Business
Metalla Closes First Tranche of Oversubscribed Private Placement Financing and Announces Increase in Offering Size to $6.8 Million
Metalla Closes First Tranche of Oversubscribed Private Placement Financing and Announces I...
About this update from Metalla Royalty & Streaming Ltd.
[{"type":"text","content":"\n\n\n\nMetalla Closes First Tranche of Oversubscribed Private Placement Financing and Announces Increase in Offering Size to $6.8 Million\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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Dec. 21, 2018\n\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN UNITED STATES/\n(All dollar amounts are in Canadian dollars unless otherwise indicated)\nTSXV: MTAOTCQX: MTAFFFrankfurt: X9CP\n VANCOUVER, Dec. 21, 2018 /CNW/ - Metalla Royalty & Streaming Ltd. (\"Metalla\" or the \"Company\") (TSXV: MTA) (OTCQX: MTAFF) (FRANKFURT: X9CP) is pleased to announce that the Company has closed the first tranche of its previously announced brokered \"best efforts\" private placement financing of 4,521,400 units of the Company (the \"Units\") at a price of $0.78 per Unit (the \"Issue Price\") for gross proceeds of $3,526,692. Due to significant demand from investors, the Company is also pleased to announce that it has entered into an amendment agreement with Haywood Securities Inc. (\"Haywood\"), on behalf of a syndicate of agents, including PI Financial Corp. and Canaccord Genuity Corp. (together with Haywood, the \"Agents\"), pursuant to which the Company and the Agents have agreed to increase the size of the private placement Offering to 8,724,896 Units for gross proceeds of approximately $6.8 million (the \"Offering\"). \n\n \n \n\n \nEach Unit will consist of one common share in the capital of the Company (a \"Common Share\") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a \"Warrant\"). Each Warrant will entitle the holder thereof to acquire one Common Share of the Company at a price of C$1.17 for a period of 24 months from the closing of the Offering (the \"Closing\"). In the event that the closing price of the Common Shares on the TSX Venture Exchange (\"TSXV\") (or other stock exchange) is greater than C$1.50 per Common Share for a period of 10 consecutive trading days at any time after the Closing, the Company may accelerate the ex...