Maverix Metals Announces Closing of US$20,000,000 Loan Facility and Private Placement Financings
VANCOUVER, BC--(Marketwired - August 17, 2017) - Maverix Metals Inc. (the "Company" or "Maverix") (TSX VENTURE: MMX) is pleased to announce that it has closed the previously announced senior secured loan facility (the "Facility") with CEF (Capital Markets) Limited ("CEF") for US$20,000,000. In addition, the Company has closed the previously announced private placements to CEF and Pan American Silver Corp. for total proceeds of C$9,877,950 (the "Private Placements").
The Company intends to use the proceeds from the Facility and the Private Placements to acquire additional precious metals royalties and streams.
Maverix now has in excess of C$44 million in available funds to pursue growth opportunities.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
About Maverix:
Maverix's primary purpose is to acquire and hold predominantly precious metals streams and royalties, and in so doing provide significant leverage to gold and silver prices for its shareholders. Maverix's mission is to increase underlying per share value by adding high-quality royalties and streams that offer robust returns to Maverix's portfolio.
Cautionary note regarding forward-looking statements
This release contains certain "forward looking statements" and certain "forward-looking information" as defined under applicable Canadian and U.S. securities laws. Forward-looking statements and information can generally be identified by the use of forward-looking terminology such as "may", "will", "should", "expect", "intend", "estimate", "anticipate", "believe", "continue", "plans" or similar terminology. Forward-looking information includes, but is not limited to, statements relating to the anticipated use of proceeds and the future issuance of shares to the CEF pursuant to the terms of the Facility. The forward-looking information contained herein is provided for the purpose of assisting readers in understanding management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes.
Forward-looking statements and information are based on forecasts of future results, estimates of amounts not yet determinable and assumptions that, while believed by management to be reasonable, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Forward-looking statements are subject to known and unknown risks, uncertainties and other important factors that may cause the actual results, performance or achievements of Maverix to be materially different from those expressed or implied by such forward-looking statements, including those risks described in Maverix's Annual Information Form dated June 19, 2017. Although Maverix has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended.
Maverix undertakes no obligation to update forward-looking information except as required by applicable law. Such forward-looking information represents management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements or information.
Contact
For further information, please contact:
Maverix Metals Inc.
Daniel O'Flaherty
(604) 343-6225
President and CEO
Email: info@maverixmetals.com
Website: www.maverixmetals.com