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Metalla Secures $12 Million Convertible Loan Facility From Beedie Capital
Metalla Secures $12 Million Convertible Loan Facility From Beedie Capital Canada N...
About this update from Metalla Royalty & Streaming Ltd.
[{"type":"text","content":"\n\n\n\nMetalla Secures $12 Million Convertible Loan Facility From Beedie Capital\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, April 1, 2019\n\n\n\nTSXV:  MTA OTCQX: MTAFF Frankfurt: X9CP\n(All amounts expressed in Canadian dollars unless otherwise noted.)\n VANCOUVER, April 1, 2019 /CNW/ - Metalla Royalty & Streaming Ltd. (\"Metalla\" or the \"Company\") (TSXV: MTA) (OTCQX: MTAFF) (FRANKFURT: X9CP) is pleased to announce a convertible loan facility (the \"Loan Facility\") of $12.0 million (the \"Loan\") with Beedie Capital (\"Beedie\") to fund acquisitions of new royalties and streams. The Loan will be funded by way of an initial advance of $7.0 million within 90 days from closing, and the remaining $5.0 million will be available for subsequent advances in minimum tranches of $1.25 million.\n\n \n \n\n \nBrett Heath, President, and CEO of Metalla commented: \"We are pleased to welcome Beedie as a partner and strategic investor in Metalla. Beedie has proven to be an exceptional capital partner for growing businesses. We look forward to having the financial support and backing of Beedie through our next stage of growth as we continue to add more accretive royalties to our portfolio.\"\n\"We are very excited to partner with the Metalla team at their inflection point of becoming a premier precious metals royalty company,\" said David Bell, Director at Beedie Capital. \"We are impressed by Metalla's ability to repeatedly identify and acquire highly accretive royalty assets and look forward to supporting them in their next phase of value creation for all of the Company's stakeholders.\"\nThe Loan Facility carries an interest rate of 8.0% on advanced funds and 2.5% on standby funds available, with the principal payment due 48 months after the date the financing is completed (the \"Closing Date\"). The Loan can be repaid with no penalty after 18 months and carries no warrant coverage. The principal amount of the Loan will be convertible into common shares of the Company (\"Metalla Shares\") at a con...