Metalla Royalty & Streaming Ltd (CVE:MTA) (NYSEAMERICAN:MTA) (FRA:X9C) said it has entered a new equity distribution agreement with a syndicate of agents for a new at-the-market (ATM) equity program.
The precious metals royalty and streaming company said the distribution deal will replace its previous arrangement and will allow the company to distribute up to US$35 million, or the equivalent in Canadian dollars, of common shares in the group under the New ATM Program.
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The shares will be issued by the company to the public from time to time, through the agents at the company’s discretion. Metalla added that the offered shares sold under the ATM Program will be sold at the prevailing market price at the time of sale.
The company also said the proceeds of the sales will be used to finance the future purchase of streams and royalties by the company and for general working capital purposes.
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