Esperanza is an advanced stage, low-capital-intensity gold project in Morelos State, Mexico operated by Zacatecas
Metalla Royalty signs royalty purchase agreement with Alamos Gold. (Credit: Albert Hyseni on Unsplash)
Metalla Royalty & Streaming Ltd. (“Metalla” or the “Company”) (TSXV: MTA) (NYSE American: MTA) is pleased to announce a royalty purchase agreement with Alamos Gold Corp (“Alamos”) (NYSE: AGI) (TSX: AGI) dated December 22, 2022, pursuant to which Metalla will acquire from Alamos one silver stream and three royalties for $5 million of common shares of Metalla (the “Transaction”).
Brett Heath, President and CEO of Metalla, commented, “We are pleased to partner with Alamos for the second time at Metalla. This transaction adds meaningful silver leverage to our portfolio while complementing our Canadian exploration portfolio in known mining camps and on proven geological trends. We want to thank Alamos for entrusting the Metalla team once again with the monetization of their royalty and streaming portfolio.”
The aggregate consideration payable by Metalla for the purchase of the royalties will be satisfied by Metalla issuing at closing $5 million of common shares based on the 20-day volume-weighted average price of shares traded on the NYSE American LLC (“NYSE”) prior to this announcement at a price of US$5.3228 (representing an aggregate of 939,355 common shares of Metalla). The Transaction is subject to customary closing conditions and exchange approvals and is expected to close in Q1 2023.
Source: Company Press Release