Metalla Royalty & Streaming Ltd.  (TSX-V: MTA) (NYSE American: MTA) is pleased to announce that Beedie Investments Ltd. has completed funding of ‎the previously announced C$15 million equity placement pursuant to which Beedie subscribed for 2,835,539 subscription receipts at a price of C$5.29 per Subscription Receipt.

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Upon completion of the previously announced plan of arrangement involving Metalla and Nova Royalty Corp. (TSX-V: NOVR) and ‎subject to certain customary conversion conditions for a transaction of this nature  each Subscription Receipt will convert into one common share of Metalla without payment of additional consideration or further action on the part of Beedie. The TSX Venture Exchange has conditionally accepted for listing the Metalla Shares issuable upon conversion of the Subscription Receipts, subject to receipt of final approval.

The proceeds of the Equity Investment will be held in escrow pending satisfaction of the Escrow Release Conditions. If the Escrow Release Conditions are satisfied on or before March 1, 2024, the escrowed funds will be released to Metalla. If the Escrow Release Conditions are not satisfied ‎prior to March 1, 2024, the escrowed funds will be returned to Beedie, and the Subscription Receipts will be ‎cancelled and have no further force or effect. ‎

The proceeds of the Equity Investment will be used for the acquisition of royalties and ‎streams, transaction expenses, and general and administrative expenses of the combined company following completion of the Arrangement.

The Subscription Receipts were offered on a private placement basis pursuant to an exemption from prospectus requirements of applicable securities laws and the securities issued under the Equity Investment will be subject to a statutory hold period of four months and a day in accordance with applicable securities legislation.

The Arrangement is expected to be completed in the final quarter of 2023.

ABOUT METALLA

Metalla provides shareholders with leveraged precious and strategic metal exposure through its royalties and streaming portfolio. Metalla’s goal is to increase share value by accumulating a diversified portfolio of royalties and streams offering attractive returns. Metalla’s strong foundation of current and future cash-generating asset base and experienced team provide Metalla the path to become one of the leading royalty companies.