Business
Metalla Completes Acquisition of 5% Royalty on Equinox Gold's Castle Mountain Gold Mine
Metalla Completes Acquisition of 5% Royalty on Equinox Gold's Castle Mountain Gold Mine ...
About this update from Metalla Royalty & Streaming Ltd.
[{"type":"text","content":"\n \n \n \n Metalla Completes Acquisition of 5% Royalty on Equinox Gold's Castle Mountain Gold Mine\n \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.prntar{\nTEXT-ALIGN: RIGHT\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n PR Newswire\n \n \n \n \n \n \n \n \n NYSE AMERICAN:\n \n \n \n MTA\n \n \n \n \n \n TSX-V:\n \n \n \n MTA\n \n \n \n \n \n \n \n (All Currency is in\n \n United States\n \n (US$) dollars unless otherwise noted)\n \n \n \n \n VANCOUVER, BC\n \n ,\n \n Oct. 1, 2021\n \n /PRNewswire/ - Metalla Royalty & Streaming Ltd. (\"\n \n Metalla\n \n \" or the \"\n \n Company\n \n \") (NYSE American: MTA) (TSXV: MTA) is pleased to announce that, further to its news release dated\n \n September 13, 2021\n \n , it has closed (the \"\n \n Closing\n \n \") the acquisition of an existing 5% net smelter return royalty (the \"\n \n Royalty\n \n \") from an arm's length seller (the \"\n \n Seller\n \n \") on the South Domes portion of the Castle Mountain Gold mine owned by Equinox Gold Corp. (NYSE: EQX; TSX: EQX).\n \n \n \n \n \n \n \n \n \n On Closing, Metalla paid\n \n $10 million\n \n in cash to the Seller (the \"\n \n Closing Payment\n \n \") with the remaining\n \n $5 million\n \n of the purchase price to be paid within twenty months from the closing date bearing interest at a rate of 4% per annum from the closing date.\n \n \n \n FINANCIAL UPDATE\n \n \n \n The Company has completed its previously announced drawdown of an additional\n \n C$3 million\n \n (the \"\n \n Drawdown Amount\n \n \") under its existing amended and restated convertible loan facility (the \"\n \n Convertible Loan Facility\n \n \") with Beedie Capital (\"\n \n Beedie\n \n \"). The Drawdown Amount will accrue interest at 8% per annum with the remaining\n \n C$12 million\n \n available to the Company under the Convertible Loan Facility subject to stand-by interest of 1.5% per annum.\n \n \n The Drawdown Amount is convertible by Beedie into common shares of Metalla (\"\n \n Common Shares\n \n \") at a conversion price of\n \n C$11.16\n \n which is based on a 20% premium above the 30-day volu...