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Metalla Royalty inks distribution deal for new equity program

Published: 08:25 17 May 2021 EDT

Metalla Royalty & Streaming Ltd - Metalla Royalty inks distribution deal for new equity program
Proceeds of the share sales will be used to finance the future purchase of streams and royalties by the company

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. 

READ: Metalla Royalty & Streaming upgraded to ‘Buy’ at Roth Capital with an improved target price of $11.40

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.

Contact the author at calum@proactiveinvestors.com

Follow him on Twitter @Cal_Proac

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