As reported on July 24, shareholders in ValGold overwhelmingly voted to approve the deal at the annual and special meeting of ValGold shareholders.
"We are very pleased to close this accretive transaction which further broadens our royalty portfolio pipeline in the tier-one jurisdiction of Canada, while preserving our strong balance sheet," said Brett Heath, the president and chief executive of Metalla.
"With the acquisition of Valgold complete, Metalla will now have a portfolio of 21 royalties and streams on projects ranging from production, development, and exploration from some of the strongest operators in the precious metals mining sector."
ValGold shareholders received 0.1667 Metalla shares for each of their ValGold shares.
Holders of outstanding ValGold options received Metalla shares on the basis of the in-the-money value of such ValGold Options.
Metalla issued a total of around 9.66mln shares in exchange for the ValGold shares and ValGold options
Outstanding ValGold warrants will be exercisable to acquire up to around 2.61mln Metalla shares, each at an exercise price of around C$0.60.
Metalla shares nudged up 2.76% to C$0.80 in Toronto.