VANCOUVER, BC , June 30, 2020 /CNW/ - Metalla Royalty & Streaming Ltd. (MTA.V) (NYSE American: MTA) (the "Company" or "Metalla") and Coeur Mining, Inc. (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 firstname.lastname@example.org, Haywood Securities Inc., by email at email@example.com and Cantor Fitzgerald Canada Corporation by email at firstname.lastname@example.org.
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.
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.
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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