All amounts are in U.S. dollars unless otherwise
indicated.
VANCOUVER, BC, Feb. 15,
2022 /PRNewswire/ - Maverix Metals Inc. ("Maverix" or
the "Company") (NYSE: MMX) (TSX: MMX) is pleased to announce record
attributable gold equivalent ounces1 ("GEOs") of
approximately 9,000 in the fourth quarter of 2021 and a record of
over 32,000 GEOs1 for the full year 2021, exceeding
annual guidance of 31,000 GEOs1, which was increased in
November 2021 from the original range
of 27,000 to 30,000 GEOs1.
Dan O'Flaherty, CEO of Maverix,
commented, "Maverix had another successful year in 2021, recording
over 32,000 attributable GEOs1, which exceeded our
guidance and established a new Company record, for the fifth
consecutive year. In 2021, we also continued to expand our asset
portfolio by completing three accretive transactions that added
significant and immediate cash flow to Maverix. We look forward to
building on this performance in 2022 given the organic growth from
our existing portfolio, as well as from our active pipeline of
royalty and stream acquisition opportunities."
Mr. O'Flaherty continued, "I would also like to take this
opportunity to congratulate the team at Orla on successfully
completing the construction of the Camino Rojo mine and achieving
its first gold pour." Maverix holds a 2% NSR royalty on production
from oxide and transitional ores from Camino Rojo.
Dividend
The Company is also pleased to announce that its Board of
Directors has approved the payment of the quarterly cash dividend
of $0.0125 per common share. The
dividend will be paid on or about March 15,
2022, to shareholders of record as of the close of business
on February 28, 2022.
This dividend is designated as an "eligible dividend" for the
purposes of the Income Tax Act (Canada). Dividends paid by Maverix to
shareholders outside Canada
(non-resident investors) will be subject to Canadian non-resident
withholding taxes. The declaration, timing, amount and payment of
future dividends remains at the discretion of Maverix's Board of
Directors.
|
1 Please refer to the Non-IFRS
Measures section at the end of this press release.
|
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".
For further information, please go to our website at
www.maverixmetals.com
Cautionary statements to U.S. investors
Information contained or referenced in this press release or in
the documents referenced herein concerning the properties,
technical information and operations of Maverix has been prepared
in accordance with requirements and standards under Canadian
securities laws, which differ from the requirements of the U.S.
Securities and Exchange Commission ("SEC") under subpart 1300 of
Regulation S-K ("S-K 1300"). The terms "mineral resource" and
"inferred mineral resource" used in this press release or in the
documents incorporated by reference herein are mining terms as
defined in accordance with NI 43-101 under guidelines set out in
the Definition Standards for Mineral Resources and Mineral Reserves
adopted by the Canadian Institute of Mining, Metallurgy and
Petroleum Council. While the terms are substantially similar to the
same terms defined under S-K 1300 there are differences in the
definitions. Accordingly, there is no assurance any mineral
resources that the Company may report under NI 43-101 will be the
same as resource estimates prepared under the standards adopted
under S-K 1300. Because the Company is eligible for the
Multijurisdictional Disclosure System adopted by the SEC and
Canadian Securities Administrators, the Company is not required to
present disclosure regarding its mineral properties in compliance
with S-K 1300. Accordingly, certain information contained in this
press release concerning descriptions of mineralization and mineral
resources under these standards may not be comparable to similar
information made public by US companies subject to reporting and
disclosure requirements of the SEC.
Non-IRFS Measures
Maverix has included certain performance measures in this news
release that do not have any standardized meaning prescribed by
International Financial Reporting Standards ("IFRS"). The Company's
royalty revenue and silver sales are converted to a GEO basis by
dividing the royalty revenue and silver sales for a period by the
average gold price based on the LBMA Gold Price PM Fix per ounce
for the same respective period. These GEOs when combined with the
gold ounces sold from the Company's gold streams equal total GEOs
sold. The presentation of this non-IFRS measure is intended to
provide additional information and should not be considered in
isolation or as a substitute for measures of performance prepared
in accordance with IFRS. Other companies may calculate this
non-IFRS measure differently. Maverix's business, operations,
financial condition, and financial outlook could be materially
adversely affected by the continued impact of the COVID-19 global
health pandemic. At this time, Maverix cannot reasonably estimate
the duration of any potential business disruptions, impact to
underlying operations that Maverix holds an interest in or any
related financial impact that is related to or caused by
COVID-19.
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, the payment of the dividend, developments in
respect of Maverix's portfolio of royalties and streams and those
developments at certain of the mines, projects or properties that
underlie the Company's interests. 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.
Technical and third-party information
The disclosure herein and relating to properties and operations
on the properties in which Maverix holds royalty, stream or other
interests is based on information publicly disclosed by the owners
or operators of these properties and information/data available in
the public domain as at the date hereof, and none of this
information has been independently verified by Maverix.
Specifically, as a royalty or stream holder, Maverix has limited,
if any, access to properties included in its asset portfolio.
Additionally, Maverix may from time to time receive operating
information from the owners and operators of the properties, which
it is not permitted to disclose to the public. Maverix is dependent
on, (i) the operators of the properties and their qualified persons
to provide information to Maverix, or (ii) on publicly available
information to prepare disclosure pertaining to properties and
operations on the properties on which Maverix holds royalty, stream
or other interests, and generally has limited or no ability to
independently verify such information. Although Maverix does not
have any knowledge that such information may not be accurate, there
can be no assurance that such third-party information is complete
or accurate. Some information publicly reported by operators may
relate to a larger property than the area covered by Maverix's
royalty, stream or other interest. Maverix's royalty, stream or
other interests often cover less than 100% and sometimes only a
portion of the publicly reported mineral reserves, mineral
resources, and production of a property.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/maverix-announces-record-gold-equivalent-ounces-for-2021-and-declares-quarterly-dividend-301482223.html
SOURCE Maverix Metals Inc.