viewMetalla Royalty & Streaming Ltd

Metalla Royalty & Streaming set to acquire strategic Nevada royalty portfolio

Some of the royalties will provide Metalla with payments annually and will increase the company's exposure to the Cortez trend

Metalla Royalty & Streaming Ltd - Metalla Royalty & Streaming is set to acquire an income-producing Nevada royalty portfolio
Some 11 royalties cover more than 21,500 hectares of Carlin-type and epithermal deposits

Metalla Royalty & Streaming Ltd (CVE:MTA) (NYSEAMERICAN:MTA) on Wednesday announced that it has agreed to acquire two, privately-held Utah corporations, Genesis Gold Corporation and Geological Services Inc, in a cash-and-stock transaction valued at US$4.125 million.

Genesis Gold and Geological Services hold a portfolio of royalties in Nevada and Utah, some of which provide Metalla Royalty with immediate advanced and escalating royalty payments on an annual basis. Genesis and Geological together hold 11 royalties covering more than 21,500 hectares of Carlin-type and epithermal deposits within the Battle Mountain-Eureka, Carlin, and Independence trends in Nevada, with one in Utah. 

Metalla Royalty CEO Brett Heath commented on the agreement: "This transaction marks our sixth deal in 2020 in what has been one of our most active years since inception. We are pleased to significantly bolster our Nevada footprint with eleven development and exploration gold royalties, expanding our existing Cortez footprint."

READ: Metalla Royalty & Streaming looks well positioned as it continues to leverage its large gold and silver portfolio

Heath added: “The acquisition provides shareholders exposure to one of the top jurisdictions in the world covering more than 210 square kilometers on the Battle Mountain - Eureka , Carlin and Independence trends in Nevada. This year has showcased our premium pipeline and ability to transact on high quality royalties on an accretive/bilateral basis across various geographies that provide exposure to top counterparties and proven geological trends in Nevada, Australia, USA and Chile.”

The pending acquisition will expand Metalla's portfolio to 62 royalties and streams and will increase Metalla's exposure to the Cortez trend by expanding royalty footprint continuously to the south of Goldrush, owned by Nevada Gold Mines, a joint venture between Barrick (NYSE:GOLD) and Newmont (NYSE:NEM).

To satisfy the agreement, Metalla will issue US$3.125 million in common shares, at an average price of approximately C$10.22 per share, on January 4, 2021, and US$1.0 million in cash upon closing. The transaction is expected to close this month.

Contact Sean at sean@proactiveinvestors.com

Quick facts: Metalla Royalty & Streaming Ltd


Price: 8.61 CAD

Market Cap: $375.56 m

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of named herein, including the promotion by the Company of in any Content on the Site, the Company receives from said issuer annual cash...


Metalla buys royalty on part of Côté project, set to become one of Canada's...

Metalla Royalty & Streaming Ltd (CVE:MTA) (NYSEAMERICAN:MTA) (FRA:X9C) CEO Brett Heath tells Proactive the group it has bought an existing 1.35% net smelter return (NSR) royalty on part of the Côté gold project and the Gosselin-Young-Shannon gold project, where construction of a US$1.3...

on 17/6/21

2 min read