Metalla Provides 2022 Year-End Review
METALLA PROVIDES 2022 YEAR-END
REVIEW
(All dollar amounts are in United States dollars unless otherwise indicated)
TSXV:
MTA
NYSE AMERICAN:
MTA
VANCOUVER, BC
,
Dec. 28, 2022
/CNW/ -
Metalla Royalty & Streaming Ltd.
("
Metalla
" or the
"
Company
") (TSXV: MTA) (NYSE American: MTA) is pleased to provide a summary of milestones
achieved in 2022.
"2022 was a significant year for Metalla and the precious metals royalty landscape," said
Brett
Heath
, President and CEO of Metalla Royalty. "We announced five transactions, to acquire 15 new
royalties, for a combined purchase price of
$33.5 million
in cash and stock. We took a defensive
approach for the first three quarters of the year, given the increased merger and acquisition
activity. After seeing several peer group companies acquired or merged into new entities, we see a
tremendous opportunity to capitalize on our business strategy as we have seen in the fourth
quarter of 2022. We believe Metalla has a significant advantage in 2023, attracting more high-
quality third-party assets, given the size, scale, and track record."
2022 ACQUISITION SUMMARY
During 2022, we acquired or entered into agreements to acquire the following royalties:
2.5%-3.75% sliding scale Gross Value Return ("
GVR
") royalty over gold and a 0.25%-3.0% Net
Smelter Return ("
NSR
") on all metals (other than gold) on the majority of Barrick Gold
Corporation's ("
Barrick
") (NYSE: GOLD; TSX: ABX) world-class Lama project located in
Argentina
(1)
.
a portfolio of royalties from First Majestic Silver Corp. ("
First Majestic
") (NYSE: AG) (TSX:
FR):
100% GVR royalty on gold production from the producing
La Encantada
mine located in
Coahuila, Mexico
operated by First Majestic limited to 1,000 ounces annually;
2.0% NSR royalty on the past producing
Del Toro
mine located in
Zacatecas, Mexico
owned by First Majestic;
2.0% NSR royalty on the
La Guitarra
mine located in Temascaltepec,
Mexico
owned by
Sierra Madre
(TSXV: SM);
2.0% NSR royalty on the Plomosas project located in
Sinaloa, Mexico
owned by GR Silver
(TSXV: GRSL);
2.0% NSR royalty on the past-producing
San Martin
mine located in
Jalisco, Mexico
owned
by First Majestic;
2.0% NSR royalty on the past producing La Parrilla mine located in
Durango, Mexico
, which
the property was recently optioned to Golden Tag Resources (TSXV: GOG);
2.0% NSR royalty on the
La Joya
project located in
Durango, Mexico
owned by Silver
Dollar (CSE: SLV); and
2.0% NSR royalty on the
La Luz
project located in
San Luis Potosi, Mexico
owned by First
Majestic.
1.0% NSR royalty on the
Lac Pelletier
project owned by Maritime Resources Corp. (TSXV:
MAE) located in
Quebec, Canada
.
a portfolio of assets from Alamos Gold Inc
(2)
:
20% silver stream over the
Esperanza
project owned by Zacatecas Silver (TSXV: ZAC)
located in
Mexico
.
1.4% NSR royalty on the Fenn Gibb South project owned by Mayfair Gold Corp. (TSX:
MFG) located in
Ontario, Canada
.
2.0% NSR royalty on the Ronda project owned by Platinex Inc. (CSE: PTX) located in
Ontario, Canada
.
2.0% NSR royalty on the Northshore West property owned by New Path Resources Inc.
(CSE: RDY) located in
Ontario, Canada
.
amended an existing 1.0% NSR royalty on Monarch Mining Corporation's (TSX: GBAR)
("Monarch") Beaufor Mine ("Beaufor"). In consideration for
$1.0 million
paid in cash to Monarch,
Monarch agreed to waive a clause stipulating that payments under the NSR royalty were only
payable after 100 Koz of gold have been produced by Monarch following its acquisition of
Beaufor.
Please refer to the applicable Metalla news release for further details regarding the events and
transactions described above.
