TSXV: MTA
OTCQB: MTAFF
VANCOUVER, Dec. 10, 2019 /CNW/ - Metalla Royalty
& Streaming Ltd. ("Metalla" or the
"Company") (TSXV: MTA) (OTCQB: MTAFF) announced today
that it has applied to list its common shares on the NYSE American,
LLC ("NYSE American"). Metalla's common shares will trade on
the NYSE American under the ticker symbol "MTA" and a trading date
for the listing will be announced once all regulatory requirements
are satisfied. The listing of Metalla's common shares remains
subject to the approval of the NYSE American and the satisfaction
of all applicable listing and regulatory requirements.
Metalla's President and Chief Executive Officer, Brett Heath, commented: "Listing on the NYSE
American represents a significant milestone in the growth of the
Company. The listing will materially increase Metalla's exposure to
a larger and more diverse group of institutional and retail
investors as we continue to grow our portfolio of precious metals
royalties and streams. The share consolidation allows for Metalla
to meet the minimum requirements for the NYSE American, which we
believe will improve trading liquidity and expand our globally
diverse shareholder base."
Share Consolidation to satisfy NYSE American Listing
Requirements
In connection with the planned listing on the NYSE American, the
Company is implementing a consolidation of its outstanding common
shares. The Company's board of directors has determined that the
consolidation will be effected on the basis of one new common share
for every four currently outstanding common shares (the
"Consolidation") The Consolidation will take effect on or
about December 17, 2019 (the
"Effective Date") and the Company's common shares are
expected to commence trading on the TSX Venture Exchange on a
post-Consolidation basis beginning at the open of markets on or
about December 19, 2019. There are
currently 135,160,667 common shares issued and outstanding, and it
is expected that there will be 33,790,167 common shares issued and
outstanding following the Consolidation, subject to rounding for
any fractional shares. No fractional shares will be issued as a
result of the share Consolidation. Fractional interests of 0.5 or
greater will be rounded up to the nearest whole number of shares
and fractional interests of less than 0.5 will be rounded down to
the nearest whole number of common shares.
Effect of the Consolidation on Registered and Beneficial
Holders
Registered shareholders holding share certificates will be
mailed a letter of transmittal advising of the share consolidation
and instructing them to surrender their share certificates
representing pre-Consolidation common shares for replacement
certificates representing their post-Consolidation common shares.
Until surrendered for exchange, following the effective date of the
Consolidation, each share certificate formerly representing
pre-Consolidation common shares will be deemed to represent the
number of whole post-Consolidation common shares to which the
holder is entitled as a result of the Consolidation.
Holders of common shares of the Company who hold uncertificated
common shares (i.e., common shares held in book-entry form and not
represented by a physical share certificate), either as registered
holders or beneficial owners, will have their existing book-entry
account(s) electronically adjusted by the Company's transfer agent
or, for beneficial shareholders, by their brokerage firms, banks,
trusts or other nominees that hold in "street name" for their
benefit. Such holders do not need to take any additional actions to
exchange their pre-Consolidation common shares for
post-Consolidation common shares.
Beneficial shareholders holding their common shares through a
bank, broker or other nominee should note that such banks, brokers
or other nominees may have different procedures for processing the
Consolidation than those that have been put in place by the Company
for registered shareholders. If you hold your common shares with
such a bank, broker or other nominee and if you have questions in
this regard, you are encouraged to contact your nominee.
Effect of the Consolidation on the payment of
Dividends
Further to the Company's press release dated November 26, 2019, Metalla has announced a
monthly dividend payment on its common shares for January and
February 2020. In order to maintain
the same aggregate pre consolidation dividend payment, following
the effective date of the Consolidation, the per share dividend
payment amount will be automatically adjusted such that the
dividend payment amount will be $0.004 per share.
ABOUT METALLA
Metalla is a precious metals royalty and streaming company.
Metalla provides shareholders with leveraged precious metal
exposure through a diversified and growing portfolio of royalties
and streams. 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 gold and silver
companies for the next commodities cycle.
For further information, please visit our website at
www.metallaroyalty.com
ON BEHALF OF METALLA ROYALTY & STREAMING LTD.
(signed) "Brett Heath"
President and CEO
Neither the TSXV 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 press release contains "forward-looking information" and
"forward-looking statements" within the meaning of applicable
Canadian and U.S. securities legislation. The forward-looking
statements herein are made as of the date of this press release
only, and the Company does not assume any obligation to update or
revise them to reflect new information, estimates or opinions,
future events or results or otherwise, except as required by
applicable law.
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
and information include, but are not limited to, statements with
respect to the timing, receipt of regulatory approval for, and
completion of the Consolidation and listing of the Company's common
shares on a U.S. stock exchange as well as statements relating to
future trading liquidity and our future shareholder base,
enhancement of Metalla's portfolio of precious metals royalties and
streams,future cash generation, future dividends, and the potential
for Metalla to become one of the leading precious metal royalty and
streaming companies. 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: the requirement for regulatory approvals,
exchange approval, and third party consents, risks and
uncertainties related to obtaining regulatory approval and
exchange approval in a timely manner, or at all, the impact of
general business and economic conditions and other related risks
and uncertainties including 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 or
information.
Readers are cautioned that forward-looking statements are not
guarantees of future performance. All of the forward-looking
statements made in this press release are qualified by these
cautionary statements.
SOURCE Metalla Royalty and Streaming Ltd.
