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Metalla Completes Conversion and Drawdown under Debt Facility with Beedie Capital and Announces Warrant Expiry Acceleration
Metalla Completes Conversion and Drawdown under Debt Facility with Beedie Capital and Anno...
About this update from Metalla Royalty & Streaming Ltd.
[{"type":"text","content":"\n\n\n\nMetalla Completes Conversion and Drawdown under Debt Facility with Beedie Capital and Announces Warrant Expiry Acceleration\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, BC, Aug. 6, 2020\n\n\n\nTSXV:  MTA NYSE AMERICAN: MTA \nUnless otherwise specified, all references to dollars set forth herein shall mean Canadian dollars.\n VANCOUVER, BC, Aug. 6, 2020 /CNW/ - Metalla Royalty & Streaming Ltd. (\"Metalla\" or the \"Company\") (TSXV: MTA) (NYSE American: MTA) is pleased to announce that it has completed its previously announced conversion of $6M of principal amount outstanding under the Company's amended and restated convertible loan facility (the \"Loan Facility\") with Beedie Capital (\"Beedie\"). As a result of the conversion, Beedie was issued 1,079,136 common shares of Metalla in satisfaction of the $6M principal amount outstanding. The Company also announces that it has been advanced an additional $5M under the Loan Facility, as previously disclosed by the Company in a news release dated July 29, 2020. \n\n \n \n \n \n \n \n\n \nACCELERATION OF WARRANTS \nThe Company is also announcing today that it is electing to accelerate the expiry of certain outstanding common share purchase warrants of the Company exercisable at an adjusted price of $4.68 per post-consolidated‎ Common Share and broker warrants exercisable at an adjusted price of $3.12 per Common Share‎(collectively, the \"Warrants\"). The Warrants were issued pursuant to a brokered private placement of the Company that ‎closed in two tranches on December 21, 2018 and January 4, 2019. ‎\nPursuant to the terms of the Warrants, in the event that the closing price of the Common Shares is greater than the adjusted price of CAD$6.00 per Common Share for ten (10) consecutive trading days ‎at any time after the issue date (the \"Acceleration Trigger\"), the Company may accelerate the ‎expiry date of the Warrants by providing written notice, or by way of news release in lieu of ‎w...