Metalla and Coeur Close US$20.7 Million Secondary Bought Deal Offering of Common Shares of Metalla Including Full Exercise of Over-Allotment Option
Metalla and Coeur Close US$20.7 Million
Secondary Bought Deal Offering of Common
Shares of Metalla Including Full Exercise of
Over-Allotment Option
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
, Haywood Securities Inc., by email at
and
Cantor Fitzgerald Canada Corporation by email at
.
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.
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%SEDAR: 00005157E
For further information:
Metalla Royalty & Streaming Ltd., Brett Heath, President & CEO, Phone:
604-696-0741, Email: [email protected]; Kristina Pillon, Investor Relations, Phone:
604-908-
1695, Email:
[email protected]; Coeur Mining, Inc., 104 S. Michigan Avenue, Suite 900
Chicago, Illinois 60603, Attention: Paul DePartout, Director, Investor Relations, Phone: (312) 489-
5800
CO: Metalla Royalty and Streaming Ltd.
CNW 09:40e 30-JUN-20