MTA.V · 2021-03-17 12:00:00

Metalla Completes Acquisition of Royalty on Eldorado Gold's Tocantinzinho Project, Announces Conversion and Drawdown on Convertible Loan Facility, and Provides Update on ATM Program NYSE AMERICAN: MTA

Financings Debt & Credit Facilities Mergers & Acquisitions Royalties & Streams

Metalla Completes Acquisition of Royalty on

Eldorado Gold's Tocantinzinho Project,

Announces Conversion and Drawdown on

Convertible Loan Facility, and Provides

Update on ATM Program

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

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

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.

View original content to download multimedia:

http://www.newswire.ca/en/releases/archive/March2021/17/c2200.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], Website: www.metallaroyalty.com

CO: Metalla Royalty and Streaming Ltd.

CNW 16:10e 17-MAR-21

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