All amounts are in U.S. dollars unless otherwise
indicated.
VANCOUVER, BC, Sept. 2, 2021 /CNW/ - Maverix Metals Inc.
("Maverix" or the "Company") (NYSE: MMX) (TSX: MMX) is pleased
to announce that it has amended its revolving credit facility (the
"Credit Facility") and increased the amount available by
$40 million to $160 million.
Matt Fargey, CFO of Maverix,
commented, "We would like to thank our lenders for their continued
support and confidence in our business. The increase and extension
of our revolving credit facility will provide us with more capital
to pursue accretive acquisitions of precious metals royalties and
streams."
The amounts drawn on the Credit Facility are subject to interest
at LIBOR plus 1.875% to 3.0% per annum, and the undrawn portion of
the Credit Facility is subject to a standby fee of 0.422% to 0.675%
per annum, both of which are dependent on the Company's leverage
ratio. The syndicate of banks include National Bank of Canada, Canadian Imperial Bank of Commerce,
The Bank of Nova Scotia, and Bank
of Montreal. The Credit Facility
has a term of 4 years, maturing in September
2025. Currently, the Company has nothing drawn from
the Credit Facility and, therefore, the full $160 million remains available.
Additionally, Maverix has filed a preliminary short form base
shelf prospectus (the "Base Shelf Prospectus") with the securities
regulatory authorities in each of the Provinces and Territories of
Canada and a corresponding shelf
registration statement on Form F-10 (the "Registration Statement")
with the United States Securities and Exchange Commission ("SEC")
under the Multijurisdictional Disclosure System, established
between Canada and the United States.
When final and effective, the Base Shelf Prospectus will replace
a base shelf prospectus of the Company that will expire on
October 13, 2021. The Base Shelf
Prospectus and Registration Statement, when made final and
effective, will enable Maverix to make offerings of up to
$500 million of common shares,
subscription receipts, units, warrants, share purchase contracts
and debt securities or any combination thereof (all of the
foregoing, collectively, the "Securities"). These Securities may be
offered from time to time over a 25-month period that the final
Base Shelf Prospectus and Registration Statement remain valid and
effective. The specific terms of any offering will be established
in a prospectus supplement to the final Base Shelf Prospectus,
which will be filed with the applicable Canadian and U.S. security
regulatory authorities in connection with such offering. The Shelf
Registration Statement filed with the SEC has not yet become
effective. Until the Shelf Registration Statement becomes
effective, no securities may be sold nor may offers to buy be
accepted in the United States. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy,
nor shall there be any sale of these Securities in any jurisdiction
in which an offer, solicitation or sale would be unlawful prior to
registration or qualifications under the securities laws of any
such jurisdiction.
Copies of the preliminary Base Shelf Prospectus and the Shelf
Registration Statement can be found on SEDAR at
www.sedar.com and EDGAR at www.sec.gov, respectively, or may
be obtained by directing a request to Maverix at 510 Burrard
Street, Suite 575, Vancouver, British
Columbia, Canada, V6C 3A8, Attention: Corporate
Secretary.
About Maverix
Maverix is a gold-focused royalty and streaming company with a
globally diversified portfolio of over 100 assets. Maverix's
mission is to increase per share value by acquiring precious metals
royalties and streams. Its shares trade on both the NYSE American
and the TSX under the symbol "MMX".
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. 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 include, but
are not limited to, statements with respect to the use of the
Company's credit facility to finance the acquisition of royalties
and streams and potential future offerings under the Company's Base
Shelf Prospectus (when final and effective). 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 information is
subject to known and unknown risks, uncertainties and other factors
that may cause the actual actions, events or results to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to: the
impact of general business and economic conditions; the absence of
control over mining operations from which Maverix will purchase
gold and other metals or from which it will receive royalty
payments and risks related to those mining operations, including
risks related to international operations, government and
environmental regulation, delays in mine construction and
operations, actual results of mining and current exploration
activities, conclusions of economic evaluations and changes in
project parameters as plans continue to be refined; accidents,
equipment breakdowns, title matters, labor disputes or other
unanticipated difficulties or interruptions in operations; problems
inherent to the marketability of gold and other metals; the
inherent uncertainty of production and cost estimates and the
potential for unexpected costs and expenses; industry conditions,
including fluctuations in the price of the primary commodities
mined at such operations, fluctuations in foreign exchange rates
and fluctuations in interest rates; government entities
interpreting existing tax legislation or enacting new tax
legislation in a way which adversely affects Maverix; stock market
volatility; regulatory restrictions; liability, competition, the
potential impact of epidemics, pandemics or other public health
crises, including the current outbreak of the novel coronavirus
known as COVID-19 on Maverix's business, operations and financial
condition, loss of key employees, as well as those risk factors
discussed in the section entitled "Risk Factors" in Maverix's
annual information form dated March 23,
2021 available at www.sedar.com. 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. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers are advised not to place
undue reliance on forward-looking statements or information.
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.
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SOURCE Maverix Metals Inc.