Metalla Royalty & Streaming Ltd. (TSX-V: MTA) (NYSE American: MTA) and Coeur Mining, Inc. (NYSE: CDE) announced that further to their press releases dated June 22, 2020 and June 23, 2020, they have closed the public offering of 3,910,000 common shares of Metalla currently held by Coeur at a price of US$5.30 per Common Share for gross proceeds to Coeur of US$20,723,000, including 510,000 Common Shares as a result of the full exercise of the over-allotment option. PI Financial Corp., Haywood Securities Inc. and Cantor Fitzgerald Canada Corporation acted as co-lead underwriters for the Secondary Offering for a syndicate of underwriters including BMO Nesbitt Burns Inc. and Cormark Securities Inc. pursuant to an underwriting agreement with Metalla and Coeur dated June 23, 2020.
The net proceeds of the Secondary Offering were paid directly to Coeur, and Metalla did not receive any proceeds from the Secondary Offering.
Prior to the completion of the Secondary Offering, Coeur owned 5,241,310 common shares of Metalla, representing approximately 14.9% of the issued and outstanding common shares of Metalla. Following completion of the Secondary Offering and the repurchase by Coeur from Metalla of a 0.3875% royalty interest in Coeur’s Wharf mine in exchange for 421,554 common shares of Metalla, which was previously disclosed in Metalla’s June 22, 2020 news release, Coeur owns 909,756 common shares of Metalla, representing approximately 2.53% of the total issued and outstanding common shares of Metalla.
The Secondary Offering was made in each of the provinces of Canada (excluding Quebec) and in the United States by way of (i) a prospectus supplement to the Company’s existing U.S. registration statement on Form F–10 dated May 1, 2020; and (ii) a prospectus supplement to the Company’s Canadian short form base shelf prospectus dated May 1, 2020. The Canadian Prospectus Supplement was filed with the securities commissions in each of the provinces of Canada and the U.S. Prospectus Supplement was filed with the United States Securities and Exchange Commission.
The U.S. Prospectus Supplement is available on the SEC’s website at www.sec.gov and the Canadian Prospectus Supplement (together with the related Base Shelf Prospectus) is available on the SEDAR website maintained by the Canadian Securities Administrators at www.sedar.com. Alternatively, copies of the U.S. Prospectus Supplement and Canadian Prospectus Supplement may be obtained from PI Financial Corp., by email at firstname.lastname@example.org, Haywood Securities Inc., by email at email@example.com and Cantor Fitzgerald Canada Corporation by email at firstname.lastname@example.org.
A copy of a report filed by Coeur pursuant to the early warning requirements of National Instrument 62-103 will appear under Metalla’s profile on the SEDAR website at www.sedar.com.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the Common Shares in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of that jurisdiction.
Metalla was created for the purpose of providing shareholders with leveraged precious metal exposure by acquiring royalties and streams. Our goal is to increase share value by accumulating a diversified portfolio of royalties and streams with attractive returns. Our strong foundation of current and future cash-generating asset base, combined with an experienced team, gives Metalla a path to become one of the leading gold and silver companies for the next commodities cycle.
Coeur Mining, Inc. is a U.S.-based, well-diversified, growing precious metals producer with five wholly-owned operations: the Palmarejo gold-silver complex in Mexico, the Rochester silver-gold mine in Nevada, the Kensington gold mine in Alaska, the Wharf gold mine in South Dakota, and the Silvertip silver-zinc-lead mine in British Columbia. In addition, the Company has interests in several precious metals exploration projects throughout North America.
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