NYSE AMERICAN: MTA
TSX-V: MTA
All Currency is in United States (US$) dollars unless otherwise
noted
VANCOUVER, BC, March 17, 2021 /CNW/ - Metalla Royalty &
Streaming Ltd. ("Metalla" or the "Company") (NYSE:
MTA) (TSXV: MTA) is pleased to announce that, further to its news
release dated March 15, 2021, it has
closed the acquisition from Sailfish Royalty Corp.
("Sailfish") (TSXV: FISH) of an existing 0.75% gross value
royalty interest on gold produced and sold from Eldorado Gold's
(NYSE: EGO) (TSX: ELD) Tocantinzinho Project located in northern
Brazil
("Tocantinzinho").
FINANCIAL UPDATE
The Company is also pleased to announce that Beedie Capital
("Beedie") has elected to convert the outstanding
C$5 million advance (the
"Conversion") under the previously announced amended and
restated convertible loan facility (the "Convertible Loan
Facility") into common shares of Metalla ("Common
Shares") for a total of 505,050 Common Shares (at a
conversion price of C$9.90 per Common
Share which conversion price represented a 27% premium to the
30-day volume-weighted average price ("VWAP") of the Common
Shares at the time of the advance from Beedie). In conjunction with
the Conversion, the Company has drawn down an additional
C$5 million (the "Drawdown
Amount") under the Convertible Loan Facility and such amount
will be convertible by Beedie at a conversion price of C$14.30 which is based on a 20% premium above the
30-day VWAP of the Common Shares on the TSX Venture Exchange
calculated as of March 16, 2021, in
accordance with the terms of the Convertible Loan Facility.
The Company is also pleased to provide an update on its
at-the-market equity program (the "ATM Program") announced
on September 4, 2020. As of the date
of this news release, Metalla has sold 1,301,593 Common Shares
under the ATM Program for gross proceeds of $12.8 million. As a result of these proceeds, the
Company was fully funded to close the royalty acquisition on
Tocantinzinho and is fully funded to close the royalty acquisition
on OZ Mineral's CentroGold project ("CentroGold") (see news
release dated March 16, 2021).
Brett Heath, President and CEO,
commented, "We are pleased to see the continued support of Beedie
Capital as we grow our business by adding more accretive royalties
to Metalla's portfolio. The additional drawdown of C$5 million from the Beedie Convertible Loan
Facility along with gross proceeds from the ATM Program of
$12.8 million, has allowed the
Company to fully finance the recent royalty acquisitions with a
cash reserve to continue what we expect to be another significant
year of growth for the Company."
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.
(signed) "Brett Heath"
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 anticipated
or possible future developments at Tocantinzinho and
the properties on which the Company currently holds royalty and
stream interests or relating to the companies owning
or operating such properties; the future value of
the Company's stock on the stock exchanges; the
payment of the remaining $3 million
of the Purchase Price within 60 days of closing; the future
conversion of the Drawdown Amount in accordance with the
Convertible Loan Agreement; the Company being positioned to fully
finance the royalty acquisition on CentroGold; the sufficiency of
the Company's future cash reserves; and the Company's
potential to become a leading gold and silver company.
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
development, 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.
