TSXV:
MTA
NYSE AMERICAN: MTA
VANCOUVER, BC, July 24,
2024 /PRNewswire/ - Metalla Royalty & Streaming
Ltd. ("Metalla") or ("Company") (NYSE American: MTA)
(TSXV: MTA) is pleased to announce the appointment
of Jason Cho as President of the Company, effective
immediately.
Brett Heath, Chief Executive
Officer of Metalla, stated, "The Board is pleased to have
someone of Jason's caliber joining the team. As a highly respected
mining professional with 25 years of sector expertise, Mr. Cho adds
meaningful capital markets, technical, finance, and strategic
expertise. Throughout his extensive career, he has shown a
commitment to shareholder value, and will be aligned through a
significant personal equity investment into the Company. Jason's
strong industry relationships will be instrumental in continuing
Metalla's growth going forward."
Mr. Cho commented, "I am enthusiastic to partner with Brett
and the Metalla team at such a pivotal time as the Company advances
its path towards building a leading royalty company and more fully
realizes value within its existing portfolio of high quality
assets."
ABOUT JASON CHO
Mr. Cho is an accomplished mining executive with over 25 years
of broad based experience in engineering, corporate finance,
portfolio management and corporate development focused on the
mining and materials sector. He most recently held the
position of Executive Vice President, Strategy & Corporate
Development with Eldorado Gold from 2013 to 2023 and led over
$4 billion in M&A; various
equity, debt and project financings; and restructuring. He
previously spent over fifteen years in investment banking and
institutional sales & trading (Merrill Lynch, UBS Securities),
proprietary trading (TD Securities), and engineering (AMEC) focused
on natural resources. Mr. Cho holds a Bachelor of Applied Science
in Geological Engineering from the University
of British Columbia and a Masters of Business Administration
from the University of Toronto and is a
professional engineer and professional geoscientist (BC and
ON).
JASON CHO PRIVATE PLACEMENT
Concurrent with his appointment as President, the Company is
also pleased to announce a C$1.0 million equity
investment by Mr. Cho into the Company, for the acquisition of
250,000 common shares of Metalla (the "Shares") at a price
of C$4.00 per Share by way of private placement (the
"Placement"). The closing of the Placement is subject to the
receipt of approvals of the TSX Venture Exchange and the NYSE
American LLC. The proceeds of the Placement will be used for
general working capital purposes. The Shares will be subject to a
statutory hold period of four months and a day from issuance, in
accordance with applicable Canadian securities laws.
RESTRICTED SHARE UNIT AND OPTION GRANT
Effective July 23, 2024, Metalla
has granted, in accordance with the Company's share compensation
plan, an aggregate of 250,000 restricted share units (each
"RSU") and an aggregate of 150,000 stock options
("Options") to Mr. Cho. The RSUs will vest in four equal
installments annually from the date of grant, and Options vest in
two equal installments, twelve and twenty-four months from the date
of grant. Each vested RSU will entitle the holder to receive one
common share of the Company or the equivalent cash value thereof
and each vested Option will entitle the holder to acquire one
common share of the Company at an exercise price
of C$4.14 for a period of five years and are subject to
vesting provisions.
ABOUT METALLA
Metalla was created to provide shareholders with leveraged
precious and strategic metal exposure by acquiring royalties and
streams. Our goal is to increase share value by accumulating a
diversified portfolio of royalties and streams with attractive
returns. Our strong foundation of current and future
cash-generating asset base, combined with an experienced team,
gives Metalla a path to become one of the leading royalty
companies.
For further information, please visit our website at
www.metallaroyalty.com.
ON BEHALF OF METALLA ROYALTY & STREAMING LTD.
(signed) "Brett Heath"
Chief Executive Officer
Website: www.metallaroyalty.com
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the Exchange)
accept responsibility for the adequacy or accuracy of this
release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable
securities legislation. Often, but not always,
forward-looking statements can be identified by the use of words
such as "plans", "expects", "is expected", "budgets", "scheduled",
"estimates", "forecasts", "predicts", "projects", "intends",
"targets", "aims", "anticipates" or "believes" or variations
(including negative variations) of such words and phrases or may be
identified by statements to the effect that certain actions "may",
"could", "should", "would", "might" or "will" be taken, occur, or
be achieved. Forward-looking statements include, but are not
limited to, the statements of management regarding Mr. Cho's future
contributions to the Company; the completion of the Placement; the
receipt of the stock exchange approvals for the Placement; the
expected use of proceeds from the Placement; the vesting and
settlement of the RSUs; the vesting and exercise of the Options;
the expectations generally of Metalla regarding the property
owners/operators and the authors of relevant technical reports and
studies with respect to the mineral projects in which Metalla has
an interest, including without limitation, estimates of mineral
resources and mineral reserves and updates thereto, production,
mine life, NPV, IRR, costs, drilling, development, permitting,
water sourcing, commodity mix and prices, and the timing
thereof; future opportunities and
acquisitions; future exploration, financing,
development, production and other anticipated developments on the
properties in which the Company has or has agreed to
acquire an interest; future growth, increased
share value, cash generation and returns; and Metalla having a path
to becoming a leading gold and silver royalty company.
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 and information are subject to various
known and unknown risks and uncertainties, many of which are beyond
the ability of Metalla to control or predict, that may cause
Metalla's actual results, performance or achievements to be
materially different from those expressed or implied thereby, and
are developed based on assumptions about such risks, uncertainties
and other factors set out herein, including but not limited to:
that the expectations regarding Mr. Cho's future contributions to
the Company will not be realized; that the Placement will not be
completed; that the stock exchanges will not approve the Placement;
that the proceeds from the Placement will be used differently than
announced; that the RSUs will not vest or be settled; that the
Options will not vest or be exercised; the absence of control over
mining operations from which Metalla will purchase precious metals
or from which it will receive stream or 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 are refined;
problems related to the ability to market precious metals or other
metals; industry conditions, including commodity price
fluctuations, interest and exchange rate fluctuations;
interpretation by government entities of tax laws or the
implementation of new tax laws; regulatory, political or economic
developments in any of the countries where properties in which
Metalla holds a royalty, stream or other interest are located or
through which they are held; risks related to the operators of the
properties in which Metalla holds a royalty or stream or other
interest, including changes in the ownership and control of such
operators; risks related to global pandemics, including the current
novel coronavirus (COVID-19) global health pandemic, and the spread
of other viruses or pathogens; influence of macroeconomic
developments; business opportunities that become available to, or
are pursued by Metalla; reduced access to debt and equity capital;
litigation; title, permit or license disputes related to interests
on any of the properties in which Metalla holds a royalty, stream
or other interest; the volatility of the stock market; competition;
future sales or issuances of debt or equity securities; use of
proceeds; dividend policy and future payment of dividends;
liquidity; market for securities; enforcement of civil judgments;
and risks relating to Metalla potentially being a passive foreign
investment company within the meaning of U.S. federal tax laws; and
the other risks and uncertainties disclosed under the heading "Risk
Factors" in the Company's most recent annual information form,
annual report on Form 40-F and other documents filed with or
submitted to the Canadian securities regulatory authorities on the
SEDAR website at www.sedar.com and the U.S. Securities and Exchange
Commission on the EDGAR website at www.sec.gov. Metalla 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.
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SOURCE Metalla Royalty & Streaming Ltd.