Thursday, January 02, 2020 3:45:01 PM
$MMX Maverix Metals
One of Mavs plays on radar
Maverix Metals Inc., a precious metals royalty and streaming company, engages in the exploration and development of mineral properties. The company explores for gold, silver, and other precious metals. It holds a portfolio of 46 development and exploration stage royalties in the United States, Canada, Australia, and internationally. The company was incorporated in 2016 and is headquartered in Vancouver, Canada.
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Maverix Metals Completes Acquisition of Royalty Portfolio from Kinross Gold
PR NewswireDecember 19, 2019
VANCOUVER, Dec. 19, 2019 /PRNewswire/ - Maverix Metals Inc. (the "Company" or "Maverix") (NYSE American & TSX: MMX) is pleased to announce that is has completed the previously announced acquisition of a portfolio of over 20 precious metals royalties (the "Royalty Portfolio") from Kinross Gold Corporation ("Kinross") (the "Transaction").
Maverix Metals Inc. (CNW Group/Maverix Metals Inc.)
As consideration for the Transaction, Maverix has issued 11.2 million common shares and made a cash payment of US$25 million to Kinross. Maverix used existing cash on hand and its revolving credit facility to fund the US$25 million cash payment. Maverix will now have a total of 119.5 million common shares issued and outstanding, of which Newmont Goldcorp Corporation, Pan American Silver Corp and Kinross hold approximately 25.1%, 23.1% and 9.4% respectively.
Certain royalties in the Royalty Portfolio are subject to restrictions on their transfer which include rights of first refusal. The rights of first refusal will permit the underlying property owner the right to purchase the specific royalty for cash on the same valuation as established by Kinross and Maverix. If the rights of first refusal are not exercised, then the specific royalties will be acquired by Maverix pursuant to additional closings. Any proceeds from the exercise of a right of first refusal will be paid to Maverix.
As part of the Transaction, Kinross and Maverix entered into an Investor Agreement dated December 19, 2019, pursuant to which, among other things, Kinross will receive certain anti-dilution rights in respect of future equity financings of Maverix and Maverix will receive the opportunity to make an offer to acquire certain metal streams or metal royalties, which Kinross might contemplate selling in the future.
About Maverix
Maverix is a gold-focused royalty and streaming company with a globally diversified portfolio of over 100 assets, of which 14 are currently paying. Maverix's mission is to increase per share value by continuing to add new precious metals royalties and streams. Its shares trade on both the NYSE American and the TSX under the ticker symbol "MMX". https://finance.yahoo.com/news/maverix-metals-completes-acquisition-royalty-225100900.html
One of Mavs plays on radar
Maverix Metals Inc., a precious metals royalty and streaming company, engages in the exploration and development of mineral properties. The company explores for gold, silver, and other precious metals. It holds a portfolio of 46 development and exploration stage royalties in the United States, Canada, Australia, and internationally. The company was incorporated in 2016 and is headquartered in Vancouver, Canada.
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Maverix Metals Completes Acquisition of Royalty Portfolio from Kinross Gold
PR NewswireDecember 19, 2019
VANCOUVER, Dec. 19, 2019 /PRNewswire/ - Maverix Metals Inc. (the "Company" or "Maverix") (NYSE American & TSX: MMX) is pleased to announce that is has completed the previously announced acquisition of a portfolio of over 20 precious metals royalties (the "Royalty Portfolio") from Kinross Gold Corporation ("Kinross") (the "Transaction").
Maverix Metals Inc. (CNW Group/Maverix Metals Inc.)
As consideration for the Transaction, Maverix has issued 11.2 million common shares and made a cash payment of US$25 million to Kinross. Maverix used existing cash on hand and its revolving credit facility to fund the US$25 million cash payment. Maverix will now have a total of 119.5 million common shares issued and outstanding, of which Newmont Goldcorp Corporation, Pan American Silver Corp and Kinross hold approximately 25.1%, 23.1% and 9.4% respectively.
Certain royalties in the Royalty Portfolio are subject to restrictions on their transfer which include rights of first refusal. The rights of first refusal will permit the underlying property owner the right to purchase the specific royalty for cash on the same valuation as established by Kinross and Maverix. If the rights of first refusal are not exercised, then the specific royalties will be acquired by Maverix pursuant to additional closings. Any proceeds from the exercise of a right of first refusal will be paid to Maverix.
As part of the Transaction, Kinross and Maverix entered into an Investor Agreement dated December 19, 2019, pursuant to which, among other things, Kinross will receive certain anti-dilution rights in respect of future equity financings of Maverix and Maverix will receive the opportunity to make an offer to acquire certain metal streams or metal royalties, which Kinross might contemplate selling in the future.
About Maverix
Maverix is a gold-focused royalty and streaming company with a globally diversified portfolio of over 100 assets, of which 14 are currently paying. Maverix's mission is to increase per share value by continuing to add new precious metals royalties and streams. Its shares trade on both the NYSE American and the TSX under the ticker symbol "MMX". https://finance.yahoo.com/news/maverix-metals-completes-acquisition-royalty-225100900.html
Maverick CQs Surf Dog on the move
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