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Metalla closes Santa Gertrudis Royalty acquisition
Metalla closes Santa Gertrudis Royalty acquisition Canada NewsWire VANCOUVER, No...
About this update from Metalla Royalty & Streaming Ltd.
[{"type":"text","content":"\n\n\n\nMetalla closes Santa Gertrudis Royalty acquisition\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, Nov. 7, 2018\n\n\n\n(All dollar amounts are in Canadian dollars unless otherwise indicated)\nTSXV:  MTAOTCQX: MTAFFFrankfurt: X9CP\n VANCOUVER, Nov. 7, 2018 /CNW/ - Metalla Royalty & Streaming Ltd. (\"Metalla\" or the \"Company\") (TSXV: MTA) (OTCQX: MTAFF) (FRANKFURT: X9CP) is pleased to announce that it has closed its previously announced acquisition of a 2% net smelter return royalty (the \"Royalty\") on the Santa Gertrudis gold property located north of Hermosillo in Sonora, Mexico from GoGold Resources Inc. (\"GoGold\") (as disclosed in a news release dated September 5, 2018) (the \"Transaction\") for US$12 million.\n\n \n \n\n \nBrett Heath, President, and CEO of Metalla commented, \"We are pleased to have completed this transaction to give our shareholders exposure to world-class mining operator Agnico Eagle Mines Ltd. The Royalty on Santa Gertrudis will represent a long life and low-cost mine on an expansive land package that will translate into a future cornerstone asset in the Metalla royalty portfolio.\" Mr. Heath continued, \"We also would like to welcome GoGold as a new shareholder. This transaction is a great example of our 3rd party royalty model at work, allowing holders of pre-existing royalties to maximize the value and maintain the exposure of the royalty through our equity.\"\nSHARE ELECTION\nGoGold elected to accept US$6 million of the purchase price by being issued common shares of Metalla (the \"Metalla Shares\") at a deemed price of $0.78 per Metalla Share (the \"Share Consideration\"). The Share Consideration represents a total of 10,123,077 Metalla Shares with a pro forma interest of 9.9%. The Share Consideration will be subject to a 4-month hold period under applicable securities laws, rules of the TSX Venture Exchange (the \"Exchange\"), and further trading restrictions governed by the definitive agreement.\nLOAN AGREEMENTS\nMetalla has also entered into loan agreements with a syndicate of arm's leng...