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Metalla and Coeur Close US$20.7 Million Secondary Bought Deal Offering of Common Shares of Metalla Including Full Exercise of Over-Allotment Option
Metalla and Coeur Close US$20.7 Million Secondary Bought Deal Offering of Common Shares of...
About this update from Metalla Royalty & Streaming Ltd.
[{"type":"text","content":"\n\n\n\nMetalla and Coeur Close US$20.7 Million Secondary Bought Deal Offering of Common Shares of Metalla Including Full Exercise of Over-Allotment Option\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, June 30, 2020\n\n\n\nVANCOUVER, BC, June 30, 2020 /CNW/ - Metalla Royalty & Streaming Ltd. (TSXV: MTA) (NYSE American: MTA) (the \"Company\" or \"Metalla\") and Coeur Mining, Inc. (NYSE: 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.\n\n \n \n \n \n \n \n\n \nThe net proceeds of the Secondary Offering were paid directly to Coeur, and Metalla did not receive any proceeds from the Secondary Offering. \nPrior 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.\nThe 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 \...