Metalla Announces Application to List on the NYSE American Stock Exchange and Share Consolidation
Metalla Announces Application to List on the
NYSE American Stock Exchange and Share
Consolidation
TSXV: MTA
OTCQB: MTAFF
VANCOUVER
,
Dec. 10, 2019
/CNW/ -
Metalla Royalty & Streaming Ltd.
("
Metalla
" or the
"
Company
") (TSXV: MTA) (OTCQB: MTAFF) announced today that it has applied to list its common
shares on the NYSE American, LLC ("
NYSE American
"). Metalla's common shares will trade on the
NYSE American under the ticker symbol "MTA" and a trading date for the listing will be announced
once all regulatory requirements are satisfied. The listing of Metalla's common shares remains
subject to the approval of the NYSE American and the satisfaction of all applicable listing and
regulatory requirements.
Metalla's President and Chief Executive Officer,
Brett Heath
, commented: "Listing on the NYSE
American represents a significant milestone in the growth of the Company. The listing will materially
increase Metalla's exposure to a larger and more diverse group of institutional and retail investors as
we continue to grow our portfolio of precious metals royalties and streams. The share consolidation
allows for Metalla to meet the minimum requirements for the NYSE American, which we believe will
improve trading liquidity and expand our globally diverse shareholder base."
Share Consolidation to satisfy NYSE American Listing Requirements
In connection with the planned listing on the NYSE American, the Company is implementing a
consolidation of its outstanding common shares. The Company's board of directors has determined
that the consolidation will be effected on the basis of one new common share for every four currently
outstanding common shares (the "
Consolidation
") The Consolidation will take effect on or about
December 17, 2019
(the "
Effective Date
") and the Company's common shares are expected to
commence trading on the TSX Venture Exchange on a post-Consolidation basis beginning at the
open of markets on or about
December 19, 2019
. There are currently 135,160,667 common shares
issued and outstanding, and it is expected that there will be 33,790,167 common shares issued and
outstanding following the Consolidation, subject to rounding for any fractional shares. No fractional
shares will be issued as a result of the share Consolidation. Fractional interests of 0.5 or greater will
be rounded up to the nearest whole number of shares and fractional interests of less than 0.5 will be
rounded down to the nearest whole number of common shares.
Effect of the Consolidation on Registered and Beneficial Holders
Registered shareholders holding share certificates will be mailed a letter of transmittal advising of
the share consolidation and instructing them to surrender their share certificates representing pre-
Consolidation common shares for replacement certificates representing their post-Consolidation
common shares. Until surrendered for exchange, following the effective date of the Consolidation,
each share certificate formerly representing pre-Consolidation common shares will be deemed to
represent the number of whole post-Consolidation common shares to which the holder is entitled as
a result of the Consolidation.
Holders of common shares of the Company who hold uncertificated common shares (i.e., common
shares held in book-entry form and not represented by a physical share certificate), either as
registered holders or beneficial owners, will have their existing book-entry account(s) electronically
adjusted by the Company's transfer agent or, for beneficial shareholders, by their brokerage firms,
banks, trusts or other nominees that hold in "street name" for their benefit. Such holders do not need
to take any additional actions to exchange their pre-Consolidation common shares for post-
Consolidation common shares.
Beneficial shareholders holding their common shares through a bank, broker or other nominee should
note that such banks, brokers or other nominees may have different procedures for processing the
Consolidation than those that have been put in place by the Company for registered shareholders. If
you hold your common shares with such a bank, broker or other nominee and if you have questions
in this regard, you are encouraged to contact your nominee.
Effect of the Consolidation on the payment of Dividends
Further to the Company's press release dated
November 26, 2019
, Metalla has announced a
monthly dividend payment on its common shares for January and
February 2020
. In order to
maintain the same aggregate pre consolidation dividend payment, following the effective date of the
Consolidation, the per share dividend payment amount will be automatically adjusted such that the
dividend payment amount will be
$0.004
per share.
ABOUT METALLA
Metalla is a precious metals royalty and streaming company. Metalla provides shareholders with
leveraged precious metal exposure through a diversified and growing 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
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
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 and information include, but are not limited to, statements with respect to the
timing, receipt of regulatory approval for, and completion of the Consolidation and listing of the
Company's common shares on a U.S. stock exchange as well as statements relating to future
trading liquidity and our future shareholder base, enhancement of Metalla's portfolio of precious
metals royalties and streams,future cash generation, future dividends, and the potential for Metalla
to become one of the leading precious metal royalty and streaming companies. 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
requirement for regulatory approvals, exchange approval, and third party consents, risks and
uncertainties related to obtaining regulatory approval and exchange approval in a timely manner,
or at all, the impact of general business and economic conditions and other related risks and
uncertainties including 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.
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.
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%SEDAR: 00005157E
For further information:
Contact 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]; Website:
www.metallaroyalty.com
CO: Metalla Royalty and Streaming Ltd.
CNW 08:30e 10-DEC-19