Proactive Investors - Run By Investors For Investors

Metalla Royalty & Streaming draws $6.8M gross after closing oversubscribed offering

In December, the group revealed it had closed the first tranche of its private placement and embarked on a second tranche
Net proceeds will be used to finance royalty and stream acquisitions

Metalla Royalty & Streaming Ltd (CVE:MTA) says it closed a second tranche of its oversubscribed placing, raising a total of around $6.8 million gross.

On December 21, the group revealed it had closed the first tranche of its private placement, reaping gross proceeds of nearly $3.53 million, and increased the size of the offering.

READ: Metalla Royalty reaps $3.5M in first tranche of o versubscribed financing and increases offering size to $6.8M

Now it has sold a further 4,172,358 units at $0.78 for additional gross proceeds of around $3,254,439, the company said in a regulatory release on Friday.

Each unit consisted of one company share and one-half of a share purchase warrant. Each warrant entitles the holder to buy one company share for $1.17 for 24 months from the closing date of each tranche as applicable.

The net proceeds will be used to finance royalty and stream acquisitions, Metalla added.

The offering was led by Haywood Securities Inc, on behalf of a syndicate of agents, including PI Financial Corp and Canaccord Genuity Corp.

Shares in Toronto were unchanged at $0.81.

Contact Giles Gwinnett at [email protected]

Follow him on Twitter @Gile74


View full MTA profile View Profile

Metalla Royalty and Streaming Ltd Timeline

Related Articles

March 07 2019
With operations in Honduras back on track and costs coming down, Wishbone's margins are set to rise.
Bauxite on a ship
January 20 2019
The company will undertake a number of site preparation activities in the March quarter.
Lithium Australia aspires to ‘close the loop’ on the energy-metal cycle
March 12 2019
Recent results show high-quality lithium-ion batteries can be generated from mine waste using its process.

© Proactive Investors 2019

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use