Metalla Reports Financial Results FOR the First Quarter of Fiscal 2018
(1) Please refer to “Non-IFRS Financial Measures” at the end of this release
METALLA REPORTS FINANCIAL RESULTS
FOR THE FIRST QUARTER OF FISCAL 2018
(All amounts expressed in Canadian dollars, unless otherwise stated)
FOR IMMEDIATE RELEASE CSE: MTA
OTCQX: MTAFF
October 26, 2017
Frankfurt: X9CP
Vancouver, Canada: Metalla Royalty & Streaming Ltd. (“Metalla” or the “ Company”) (CSE: MTA)
(OTCQX: MTAFF) (FRANKFURT: X9CP) announced its financial results for the first quarter of 2018. For
complete details of the financial statements and accompanying management's discussion and analysis for
the three months ended August 31, 2017, please see the Company's filings on SEDAR or the Company's
website (www.metallaroyalty.com).
Brett Heath, Metalla’s President & CEO commented, “ In the first quarter of fiscal 2018 , our revenue and
cash flow grew significantly compared to previous quarters. That growth reflects the acquisition of the
royalty and streaming portfolio from Coeur Mining, Inc.” Mr. Heath continued, “I am very pleased with our
initial results. As the Endeavor Mine ramps up, it will further increase our capacity to generate additional
cash flow. We continue to seek accretive acquisitions to build the company’s value on a per share basis.”
First Quarter Financial Highlights
During the three months ended August 31, 2017, the Company:
• completed the acquisition of net smelter return (“ NSR”) royalties on the Hoyle Pond extension
properties and Montclerg property from Matamec Exploration Inc. for the aggregate considerations of
$1.5 million;
• completed the acquisition of three additional NSR royalties (Joaquin project, Zaruma gold mine, a nd
Puchuldiza project) and one silver stream (Endeavor silver stream) interests from Coeur Mining , Inc.
for aggregate consideration of US$13,000,000;
• acquired a trade receivable related to 41,814 attributable silver ounces (“oz”) shipped and provisionally
invoiced, at an average price of US$16.46 per oz., by the former Endeavor silver stream holder during
June and July 2017(1);
• shipped and provisionally invoiced 36,054 attributable silver oz. at an average price of US$17.16 per
oz. for US$618,708 during August 2017(1);
• generated cash margin of US$10.28 per attributable silver oz. from the Endeavor silver stream and
New Luika Gold Mine stream held by Silverback Ltd.(1);
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(1) Please refer to “Non-IFRS Financial Measures” at the end of this release.
• recorded revenue of $0.8 million (Q1-2017 - $Nil), net loss of $1.0 million (Q1-2017 - $0.5 million),
and positive cash flow from operating activities of $1.1 million (Q1-2017 - negative $0.05 million);
• held trade receivables of $805,438 and 37,799 attributable silver oz. as inventory on the reporting date
and to be realized in the subsequent quarter.
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 of the
Ordre des Géologues du Qué bec and a director of Metalla. Mr. Beaudry is a QP as defined in “National
Instrument 43-101 Standards of disclosure for mineral projects”.
About Metalla
Metalla is a precious metals royalty and streaming company. Metalla provides shareholders with leveraged
precious metal exposure through a diversified 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
Contact Information
Metalla Royalty & Streaming Ltd.
Brett Heath, President & CEO
Phone: 604-696-0741
Email: [email protected]
Website: www.metallaroyalty.com
Investor Relations
Renmark Financial Communications Inc.
Barry Mire: [email protected]
Tel: (416) 644-2020 or (514) 939-3989
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the CSE)
accepts responsibility for the adequacy or accuracy of this release.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities being
offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the ‘‘U.S. Securities
Act’’), or any st ate securities laws, and may not be offered or sold in the United States, or to, or for the account or benefit of, a
"U.S. person" (as defined in Regulation S of the U.S. Securities Act) unless pursuant to an exemption therefrom. This press release
is for information purposes only and does not constitute an offer to sell or a solicitation of an offer to buy any securities of the
Company in any jurisdiction.
Cautionary Note Regarding Forward-Looking Statements
This press release contains “forward -looking inf ormation” 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 “bel ieves” or
variations (including negative variations) of such words and phrases or may be identified by statements to the effect that ce rtain
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(1) Please refer to “Non-IFRS Financial Measures” at the end of this release.
actions “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking information in this press
release includes, but is not limited to, statements with respect to future events or future performance of Metalla, disclosure
regarding the precious metal purchase agreements and royalty payments to be paid to Metalla by property owner s or operators
of mining projects pursuant to net smelter returns and other royalty agreements of Metalla, continued ramp-up at the Endeavor
Mine, management’s expectations regarding Metalla’s growth, results of operations, estimated future revenues, carrying value of
assets, future dividends, and requirements for additional capital, production estimates, production costs and revenue, future
demand for and prices of commodities, expected mining sequences, business prospects and opportunities. 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 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 t hose
expressed or im plied by such forward -looking information, 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 productio n-
base 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 adver se change in the market price of the commodities that underlie the asset portfolio; and other risks
and uncertainties disclosed under the heading “Risk Factors” in the Management's Discussion and Analysis of the Company dated
September 28, 2017 filed with the Canadian securities regulatory authorities on the SEDAR website at www.sedar.com.
Although Metalla has attempted to identify important factors that could cause actual actions, events or results to differ mat erially
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 resu lts
and future events could differ ma terially 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.
Non-IFRS Financial Measures
The items marked with a " (1)" are alternative performance measur es and readers should refer to n on-international financial
reporting standards (“IFRS”) financial measures in the Company's Management's Discussion and Analysis for the three months
ended August 31, 2017 as filed on SEDAR and as available on the Company's website for further details. Metalla has included
certain performance measures in this press release t hat do not have any standardized meaning prescribed by IFRS including
average cash cost per ounce of attributable silver, average realized price per ounce of attributable silver, and cash margin. Average
cost per ounce of attributable silver is calculated by dividing the cash cost of sales, plus applicable selling charges , by the
attributable ounces sold. In the precious metals mining industry, this is a common performance measure but does not have any
standardized meaning. The Company believes that, in addition to conventional measures prepared in accordance with IFRS,
certain investors use this information to evaluate the Company's performance and ability to generate cash flow. Cash margin i s
calculated by subtracting the average cash cost per ounce of attributable silver from the average realized price per ounce of
attributable silver. The Company presents cash margin as it believes that certain investors use this information to evaluate the
Company's performance in comparison to other companies in the precious metals mining industry who present results on a similar
basis. The presentation of these non-IFRS measures is intended to provide additional information and should not be considered
in isolation or as a substitute for measures of performance prepared in accordance with IFRS. Other companies may calculate
these non-IFRS measures differently.