Maverix Metals Acquires Silver Stream on the El Mochito Mine

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[{"type":"text","content":"\n\n\n\nMaverix Metals Acquires Silver Stream on the El Mochito Mine\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.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; TEXT-ALIGN: LEFT; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 28, 2019\n\n\n\nVANCOUVER, March 28, 2019 /CNW/ - Maverix Metals Inc. (the \"Company\" or \"Maverix\") (TSX-V: MMX) is pleased to announce that it has entered into a life of mine purchase and sale agreement for silver produced from the El Mochito Mine (\"El Mochito\"), owned and operated by Ascendant Resources Inc. (\"Ascendant\").\n\n \n \n\n \nMaverix will make an advance payment of US$7,500,000 for the right to purchase 22.5% of the silver produced from El Mochito (the \"Silver Stream\"), and subject to certain conditions, a further US$7,500,000 for an additional 17.5% of the silver produced (the \"Option Stream\"). Maverix will pay 25% of the silver price at the time of delivery, for each silver ounce delivered.\n\"We are very pleased to partner with the team at Ascendant and we look forward to participating with them in the long-term potential of El Mochito,\" commented Dan O'Flaherty, CEO of Maverix. \"This transaction is consistent with our stated strategy of acquiring long life precious metal streams that are immediately accretive to both our cash flow and net asset value.\"\nAcquisition Highlights\nImmediate Increase to Cash Flow: Maverix expects average annual silver deliveries of approximately 165,000 ounces over the first three years at a Silver Stream rate of 22.5%. Accretive Transaction: The transaction is accretive to Maverix across all key metrics, including net asset value, cash flow, and attributable gold ...

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