Metalla Completes Acquisition of Royalties ON Barrick Gold'S Lama Complex NYSE American: MTA
METALLA COMPLETES ACQUISITION OF ROYALTIES ON
BARRICK GOLD'S LAMA COMPLEX
NYSE AMERICAN:
MTA
TSX-V:
MTA
Unless otherwise specified, all references to dollars set forth herein shall mean United States dollars.
VANCOUVER, BC
,
March 9, 2023
/CNW/
-
Metalla Royalty & Streaming Ltd. ("
Metalla
" or the "
Company
") (NYSE American: MTA)
(TSXV: MTA) is pleased to announce that, further to its news release dated
December 12, 2022
, it has completed (the "
Closing
") the
acquisition of one half of an existing 5% to 7.5% step scale gross gold proceeds royalty (constituting a 2.5% to 3.75% step scale
gross gold proceeds royalty payable to Metalla) that is payable on gold bullion and unrefined gold, and one half of an existing 0.5% to
6% sliding scale net smelter return royalty (constituting a 0.25% to 3.0% sliding scale net smelter return royalty payable to Metalla) on
copper and all other minerals (other than silver and gold), extracted from the Lama project owned and operated by a wholly-owned
subsidiary of Barrick Gold Corporation, from an arm's length third party for
$2.5 million
in cash and 466,827 common shares of
Metalla ("
Shares
") at a price of
$5.3553
per Share (representing
$2.5 million
priced on the 15-day volume-weighted average price on
the NYSE American at signing). An additional
$2.5 million
in cash or common shares is to be paid to the third party within 90 days
upon the earlier of (i) a 2 Moz gold proven & probable mineral reserve estimate on the royalty area, or (ii) 36 months after the Closing
for a total purchase price of
$7.5 million
in cash and common shares.
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"
Website:
www.metallaroyalty.com
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 statements and forward-looking information within the meaning of
United States
and
Canadian regulations. 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 in this release include, but are not limited to, statements with respect to 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 milestones may not be satisfied; 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
. Although Metalla has 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. 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.
View original content to download multimedia:
https://www.prnewswire.com/news-releases/metalla-completes-acquisition-of-royalties-on-barrick-golds-lama-complex-301768443.html
SOURCE
Metalla Royalty and Streaming Ltd.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/March2023/09/c3825.html
%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]
CO: Metalla Royalty and Streaming Ltd.
CNW 16:06e 09-MAR-23