect.
As of July 31, 2020, 507,186
Warrants (including 19,718 broker warrants) to purchase
Common Shares have yet to be exercised. Accordingly, if all of the
outstanding Warrants are exercised, gross proceeds to the Company
will total approximately $2,342,870. The proceeds from the
exercise of the Warrants will be primarily used by the Company to
continue to execute on its growth strategy, as well as for general
corporate and working capital purposes.
Holders may exercise the Warrants before the Expiry Date by
observing the process as set out in the Warrant certificates. The
contact information for the exercise of the Warrants is
Kim Casswell the Corporate Secretary
at Metalla Royalty & Streaming Ltd, Suite 501, 543 Granville
Street, Vancouver, British
Columbia, V6C 1X8 and can be reached at
info@metallaroyalty.com.
ABOUT METALLA
Metalla was created to provide 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.
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
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 expiry and potential exercise of the Warrants; the
use of proceeds from any such exercise; future development,
production, recoveries, cash flow and other anticipated or possible
future developments at the properties on which the Company
currently holds royalty and stream interests or relating to the
companies owning or operating such properties; and the potential
for Metalla to become one of the leading gold and silver companies
for the next commodities cycle. 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 risk that the parties may be unable to
satisfy the closing conditions for the contemplated transactions or
that the transactions may not be completed; 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 pandemics,
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; and the other risks and uncertainties disclosed
under the heading "Risk Factors" in the Company's most recent
annual information form, annual report on Form 40-F and other
documents filed with or submitted to the Canadian securities
regulatory authorities on the SEDAR website at www.sedar.com and
the U.S. Securities and Exchange Commission on the EDGAR website at
www.sec.gov. 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.
SOURCE Metalla Royalty and Streaming Ltd.
