Maverix Metals Inc.

Maverix Metals Inc. in its acquisition of an additional 1.5% NSR royalty on TMAC Resources Inc’s Hope Bay Gold Mine and concurrent private placement

Client

Maverix Metals Inc.

Value

US$43 million

Service

Mergers and Acquisitions

Date Closed

August 2019

Industry

Mining

Lead Office

Vancouver


 

On August 16, 2019 Maverix Metals completed its acquisition of an additional net smelter returns (NSR) royalty on TMAC Resources Inc’s Hope Bay Gold Mine in Nunavut. Maverix Metals purchased an additional 1.5% NSR royalty (for a combined 2.5% NSR royalty) on the Hope Bay Gold Mine for US$40 million and subscribed for US$3 million worth of common shares in TMAC Resources Inc at a price of C$6.00 per share. Maverix is also entitled to receive an additional 0.25% NSR royalty until certain conditions are satisfied.

Maverix Metals is a gold royalty and streaming company, whose mission is to provide its shareholders with significant low risk leverage to precious metal prices and to increase underlying per share value by continuing to grow its portfolio with acquisitions of high-quality royalties and streams that offer robust returns.

Osler advised Maverix Metals with a team consisting of Alan Hutchison and Patrick Sullivan (Corporate), Martha Martindale (Financial Services) and Ian Morrison (Articling Student).


Team
Alan Hutchison - Mining lawyer
Key Contact

Alan Hutchison

Partner, Corporate

Patrick has a broad corporate practice with an emphasis in securities, mining and corporate gover..

Patrick Sullivan

Associate, Corporate

Martha Martindale

Martha Martindale

Partner, Financial Services

Ian Morrison

Ian Morrison

Associate, Corporate