TSXV: MTA
NYSE AMERICAN: MTA
VANCOUVER, BC, Oct. 13, 2020 Metalla Royalty & Streaming
Ltd. ("Metalla" or the "Company") (TSXV: MTA) (NYSE
American: MTA) is pleased to announce that, further to its news
release dated September 16, 2020, it
has completed the previously announced acquisition of a 27.5% price
participation royalty interest (the "Royalty") on Karora
Resources Inc's ("Karora") (TSX:KRR) operating Higginsville
Gold Operations ("Higginsville") for total consideration of
USD$6,500,000 satisfied by the
issuance of 828,331 Metalla common shares ("Metalla Shares")
to Morgan Stanley Capital Group Inc. (NYSE: MS), representing
USD$6,500,000 million in value based
on the fifteen (15) trading day volume weighted average price of
the Metalla Shares on the NYSE American exchange as of market close
on October 9, 2020.
Higginsville is a low-cost open pit gold operation in
Higginsville, Western Australia,
located less than 100 km south of the Kalgoorlie Super Pit.
Higginsville has been in intermittent production since 1990,
producing more than 1M oz of gold
from the expansive 180,000 ha property package. The Royalty covers
the core part of the property with the majority of all the active
operations and near-term development projects spanning 28,300 ha.
Karora recently reissued its guidance for 2020 at Higginsville
& Beta Hunt, where it anticipates producing a consolidated 90 -
95koz of gold with a long term 50:50 mill feed ratio between the
two mines(1,2).
QUALIFIED PERSON
The technical information contained in this news release has
been reviewed and approved by Charles
Beaudry, geologist M.Sc., member of the Association of
Professional Geoscientists of Ontario and the Ordre des Géologues du Québec
and a consultant to Metalla. Mr. Beaudry is a Qualified Person as
defined in National Instrument 43-101 - Standards of Disclosure
for Mineral Projects.
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.
For further information, please visit our website at
www.metallaroyalty.com.
ON BEHALF OF METALLA ROYALTY & STREAMING LTD.
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.
Notes:
- For details on the estimation of mineral resources and
reserves, including the key assumptions, parameters and methods
used to estimate the Mineral Resources and Mineral Reserves,
Canadian investors should refer to the NI 43-101 Technical Reports
for Beta Hunt & Higginsville Gold Operations and on file at
www.sedar.com and the Karora Resources 2019 Annual Information
Form.
- See Karora Resources Press Release dated August 10, 2020
Information contained on any website or document referred to or
hyperlinked in this press release shall not be deemed to be a part
of this press release.
TECHNICAL AND THIRD-PARTY INFORMATION
Except where otherwise stated, the disclosure in this press
release relating to Higginsville is based on information publicly
disclosed by the owners or operators of this property and
information/data available in the public domain as at the date
hereof and none of this information has been independently verified
by Metalla. Specifically, as a royalty holder, Metalla has limited,
if any, access to the property subject to the Royalty. Although
Metalla does not have any knowledge that such information may not
be accurate, there can be no assurance that such third party
information is complete or accurate. Some information publicly
reported by the operator may relate to a larger property than the
area covered by Metalla's Royalty interest. Metalla's royalty
interests often cover less than 100% and sometimes only a portion
of the publicly reported mineral reserves, mineral resources and
production of a property.
The disclosure was prepared in accordance with Canadian
National Instrument 43-101 ("NI 43-101"), which differs
significantly from the current requirements of the U.S. Securities
and Exchange Commission (the "SEC") set out in Industry Guide 7.
Accordingly, such disclosure may not be comparable to similar
information made public by companies that report in accordance with
Industry Guide 7. In particular, this news release may refer to
"mineral resources", "measured mineral resources", "indicated
mineral resources" or "inferred mineral resources". While these
categories of mineralization are recognized and required by
Canadian securities laws, they are not recognized by Industry Guide
7 and are not normally permitted to be disclosed in SEC filings by
U.S. companies that are subject to Industry Guide 7. U.S. investors
are cautioned not to assume that any part of a "mineral resource",
"measured mineral resource", "indicated mineral resource", or
"inferred mineral resource" will ever be converted into a
"reserve." In addition, "reserves" reported by the Company under
Canadian standards may not qualify as reserves under Industry Guide
7. Under Industry Guide 7, mineralization may not be classified as
a "reserve" unless the mineralization can be economically and
legally extracted or produced at the time the "reserve"
determination is made. Accordingly, information contained or
referenced in this news release containing descriptions of mineral
deposits may not be comparable to similar information made public
by U.S. companies subject to the reporting and disclosure
requirements of Industry Guide 7.
"Inferred mineral resources" have a great amount of
uncertainty as to their existence and great uncertainty as to their
economic and legal feasibility. It cannot be assumed that all or
any part of an inferred mineral resource will ever be upgraded to a
higher category. Further, while NI 43-101 permits companies to
disclose economic projections contained in preliminary economic
assessments and pre-feasibility studies, which are not based on
"reserves", U.S. companies have not generally been permitted under
Industry Guide 7 to disclose economic projections for a mineral
property in their SEC filings prior to the establishment of
"reserves". Disclosure of "contained ounces" in a resource is
permitted disclosure under Canadian reporting standards; however,
Industry Guide 7 normally only permits issuers to report
mineralization that does not constitute "reserves" by Industry
Guide 7 standards as in-place tonnage and grade without reference
to unit measures. Historical results or feasibility models
presented herein are not guarantees or expectations of future
performance.
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
in this press release include, but are not limited to, Higginsville
guidance, growth opportunities and long term feed ratio, future
cash generation and the potential for Metalla to become one of the
leading precious metal royalty and streaming companies. Such
forward-looking statements reflect management's current beliefs and
are based on information currently available to management.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors, which are beyond the ability of
Metalla to control or predict and may cause the actual results,
performance or achievements of the Company to be materially
different from any future results, performance, or achievements
expressed or implied by the forward-looking statements. The
forward-looking statements contained in this press release are
based on reasonable assumptions that have been made by management
as at the date of such information and is subject to 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 statements, including, without
limitation: the impact of general business and economic conditions;
the ongoing operation of the properties in which the Company holds
a royalty, stream, or other production based interest by the owners
or operators of such properties in a manner consistent with past
practice; absence of control over mining operations; the accuracy
of public statements and disclosures made by the owners or
operators of such underlying properties; no material adverse change
in the market price of the commodities that underlie the asset
portfolio; regulatory requirements; and 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.
Although Metalla has attempted to identify important factors
that could cause actual actions, events or results to differ
materially from those contained in forward-looking information,
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 such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Investors are cautioned that
forward-looking statements are not guarantees of future
performance. The Company cannot assure investors that actual
results will be consistent with these forward-looking statements.
Accordingly, investors should not place undue reliance on
forward-looking statements or information.
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.
