TSXV: MTA
OTCQB: MTAFF
VANCOUVER, Dec. 16, 2019 /CNW/ - Metalla Royalty &
Streaming Ltd. ("Metalla" or the "Company")
(TSXV: MTA) (OTCQB: MTAFF) announces that, in connection
with a planned listing on the NYSE American, LLC ("NYSE
American"), the Company will complete its previously announced
consolidation of common shares on the basis of one new share for
four old shares (1:4) (the "Consolidation") effective as of
12:01 a.m. (PST) on December 17, 2019 (the "Effective Time").
The Company's consolidated common shares are expected to begin
trading on the TSX Venture Exchange ("TSXV") when the
markets open on December 17,
2019.
Share Consolidation
Each four (4) common shares issued and outstanding at the
Effective Time will be consolidated into one (1) common share. The
Consolidation affects all of the Company's common shares
outstanding at the Effective Time. As a result of the
Consolidation, the number of issued and outstanding common shares
will be reduced from approximately 135,244,590 to 33,811,175
(subject to fractional treatment). Each shareholder's percentage
ownership in the Company and proportional voting power will remain
unchanged, except for minor changes and adjustments resulting from
the treatment of fractional shares.
No fractional shares will be issued as a result of the
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 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, 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.
The new CUSIP number for the post-Consolidation common shares is
59124U605 and the new ISIN number is CA59124U6051.
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, the per
share dividend payment amount has been automatically adjusted such
that the dividend payment amount will be $0.004 per share in January and February 2020.
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 of the Consolidation, Effective Time
and the trading of the common shares on the TSXV on a
post-Consolidation basis, payment of 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.