SIGNIFICANT ADVANCEMENTS WITH PORTFOLIO ASSETS
1.35% NSR royalty on the Côté Gold Project owned by IAMGOLD Corporation ("
IAMGOLD
")
(NYSE: IAG) (TSX: IAG) – IAMGOLD raised nearly
$1 billion
to meet the remaining funding
requirements for completion of construction at the Côté Gold Project, which is 70% complete on
track for production in early 2024
3
.
1.0% NSR royalty on the Camflo project owned by Agnico Eagle Mines Ltd. ("
Agnico
") (NYSE:
AEM) (TSX: AEM) - Canadian Malartic partnership has identified porphyry hosted gold
mineralization that could potentially be mined via an open pit at the Camflo property and provide
tonnage to the Canadian Malartic operation
4
.
1.5% NSR royalty on the Wasamac project owned by Yamana Gold Inc. (NYSE: AUY) (TSX:
YRI) - A reassessment of the Wasamac project highlighted an improved gold production profile
of 250 Koz annually for more than 10 -15 years
5
.
2.0% NSR royalty on the Garrison project owned by Moneta Gold Inc (TSXV: ME) - Average
annual gold production over the first eleven years is expected to be 261 Koz gold with the
majority of the ounces in the first five to six years sourced from the Garrison Open pit
6
.
0.75% GVR royalty on the Tocantinzinho project owned by G Mining Ventures Corp (TSXV:
GMIN) - Project financing is now in place with construction underway and targeting production
for the second half of 2024 with significant exploration success achieved underpinning a ~200
Koz gold production profile
7
.
CORPORATE UPDATE
In accordance with the Company's share compensation plan, Metalla announces the grant of
390,000 restricted share units (each "
RSU
") to certain directors, officers, and employees of the
Company. The RSUs vest in two equal installments, twelve and twenty-four months from the date of
grant. Each vested RSU entitles the holder to acquire one common share of the Company or the
equivalent cash value thereof
C$6.95
.
QUALIFIED PERSON
The technical information contained in this news release has been reviewed and approved
by Charles Beaudry, M.Sc., geologist and member of the Association of Professional Geoscientists
of Ontario and the Ordre des Géologues du Québec and a consultant to Metalla. Mr. Beaudry is a
Qualified Person as defined in National Instrument 43-101,
Standards of Disclosure for Mineral
Projects
("
NI 43
101
").
ABOUT METALLA
Metalla was created to provide 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 royalty 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
Website:
www.metallaroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of
this release.
Notes:
(1)
For details, please refer to the Company's
December 12, 2022 press release
regarding Lama. Under a definitive agreement with a third-party seller and subject to completion of
the acquisition.
(2)
For details, please refer to the Company's
December 22, 2022 press release
regarding Alamos Gold. Under definitive agreement and subject to completion.
(3)
For details, please refer to IAMGOLD's
December 19, 2022 press release
regarding Côté Gold and
Northern Miner's December 20, 2022 Cote Article
.
(4)
For details, please refer to Agnico Eagle's
August 11, 2022 Exploration press release
regarding Exploration Updates.
(5)
For details, please refer to the Yamana Gold's
November 10, 2022 press release
regarding the Wasamac Project.
(6)
For details, please refer to
Moneta Gold's September 7, 2022 Preliminary Economic Assessment
press release regarding the Tower Gold Project.
(7)
For details, please refer to the Company's
November 22, 2022 press release
regarding G Mining.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements and forward-looking information (collectively,
"forward-looking statements")
within the meaning of applicable securities legislation.
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 include, but are not limited to, the completion of transactions previously announced by
the Company to acquire new royalties; the satisfaction of the applicable
closing conditions thereto;
the Company
'
s payment of the applicable purchase price; future opportunities and acquisitions;
future exploration, financing, development, production and other anticipated developments on the
properties in which the
Company has or has agreed to acquire an interest; vesting or payment of
RSUs; increasing shareholder value;
future cash generation and returns; and Metalla having a
path to becoming a leading gold and silver royalty 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: announced royalty transactions may not
close due to an inability to satisfy closing conditions, or for other reasons;
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 pandemics, including the current 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.
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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:
CO: Metalla Royalty and Streaming Ltd.
CNW 07:00e 28-DEC-22